Nature Positive in Business

Version	Summary	Created by	Modification	Content Size	Created at	Operation
1		Martin George Wynn	--	583	2024-05-06 09:37:12	\|
2	update references	Sirius Huang	Meta information modification	583	2024-05-06 09:41:21	\|

Peer Reviewed

This is a peer-reviewed entry published in Encyclopedia Journal, full entry can be found at 10.3390/encyclopedia4020049

The concept of nature positive has recently emerged from the widespread recognition of the global scale at which nature is being lost and the threat this poses to the collective survival of the human race. Much of the interest in nature positive reflects the initial commitment to it by conservation organisations and by a number of international political initiatives. However, the pursuit of nature positive approaches by businesses has received little attention in the business and management literature. Building upon an analysis of secondary sources, this entry paper first examines how three international organisations suggest a nature positive strategy could be pursued. This paper then focuses on two multinational companies and how they plan to pursue a nature positive approach to their business activities. This article identifies a number of critical factors in developing a nature positive strategy: incorporating suppliers in this strategy, assessing corporate dependencies and impacts on nature, and reporting on nature positive initiatives and outcomes. At the same time, this article raises concerns that nature positive approaches could be driven more by business imperatives rather than fundamental corporate concerns about biodiversity and that many business commitments to nature positive could be seen as mainly aspirational.

nature positive sustainability greenwashing consultancy guidelines corporate actions

Within the world of business, there is a long-standing, though certainly not universal, belief that companies have a responsibility to the world around them, which Davoudi et al. ^[1] traced back to the third millennium BC. More recently, the main focus of attention in this field has been on Corporate Social Responsibility (CSR), and Bowen ^[2] is generally cited as the first academic to work in this genre. However, in the years since then, other related business strategies have emerged, including the Triple Bottom Line ^[3] and Environment, Social, and Governance (ESG) reporting ^[4]. More recently, as digital technologies have come to the fore, so has the concept of Corporate Digital Responsibility ^[5].

In this context, Lambertini and Zabey ^[6] (paras. 1–2) claimed that while “it is rare that environmental terms become buzzwords”, in recent months “nature positive has hit the mainstream” and claimed that “major businesses…… are setting out how they plan to contribute to a nature-positive world”. There is limited evidence that some business sectors—for example, the insurance industry ^[7] and tourism ^[8]—are embracing the nature positive concept, but in 2023 three major international organisations, namely, PWC, the World Economic Forum, and the International Union for the Conservation of Nature and Natural Resources (IUCN), all published documents exploring how businesses might pursue a nature positive approach to their activities. At the same time, a small number of companies have looked to publicly address how they plan to adopt a nature positive approach. These include Unilever and Gucci, who have reported on how they plan to pursue a nature positive approach in their business activities. A study of the secondary sources from these five organisations forms the core of this article, which consists of six sections. Following this Introduction, the Genesis and History section traces the origins and recent evolution of key concepts and notes their definitions. The following section briefly examines the approach to information discovery and analysis used here, being based on a combination of secondary sources from three international consultancies, two major companies and other web sources. Drawing upon these sources, Section 4 then assesses the current status of nature positive in these organisations. In Section 5, these findings are evaluated and discussed. Finally, Section 6 offers some concluding remarks and identifies both the limitations of this entry paper and possible future research agendas.

References

Davoudi, L.; McKenna, C.; Olegario, R. The historical role of the corporation in society. J. Br. Acad. 2018, 6, 17–47.
Bowen, H.R. Social Responsibility of the Businessman; Harper and Row: New York, NY, USA, 1953.
Elkington, J. 25 Years Ago I Coined the Phrase ‘Triple Bottom Line’: Here’s Why It’s Time to Rethink It. Harv. Bus. Rev. 2018, 6, 2–5. Available online: https://hbr.org/2018/06/25-years-ago-i-coined-the-phrase-triple-bottom-line-heres-why-im-giving-up-on-it (accessed on 2 April 2024).
Byrne, D. What is the history of ESG? Corporate Governance Institute. 2024. Available online: https://www.thecorporategovernanceinstitute.com/insights/lexicon/what-is-the-history-of-esg/#:~:text=A%202004%20report%20from%20the,to%20embrace%20ESG%20long%2Dterm (accessed on 15 April 2024).
Wynn, M.; Jones, P. Corporate responsibility in the digital era. Information 2023, 14, 324.
Lambertini, M.; Zabey, E. Comment: Nature Positive Has Hit the Mainstream. We Need to Ensure It Delivers Transformation Not Greenwashing. Reuters, 28 November 2023. Available online: https://www.reuters.com/sustainability/land-use-biodiversity/comment-nature-positive-has-hit-mainstream-we-need-ensure-it-delivers-2023-11-28/ (accessed on 14 February 2024).
Golnaraghi, M.; Mellot, A. Nature and the Insurance Industry: Taking Action towards a Nature Positive Economy; The Geneva Association: Zurich, Switzerland, 2022; Available online: https://www.genevaassociation.org/sites/default/files/2022-11/nature_and_insurance_summary.pdf (accessed on 21 April 2024).
Jones, P. Nature Positive Tourism. Athens J. Tour. 2024, 11, 95–108.

© Text is available under the terms and conditions of the Creative Commons Attribution (CC BY) license; additional terms may apply. By using this site, you agree to the Terms and Conditions and Privacy Policy.

Upload a video for this entry

Information

Subjects: Business

Contributors MDPI registered users' name will be linked to their SciProfiles pages. To register with us, please refer to https://encyclopedia.pub/register :

Peter Jones

Martin Wynn

View Times: 248

Online Date: 06 May 2024

Table of Contents

Video Upload Options

Confirm

References