The evolution of corporate no net loss and net positive impact biodiversity commitments: Understanding appetite and addressing challenges
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Abstract
Abstract The World Economic Forum has identified biodiversity loss as an increasingly significant and impactful risk facing business. However, businesses themselves can negatively impact on biodiversity. Recognizing this, a number of companies have developed their own biodiversity commitments, including those to achieve a no net loss (NNL) or net positive impact (NPI) on biodiversity by balancing or outweighing any negative impacts through mitigation activities. We reviewed corporate‐level NNL and NPI commitments over the last two decades to establish the extent of their adoption, retraction, and scientific foundation. Between 2001 and 2016, 66 companies had made NNL/NPI environmental commitments. Thirty three of these 66 companies made specific biodiversity commitments. The numbers of companies making commitments increased in that period. However, some commitments were retracted, or their status became unclear, leaving only 18 companies with active NNL/NPI biodiversity commitments in 2016. Added to this, many of the commitments are lacking science‐based criteria that would allow more transparent and systematic assessment of corporate activities. Thus, although commitments are being made, they may not be delivering as intended. To secure real biodiversity gains, we recommend advancing methods to assess biodiversity risks to businesses, and using science‐based criteria to deepen corporate commitments and actions. Concerted effort from all sectors is needed to halt and reverse biodiversity loss, and the “biodiversity policy super‐year” of 2020 is the perfect moment for business to deliver through well‐framed and implemented commitments to biodiversity NPI.