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

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Businesses must have a better understanding of how their investments impact nature and how nature loss can translate into financial risks. Read more at straitstimes.com.

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 CDP said on Wednesday.

CDP 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. 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.

Despite that, 55 per cent of respondents had not taken action to progress their commitments over the past year and 70 per cent did not assess the impact of their supply chain on biodiversity, CDP said.

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