|Biodiversity loss as an economic risk: Call for more transparency on the role of biodiversity and ecosystem services in businesses and the economy
|Förster, J.; Wildner, T.M.; Hansjürgens, B.
|T5 Future Landscapes
|Biodiversity comprises all life on earth including all species and ecosystems and is essentialfor human existence. The services provided by ecosystems – so called ecosystem services - underpin a large part of the economy2. Central banks and finance ministries warn that loss of biodiversity and ecosystem services pose significant risks to the global economic and financial system.
The scientists and business representatives of the Bio-Mo-D project5 call on the negotiating delegations of the CBD COP 15 to make accounting and reporting of the role of biodiversity mandatory for both national economic reporting (Target 14) and business reporting (Target 15). Increasing transparency through such reporting using scientifically robust data and indicators is critical for informing political and economic decision making for achieving the needed transformation to a more sustainable economy.
In a side event6 at CBD COP 15, The Helmholtz Centre for Environmental Research (UFZ) and the Value Balancing Alliance (VBA) bring together leading organizations and initiatives for the standardization of corporate sustainability reporting. The aim is to inform negotiators, companies and the public about current developments for integrating biodiversity into corporate reporting and to discuss forthcoming steps for implementation ("mainstreaming").
Within the European Union (EU), the directive on sustainability reporting (CSRD) is currently being adopted7, setting legally binding requirements for reporting on biodiversity for around 50,000 companies in the EU and around 15,000 companies in Germany.
|Persistent UFZ Identifier
|Förster, J., Wildner, T.M., Hansjürgens, B. (2022):
Biodiversity loss as an economic risk: Call for more transparency on the role of biodiversity and ecosystem services in businesses and the economy
Helmholtz-Zentrum für Umweltforschung - UFZ, Leipzig, 8 pp.