Companies not doing enough to protect nature, environmental non-profit says

LONDON: Companies are not doing enough to stop biodiversity loss, and most have no idea about the damage to nature caused by their supply chains, a report from environmental disclosure platform Carbon Disclosure Project said on Wednesday .

Around 20,000 companies report to non-profit CDP on a range of climate and other data, which is then used by investors and other financial market participants to track board progress on the issues andCDP said responses to its questionnaire on biodiversity from more than 7,700 companies marks the largest-ever such self-assessment, and comes ahead of global talks to hammer out a deal on protecting biodiversity in Montreal starting Dec 7.

Among the questions likely to be discussed is whether to make corporate reporting on the issue mandatory, something asked for by more than 330 businesses including GSK and H&M Group. A recent report by the Organisation for Economic Co-operation and Development suggested so-called eco-system services such as crop pollination and water purification were worth up to US$140 trillion a year.

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