Will biodiversity risk become 'material' for mainstream businesses, or alternatively, will biodiversity related opportunities capture the imagination of business leaders?
The 10th Conference of the Parties to the Convention on Biological Diversity (CoP 10) in Nagoya, the publishing of a major international study on The Economics of Ecosystems and Biodiversity (TEEB) (often referred to as the 'Stern Report' for biodiversity), and the United Nations 'International Year of Biodiversity' all converge in 2010. As a result, 2010 is widely seen as a make or break year for biodiversity preservation.
At the start of this crucial year for biodiversity PwC has prepared a paper for the World Economic Forum which explores the real and present risks that biodiversity loss and ecosystem degradation pose for business. The report contrasts current perceptions amongst key decision makers with the degree of economic value at risk, and goes on to outline a series of pragmatic steps that businesses can take to evaluate and manage their exposure.
Of course, where there are risks there are also opportunities, with new trading mechanisms and markets, new technologies and design approaches, and improved land-use models, a new green economy presents a myriad of new areas for businesses to create value.
Population growth and pressures on land use over the coming decades, coupled with growing awareness of ecosystem damage amongst consumers and policy makers, mean that biodiversity risks and opportunities are likely to grow.
Are you positioned to exploit the opportunities and manage the risks that affect your business?
Read the full report - Biodiversity and business risk