The Economics of Ecosystems and Biodiversity (TEEB) for Business Report
TEEB is a global study, initiated by the G8 and five major developing economies and focusing on ‘the global economic benefit of biological diversity, the costs of the loss of biodiversity and the failure to take protective measures versus the costs of effective conservation'. TEEB makes the case for integrating the economics of biodiversity and ecosystem services in decision-making.
PwC is the only professional services firm making a significant technical contribution to the UN’s major study on TEEB report for business. A number of PwC specialists have performed supporting analysis and are co-authors in the report that aims to:
- Demonstrate how biodiversity loss and ecosystem decline can present both risks and opportunities to business.
- Examine the changing consumer behaviour for nature-friendly products and services and companies response.
- Summarise the links between business and biodiversity, focusing on the concept of ecosystem services.
- Describe recent initiatives to enable businesses to measure, value and report their impacts and dependencies on biodiversity and ecosystem services, and outline further work needed in this area.
- Identify practical tools to manage BES risks and deliver value.
- Highlight some emerging business models that deliver biodiversity benefits and ecosystem services on a commercial basis, and review the enabling frameworks needed to stimulate private investment and entrepreneurship.
- Aligning businesses actions in relation to biodiversity and ecosystem services with the wider corporate social responsibility initiatives.
- Review of business and biodiversity initiatives and an agenda for action by business as well as other stakeholders.
The full report which sets out the business case for biodiversity and ecosystem services (BES) is open for public consultation and can be found at www.teebweb.org.