As we count the cost of more flooding at home and look abroad at the shocking destruction in California and Valenica, The Green Finance Institute’s estimate that damage to the environment could lead to a 12% reduction to GDP in the years ahead seems conservative. Indeed, the Institute and Faculty of Actuaries (IFoA) estimates the global economy could face a staggering 50% decline in GDP between 2070 and 2090 due to the catastrophic impacts of climate change, unless action is taken to decarbonise and restore nature. 

Business is increasingly aware of the risk to their bottom line posed by climate breakdown – and the fact the nature and climate crises are strongly linked. In the aftermath of COP16 and COP29, The Wildlife Trusts and The Crown Estate brought together sustainability figureheads to discuss how UK business can lead in delivering the Global Biodiversity Framework. The atmosphere in the room was confident, focused on the urgency of achieving the 30 by 30 target, despite the somewhat underwhelming outcomes from Cali and Baku. 

However, if business is to act urgently, it can’t wait for the UK Government. A recent report from the Aldersgate Group stresses that policy uncertainty is hampering business contributions towards a nature-positive economy. The list of recommendations to align environmental goals with business operations is well worth a read for all those with a stake in this area. 

Some businesses are forging ahead. At our post-COPs event in London the discussion outlined the steps leading businesses are taking, even in the face of regulatory uncertainty, to proactively tackle nature-related issues. These steps must be emulated.  

Integrate Nature and Climate: Businesses must advocate for the coupling of nature and climate in policy discussions, as well as participate in both climate and nature COPs to foster integrated solutions and, in addition, develop their own comprehensive business strategies that offer integrated solutions. 

Business Leadership in Biodiversity: Using the Transition Plan Taskforce framework, businesses must align business goals and actions with global biodiversity targets, to incorporate nature on the balance sheet and build resilient communities by mainstreaming nature into climate resilience strategies – and report publicly on their progress to ensure accountability. 

Nature-based Solutions: Use nature to address the consequences of climate breakdown wherever material to a company’s value chain. Implement solutions like wetlands and sustainable urban drainage systems for flood management, assess co-benefits for climate, people, and biodiversity, and engage the public to enhance mental health and community involvement. 

Finance Nature: Use the UK’s strength in the financial sector to focus on natural capital markets where the business sector needs opportunity, certainty, and stability to invest. 

Collaboration and Partnerships: Partner with stakeholders, such as environmental NGOs to gain diverse perspectives, creating trust-based markets for nature-based solutions and carbon credits, and pilot projects to scale biodiversity net gain initiatives. 

By staying ahead of forthcoming regulations and actively participating in shaping a sustainable future, businesses not only comply with new policies but also gain a competitive edge.  

The Wildlife Trusts welcomes The Crown Estate’s publication of measures and targets to support its nature recovery ambition across rural, marine and urban environments – and to support its contribution to 30 by 30. These measures include an increase to its Rural Environment Fund, which supports farmers with making the transition to farming that is positive for nature as well as producing food, and a commitment to publish a map of marine nature opportunity areas as part of its Marine Delivery Routemap and to double the area of seabed leased for nature-focused activities by 2030. 

Another great example is the Aviva Temperate Rainforest Programme. Going beyond traditional habitat restoration, the programme will work to establish entirely new woodlands across eligible sites totalling more than 2,000 hectares. Aviva’s support for nature-based solutions, is enabling The Wildlife Trusts to secure land and establish rainforest (with area-appropriate native trees), forever.  These new sites provide authentic additionality and are being seen as a win for conservation, as well as being important hubs for collaboration. Local communities will be offered numerous opportunities to get involved, including employment, training and volunteering.   

The programme meets multiple environmental, social and good governance goals (ESGs), including biodiversity improvements, climate change adaptation, improved flood resilience and community benefits from these reduced threats, as well as the improved wellbeing benefits that access to these iconic sites will bring. It also demonstrates the power of using nature-based solutions to tackle issues material to the insurance industry, that is the threat to the bottom line that climate breakdown poses; improving systemic resilience to drive a much greater suite of benefits for generations to come. 

2025 is going to be a critical year if we are to get anywhere near to achieving 30 by 30. The steps being taken by leading businesses must be readily adopted by others while the regulatory framework becomes clear. In particular, businesses can make extraordinary impact when they focus their efforts in collaboration with others, just like with the Temperate Rainforest Programme, and we need them to do so now.  

To find out more about how we work with businesses to help nature's recovery, enhance employee well-being, and engage customers in meaningful ways, visit our partnerships page on the link below.  

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