Why is Biodiversity important for business?
Biodiversity is the variety of life on earth that underpins the well-being of billions of people every single day. It provides a myriad of ecosystem services including the delivery of food, clean air and water, nutrient cycling and carbon sequestration. Its loss poses serious risks to business operations, threatening resource availability, supply chains, and water supply. The economic value of these services are vast and are very often ignored in corporate decision-making.
The value of ecosystems
On a global scale ecosystem services are estimated to range between 125 and 140 trillion dollars per year, far more than the world’s gross domestic product. But, despite our dependency on biodiversity, large-scale inefficiencies in our production and consumption systems still remain. Highlighting the financial value of biodiversity and carefully calculating the recognised gains from not harming the environment represents a clear way of financially valuing nature and using market mechanisms to protect it. The integration of business interests into conservation gives opportunities for making more money, helps to fulfil corporate goals, all the while protecting biodiversity.
A business case for biodiversity
There is a strong business case for biodiversity scale-up. Many business depends on and impacts upon it without even knowing. So, it’s now more important than ever to measure and understand these dependencies and impacts for 1) risk management and 2) for developing new business opportunities. But measuring and managing dependencies and impacts can be complex and often requires the integration of what can sometimes be competing forms of knowledge (e.g. scientific, economic) with values (e.g. social, commercial).
Co-creation: what is it and why is it importance?
Co-creation is the collective development of new concepts, solutions, products and services with experts and stakeholders (businesses, farmers, producers, processors, retailers and customers) to come up with innovative ideas that will be shared and improved on from generation to generation. Ecological knowledge can help businesses to transform operations regarding biodiversity, but gaining this knowledge often requires collaborations beyond organisational boundaries. Business innovations respond better to local challenges when they are co-created through sharing processes including understanding ecological interdependencies. Tackling biodiversity loss depends on indigenous knowledge that moves away from fixed prescriptions and embraces practices that are custom-made to fit environmental, social, economic, cultural and political context.
So, how can we help you?
We aim to demystify the science, de-clutter the data and help create real solutions for businesses. We will help you to access emerging tools, employ new methodologies and initiatives in order to account for and integrate biodiversity into your decision making strategies. Circular Thinking Solutions uses co-creation methods to address gaps in understanding processes of ecological knowledge transfer and how this knowledge translates into operational reforms regarding biodiversity for the benefit of the business. By providing businesses with the information they need to incorporate the environment into their decision making and long-term cost calculations, we can put our expertise to use in improving outcomes, both for natural systems and for corporations.
Get in touch with us to discuss your project by booking an appointment on our website or calling us on +353 87 6868 296