Biodiversity and business
Biodiversity refers to the variety of all life forms on Earth, including different plants, animals, and ecosystems. Biodiversity and functioning ecosystems are a necessity for clean air, water, food, and materials that we all need to survive. Companies rely on nature for resources like land, water, and energy. But this dependency puts pressure on the environment.
WWF reports that wildlife populations have dropped significantly since 1970. The decline is largely caused by human activities, for example in terms of land use change, pollution, and climate change. Globally, more natural resources are used than what the planet can provide, leading to the loss of species and ecosystems with devastating consequences.
Protecting biodiversity is crucial for a sustainable and resilient future – both from a business perspective and for society at large.
Climate change is a key driver of biodiversity loss. Therefore, by working towards our climate targets we are also mitigating our impact on nature.
Our approach to limit our impact
Biodiversity is on our agenda and as a global company, we have a responsibility to understand and limit our impact on nature. Some of our recent actions include:
- In 2022, we updated our Safety, Health, Environment, and Quality (SHEQ) policy to include a commitment to preserve biodiversity.
- In 2023, we established an internal biodiversity team with representatives from all business areas to build competence, monitor developments, and guide the organization on biodiversity issues.
- In 2024, we conducted a Biodiversity Impact Assessment focusing primarily on impact related to our production sites and significant suppliers. Going forward, we will analyze and process the results of the impact assessment to identify relevant measures and address our impacts and risks related to biodiversity.
