Global Business meets in Madrid to act for Nature

There is mounting evidence that the health of our planet is declining at a rate never seen in human history and putting the global economy at risk. The earth is under ever-increasing pressure, wildlife is disappearing, sea and land are being degraded, and resources are becoming scarce.
Businesses rely on nature for resources such as food, fiber, minerals and building material; ecosystem services such as pollination of crops, water filtration, waste decomposition, climate sequestration and climate regulation; and healthy and prosperous societies that give them their customers and workforces.
Nature loss has concrete and immediate costs and impacts for businesses: from operational risks, impacting supply chain continuity, predictability and resilience, to liability risks and regulatory, reputational, market and financial risks.
The European Business and Nature Summit is a two-day summit on business, biodiversity and natural capital co-organised by the European Business and Biodiversity Platform (European Commission), Ecoacsa, Fundación Empresa y Clima, Fundación Biodiversidad from Ministry for Ecological Transition – through the Spanish Business and Biodiversity Initiative – and the Ministry of the Environment of Finland and hosted by CaixaForum. The conference will provide a unique environment to engage new actors interested in doing their bit to revert nature loss by integrating biodiversity, natural capital and related risks and opportunities into their decision-making and on methodologies to inform decisions.

Nature loss is putting businesses and the economy at risk. More and more businesses understand that they are fundamentally dependant on the health of nature and ecosystems, and that their degradation places severe costs on businesses and economies. They also recognise that protecting, restoring and understanding their relationship with nature is in their own economic interest, allowing them to gain a competitive advantage.

On 7 and 8 November 2019, over 320 representatives from business and finance communities, as well as governments and civil society convene in Madrid for the European Business and Nature Summit (EBNS), the largest event during Natural Capital Week 2019. The Summit will shine a light on front running companies integrating natural capital and biodiversity into their daily management practices, highlighting best practices and approaches to deliver positive business impact on biodiversity.

It is also a key milestone to engage businesses for a New Deal for Nature and People to reverse nature loss, which is expected to be adopted in China in 2020. Front running companies can help to generate the political momentum through their voluntary commitments.

Daniel Calleja, Director General for Environment, DG Environment, European Commission, said: “Mobilizing the private sector is critical for delivering an ambitious post-2020 biodiversity framework. The EU is partnering with many front-running companies who are using their business experience in integrating their dependencies on nature into their daily management practices as a role model for others. We are eager to engage all partners in bringing about the systematic change that is necessary for our planet’s survival. The new political priorities of the European Commission´s President-elect call for the preservation and restoration of ecosystems to guide all of our work. We are working on a new Green Deal with a new Biodiversity Strategy that will provide new opportunities for business’ to invest in – and better care– for nature.”

Forward-thinking businesses, such as Danone, BASF and Caixa Bank, are already ahead of their game. They understand that global economic prosperity relies on a healthy natural world and are already committing and acting on nature protection, restoration and sustainable use. (See annex for business statements)

During the week, leading businesses will explain how a natural capital approach is giving them the tools necessary to mitigate risk, identify opportunities for efficiency, resilience and innovation, and enabling them to deliver value for nature and people alongside their businesses.

They will also explore how taking action to protect nature can empower them to make positive contributions towards people and communities, for instance by promoting human health and well-being, societal resilience, sustainable development, and making progress towards the United Nations Sustainable Development Goals.

During Natural Capital Week 2019 organizers will also formally collect business actions and commitments that contribute to the United Nations Biodiversity’s Action Agenda for Nature and People. This is part of a global biodiversity framework that countries are expected to adopt during the 15th Conference of the Parties to the Convention on Biological Diversity taking place in China in October 2020. This New Deal for Nature and People will be a basis for the post-2020 EU biodiversity strategy.