Climate change and carbon emissions may have dominated the green business agenda over the past five years, but according to environmental think tank the World Resources Institute (WRI) firms are avoiding the risks associated with ecosystem degradation at their peril.
The WRI yesterday sought to address this failure of firms to prioritise ecosystem management and wildlife protection with the launch of a new set of guidelines designed to help companies develop strategies to manage the risks and opportunities arising from ecosystem degradation.
Developed in collaboration with the Meridian Institute and World Business Council for Sustainable Development (WBCSD) the Corporate Ecosystem Services Review offers best practice guidance on how to assess and manage the impact on ecosystems of business decisions and projects, including advice on how to identify associated operational, regulatory and reputational risks as well as new business opportunities arising from ecosystem protection.
"The world’s forests, wetlands, and other ecosystems are under tremendous pressure due to climate change, land conversion, and many other factors," said Jonathan Lash, president, WRI. “As ecosystems degrade, companies will face operational, regulatory, and reputational risks while those that offer solutions may find new business opportunities and new sources of revenue."
The guidelines have been road tested by five members of the WBCSD – Akzo Nobel, BC Hydro, Mondi, Rio Tinto, and Syngenta – which reported that they had helped in the development of strategies that they expected to enhance corporate performance.
"The methodology helped us identify and rank emerging problems, and provided us with a framework for turning risks into opportunities," said Peter Gardiner, natural resources manager at international paper and packaging manufacturer Mondi, adding that the company used the guidelines to implement a series of operational changes that improved the efficiency of its water use and led to the identification of new markets for some of its byproducts.
Fresh research revealing accelerated rate of climate change prompt renewed calls for more stringent carbon regulations 19 May 2008
New "guide of guides" aims to demystify sustainable forest product claims 07 Apr 2008
The UK government's chief scientific adviser has joined green lobby groups in asking for ethanol fuel targets to be reconsidered 25 Mar 2008
As influential business group drops opposition to idea trade ministry confirms it is to investigate launching a formal cap-and-trade scheme 21 Feb 2008
Greenpeace claims Nestle, Unilever and Procter & Gamble are all contributing to the destruction of precious Indonesian peat swamp forests through palm oil deployment 08 Nov 2007Drax unveils plans for 400MW co-firing facility that would allow it to burn biomass alongside coal at its giant power plant 22 May 2008
As San Francisco enacts the US's first carbon tax, institutional investors call on the Senate to support binding emission cuts of up to 90 per cent by 2050 22 May 2008
House of Representatives votes in favour of extending renewables tax credits, but fears remain that incentives will be allowed to lapse 22 May 2008
More news
Fresh from the acquisition of lighting specialist LPBV, Lighting Science boss Govi Rao explains how the expanded company plans to combat the supply constraints dogging the LED market 22 May 2008
With industrial plants wasting a huge chunk of the energy they generate through heat, scientists are exploring some wild and wacky ways of harnessing that lost power 21 May 2008
Firms may have woken up to the need to tackle global warming, but when it comes to adapting to its impacts too many remain fast asleep to both the risks and opportunities 20 May 2008 More in-depth
Post your comment
Send an email to the Business Green editor at feedback@businessgreen.com
