BCSD Australia News
Business Council for Sustainable Development Australia
Galvanizing forward-thinking companies and organizations to accelerate the transition to a sustainable Australia.
Welcome to this week's Business Council for Sustainable Development Australia (BCSDA) newsletter. This edition highlights the urgent need for freshwater consumption and biodiversity targets among Fortune Global 500 companies, with only a fraction having set such goals. Learn more about the recently enforced EU Nature Restoration Law, which promises significant returns on investment in ecosystem restoration.
We also discover how Capitals Coalition is accelerating business action at COP16 and the upcoming Train-the-Trainer course on Natural Capital for business decision-making.
Stay informed and engaged with these critical updates in sustainability and corporate responsibility.
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Led by High-Level Climate Champions, Race to Zero is a campaign rallying non-state actors to take immediate action to contribute to halving global emissions by 2030.
As one of its more than 30 accelerators, we'll be:
?? Helping raise awareness of the campaign
?? Helping build the capacity of non-state actors to deliver ambitious #NetZero action
?? Continuing to drive credible business action and policy ambition on nature, including through the 'It's #NowForNature' campaign
Did you know that the World Benchmarking Alliance found that while 83% of Fortune Global 500 companies have climate change targets, only 25% have freshwater consumption targets? And that only 5% have assessed their impacts on nature and set targets related to biodiversity loss?
Check out our #NaturePositive roadmap for #agrifood systems to understand how business can play its important part in halting and reversing #nature loss by 2030.
The economic cost of the degradation of #Nature is very high, with every euro spent on restoration delivering a return on investment of more than €8, depending on the ecosystem.
In a recent press release, EU Environment and Climate explores how the Nature Restoration Law plans to meet EU-wide objectives for Nature restoration, namely through:
?? National restoration plans, where each Member State will develop a national restoration plan, setting out restoration needs and measures to fulfill the obligations and achieve the targets of the law adapted to the national context.
?? Quantified and time-bound restoration targets for habitats included in Annex I of the Habitats Directive, as well as targets for habitats of protected species under the Habitats and the Birds Directives, and restoration targets for essential marine habitats covered by the nature directives and the Marine Strategy Framework Directive.
At the recent African Regional Conservation Forum 2024, Africa demonstrated dedication to its Sustainable Agenda 2063. However, to achieve this, Africa must integrate conservation with long-term development, ensuring natural heritage and economic goals thrive together.
In a recent article for IUCN, Humphrey Kariuki calls for collaboration in African conservation, suggesting the following approaches:
?? Demonstrating the value of conservation efforts to communities living near protected areas.
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?? Recognising the true value of Africa's #Biodiversity, essential for allocating resources for future generations.
?? Reconsidering its approach to conservation, embracing innovation, and asserting its role in global conservation governance.
Accelerating Business Action at #COP16 ??
Join 500 invitation-only sustainability professionals to explore how companies can halt and reverse nature loss within their operations and supply chains.
?? Expression of Interest Now Open! ??
?? This program is designed to equip experienced professionals with the knowledge and skills to deliver impactful training on the Capitals Approach.
?? Course details:
Course Start Date: November 2024
Duration: ~20 hours
Format: Online modules with an option for an in-person gathering.
As an Accredited Trainer, you'll bridge the skills and knowledge gap in the private sector, empowering organisations to effectively address social and environmental impacts. Join a global network of professionals dedicated to advancing sustainability.
For the 4th appointment of our #CSRDEssentials campaign, we’ll focus on materiality. The Directive is reshaping reporting dynamics, emphasising the importance of materiality assessment; here’s the main features introduced by the CSRD:
?Striking a balance between financial implications and societal/environmental impacts is key.
?Robust engagement with stakeholders aids in identifying sector-specific impacts and aligning reporting practices.
?Tailored approaches to materiality assessment are essential due to diverse economic activities and organisational structures.
?Materiality assessment should not be seen as a mere compliance exercise, but rather as a strategic imperative for gaining a competitive edge.
From fashion to fossil fuels, supply chain action on water is urgently needed across the global economy.
Find out which sectors are finding solutions with real impact in our report: https://lnkd.in/encnpsYn