The European Business and Nature Summit will capitalize on the growing movement of companies across Europe considering biodiversity as a field for action, progress and opportunities.
Participating policymakers, as well as businesses and financial institutions, shared expertise and experience on how to increase the scale of action, how to mainstream biodiversity and natural capital within business models and policies and how to use nature sustainably to make it part of the solutions to solve current challenges. Business activities have an impact on the environment and are dependent on natural resources.
Natural capital assessment and valuation must be standardized and integrated into accounting systems in order to properly comprehend and manage both parts of the double-materiality. Business decision-makers will be able to make more sustainable decisions and report on their impacts and dependencies through natural capital accounting.
A defined set of KPIs must be established to measure progress based on political goals (such as the Green Deal) and represented in agreed-upon reporting structures (e.g., CSRD, Taxonomy).
Thomas Verheye (DG Environment in the EU context), Jan-Menko Grummer (EY), Florian Klinkhammer (BMW/seconded at VBA), Andreza Souza (Natura), Gerbrand Haverkamp (World Benchmarking Alliance) were among the five speakers in the group session Developing new KPIs to uncover the natural capital value for business, and moderator Martin Lok (Capitals Coalition).
Watch the full session below: