GlobeScan’s shared research program on The Climate & Nature Nexus addresses a key question for many companies’ sustainability/ESG teams on how to better align their strategies and programs on climate and nature. The program and final report provide insights and good practices based on the views of business leaders, 200+ expert stakeholders across sectors, and a survey of 30,000 people across 31 countries. The research builds on GlobeScan’s prior Navigating the Nature Agenda program.
Nature and climate have vast impacts on the global economy, business, and society. Well over one-third of global GDP is moderately or highly dependent on nature. Factors behind the heightened attention from stakeholders include 1) the economic and business value of nature and climate; 2) recent policy and regulation; and 3) new sustainability/ESG standards. The finance sector and investors have been a driving force behind the new Global Biodiversity Framework (GBF), Taskforce on Nature-related Financial Disclosures (TNFD), and sector guidance on the transition to Nature Positive.
Our findings include a business playbook for action on The Climate & Nature Nexus that offers guidance on engaging senior executives; elevating nature and biodiversity in sustainability/ESG strategies and programs; and deploying more balanced and integrated approaches to climate, nature, and social issues.
Stakeholders’ key asks of companies on the climate and nature nexus are to take action with more holistic approaches, invest in proportional impact for climate, nature, and people, and assume collective responsibility for driving systems change.
Key Takeaways from the Research and Report:
- Most experts around the world consider the states of both climate and nature to be “alarming” or “catastrophic,” and 94 percent of experts agree biodiversity loss needs the same level of urgency and resources as climate change.
- Experts and the global public hold governments and companies most responsible for addressing climate change and protecting nature, and these actors are the most in need of improving their performance in both areas.
- Companies need to take much more integrated approaches to nature, climate, and social issues and elevate nature and biodiversity in their sustainability/ESG strategies, programs, and engagement.
- The playbook for business action on the climate and nature nexus includes cultivating executive support; building on existing programs and knowledge; understanding placed-based impacts and dependencies; elevating nature and biodiversity in strategy, goals, and programs; building organizational capacity; and emphasizing action and impact.
- Nature-based solutions (NBS) are powerful, flexible tools to deliver multiple benefits for climate, nature, and people. High-quality carbon credits can make a valuable contribution to filling the gap in financing and incentives for NBS.
- Prioritizing people, inclusion, and rights-based approaches is a key success factor for impact, equity, and long-term, lasting progress on climate and nature.
