Most people are familiar with the concept of climate change and its effects on sea level rises and global warming, but biodiversity loss is a less well-understood concept. Biodiversity loss is simply the decline or disappearance of the variety of living species on our planet and is a direct signifier of the negative consequences of climate change. Biodiversity loss isn’t confined to individual species. The decline in the population of a single species can have wide-ranging effects on entire ecosystems as key species and pollinators are lost. Protecting this biodiversity is more important than ever, as, since 1970, the population sizes of wildlife have fallen on average 68% globally.
So what can businesses do to help combat this trend and avert further biodiversity catastrophes?
Embrace remote working
While some jobs have been considered well-suited to remote working for some time already, the restrictions on movement throughout 2020 and 2021 as a result of the Covid-19 pandemic forced companies and employees to adapt and adopt telecommuting practices. Many companies realized the potential for a hybrid-remote workforce was greater than previously understood, with many tangible benefits. Employees tended to appreciate the flexibility of a hybrid set-up, allowing them to manage their own time better, increasing employee satisfaction, quality of life, and in many cases, productivity. Of course, this also meant significant reductions in commuter journeys leading to a fall in greenhouse gas emissions into the environment.
The same environmental benefits can be realized by reducing business travel. Online meetings and events may never replace in-person ones entirely, but cutting out flights for the sake of a two-hour meeting somewhere and shifting to an online meeting instead saves time, money, and the planet’s biodiversity.
Manage your supply chain
According to Patagonia, who are rightfully praised as being at the forefront of changing the apparel industry’s environmental impact, 95% of their total emissions come from their supply chain rather than from their own operations. Therefore, businesses making improvements to their internal processes need to also consider the impact of all the suppliers, logistics companies, partners, and raw material sources along the entire supply chain. It can be a challenge for individual businesses who are just one of a number of contractors, factories, or suppliers to influence their operations, but there are many NGOs offering advice and coordinating efforts regarding sustainable supply chains. The WWF, for example, collaborates with Hyatt hotels on ensuring fish supplies are responsibly sourced, and they also conduct research focusing on palm oil sourcing and the associated deforestation required to produce it.
Seek external support
There is a wealth of conflicting information available regarding environmental sustainability, carbon offsetting, greenwashing, and more, and ever-greater public scrutiny of businesses’ operations, so it can be challenging to know how to proceed in efforts to make a company more climate and biodiversity-friendly.
The good news is that you are not alone. There are many organizations and programs designed to assist businesses with protecting biodiversity. For companies wishing to implement more sustainable strategies, the Union for Ethical BioTrade (UEBT) and the World Business Council for Sustainable Development (WBCSD) are experienced in reducing companies’ environmental impact.
In addition, the WWF, the International Union for Conservation of Nature (IUCN), and Flora and Fauna International (FFI) also advise businesses on sustainability strategies, even working with large fossil fuel suppliers to help them transition into the wind, solar, and other renewable energy production initiatives.
Partner with environmental organizations
One easily implemented solution for companies wishing to start making a positive impact in preserving ecological biodiversity is to partner with organizations that are actively involved to save the environment. For example, fashion and material sciences company Pangaia joined forces with Milkywire to launch the Bee The Change Fund in an effort to raise money supporting vital pollinators. Fintech giant Klarna also turned to Milkywire to develop the Give One fund, which will see them supporting various environmental initiatives around the world with money raised through capital funding rounds and customer engagement programs.
It’s vitally important to select which projects to contribute to, as there are many potential pitfalls with even the most well-intentioned schemes. For example, if not implemented correctly, mass tree-planting projects can lead to monoculture plantations developing rather than preserving the delicate biodiversity this planet needs. That’s why fully audited and vetted nonprofits, such as those on the Milkywire platform, are in such high demand by companies working to reduce their environmental impact and work towards a biodiversity-rich future.
