A report issued today by the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES) underscores the critical role that companies play in halting biodiversity loss. It reveals that businesses must make significant improvements to their practices regarding the natural environment, as less than one percent of public companies currently report on the impact of their operations on biodiversity. This lack of awareness poses direct and substantial risks to businesses that fail to recognize their environmental impact.

Janne Kotiaho, chairman of the Finnish Nature Panel, pointed out that all companies are both dependent on nature and have an impact on it. He warns that companies that do not understand their actions' influence on biodiversity risk facing significant business implications. The report is a product of collaborative efforts from 79 experts representing various countries and was discussed during a recent IPBES meeting held in Manchester.

The urgency of this issue is particularly pronounced given the drastic increase in the global economy over the past two hundred years, which has expanded a hundredfold. The implications of this economic growth on biodiversity have been profound, necessitating immediate action from companies. The IPBES report serves as a wake-up call for businesses to prioritize biodiversity in their operations, not only to comply with ethical standards but to secure their future viability and mitigate risks.