New guidance to help organisations become ‘nature positive’ in helping tackle the growing risks related to biodiversity loss has been issued by the Association of British Insurers (ABI).
It said nature loss exposes businesses to a wide range of risks, which in turn impacts markets and financial performance. Some studies have estimated that half of global GDP (trn) is highly to moderately dependent on nature.
ABI director-general Hannah Gurga said: “Nature loss is one of the most crucial issues facing our planet. It’s shocking decline not only threatens life but will harm businesses and prevent economic growth.
“Yet many businesses have not found it easy to assess their reliance on nature, or to recognise its importance to their business strategies. Our guide will enable our members to better understand this issue, the risks and opportunities it poses to them and their customers, so that they are truly ‘nature positive’.”
There has been a 70% drop in global wildlife populations since 1970; in the UK, a quarter of mammals are at risk of extinction, with 84% of rivers in poor ecological health. The UK ranks in the bottom 10% of countries for biodiversity. Drivers for this loss include climate change, changes in land use, pollution and invasive species.
The ABI’s guidance is launched at the association’s third annual Climate Change summit, where progress among ABI members to reaching net zero is assessed.
AIA’s Chief Executive, Philip Turnbull commented ‘‘It is encouraging to see organisations like the ABI taking a holistic approach and actively working towards a more sustainable future. Biodiversity loss poses significant risks not only to the environment but also to businesses and the economy as a whole. We encourage our members to recognise the importance of integrating biodiversity considerations into their business strategies.’
Read AIA’s sustainability promise.
We encourage our members to recognise the importance of integrating biodiversity considerations into their business strategies.
Philip Turnbull, Chief Executive, AIA
