Business Alliance Sets Out Steps to Advance Integration of Biodiversity Management
On 8-9th October, representatives of the CSR Europe Biodiversity Alliance – Autostrade per l’Italia, BASF, Coca-Cola HBC, Hitachi, Impronta Etica, Leonardo, Public Power Corporation, Syensqo, Titan- welcomed external stakeholders to further shape the upcoming White Paper on business practices for biodiversity management and the direction for 2025.
At the stakeholders meeting of 8-9th October, representatives from the European Institutions, non-member companies, and civil society organisations shared current challenges and strategies in corporate biodiversity management with the members of the Biodiversity Alliance for Sustainable Management – Autostrade per l’Italia, BASF, Coca-Cola HBC, Hitachi, Impronta Etica, Leonardo, Public Power Corporation, Syensqo, Titan.
A central topic of the discussions was the significant challenges associated with biodiversity reporting, such as the complexity of existing frameworks and the absence of standardised metrics. Unlike climate change, which can be quantified through greenhouse gas emissions, measuring biodiversity remains problematic for the complex identification of relevant KPIs and the interconnection with multiple drivers, such as pollution, water management, and emissions.
Furthermore, companies face hurdles in engaging suppliers and collecting relevant biodiversity data throughout their value chains. Consequently, when it comes to allocating budget among various sustainability initiatives, corporate practitioners struggle to present biodiversity as a compelling business case internally. To engage management and the Board – who are ultimately responsible for investment decisions - practitioners underscored the importance of framing the conversation around the business impact on nature rather than solely biodiversity.
Key recommendations emerged from the discussions, including prioritising risk avoidance, preparing for upcoming reporting standards, and supporting small farmers through biodiversity grading initiatives. Participants also emphasised the importance of leveraging geolocation for supply chain assessments and building strong relationships with local communities. Balancing quantitative and qualitative approaches, investing in biodiversity talent, and aligning climate transition efforts with biodiversity goals were identified as crucial strategies.
In the weeks ahead, the feedback gathered will inform the forthcoming White Paper of the Alliance on current business practices in biodiversity measurement and reporting, particularly in accordance with the European Sustainability Reporting Standards (ESRS), providing actionable recommendations for improvement.
As the Alliance progresses, members are considering the establishment of a broader multi-stakeholder platform dedicated to guiding biodiversity management and reporting efforts. This initiative may include the development of biodiversity KPIs, local biodiversity action plans, and enhanced supplier engagement.
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