https://climatejournal.news/ en https://climatejournal.news/news/unleashing-the-potential-of-nature-finance-a-pathway-to-mitigate-risks-and-unlock-benefits <div class="field field--name-title field--type-string field--label-hidden field--item"><span>Unleashing the potential of nature finance: a pathway to mitigate risks and unlock benefits</span> </div> <span class="a2a_kit a2a_kit_size_32 addtoany_list" data-a2a-url="https://climatejournal.news/news/unleashing-the-potential-of-nature-finance-a-pathway-to-mitigate-risks-and-unlock-benefits" data-a2a-title="Unleashing the potential of nature finance: a pathway to mitigate risks and unlock benefits"><a class="a2a_button_linkedin"><img src="/libraries/bsp_social_media_icons_share/service/linkedin.svg" border="0" alt="LinkedIn" height="18" class="social-media-links-normal"><img src="/libraries/bsp_social_media_icons_share/service/linkedin_hover.svg" border="0" alt="LinkedIn" height="18" class="social-media-links-hover"></a><a class="a2a_button_facebook"><img src="/libraries/bsp_social_media_icons_share/service/facebook.svg" border="0" alt="Facebook" height="18" class="social-media-links-normal"><img src="/libraries/bsp_social_media_icons_share/service/facebook_hover.svg" border="0" alt="Facebook" height="18" class="social-media-links-hover"></a><a class="a2a_button_twitter"><img src="/libraries/bsp_social_media_icons_share/service/twitter.svg" border="0" alt="Twitter" height="18" class="social-media-links-normal"><img src="/libraries/bsp_social_media_icons_share/service/twitter_hover.svg" border="0" alt="Twitter" height="18" class="social-media-links-hover"></a><a class="a2a_button_email"><img src="/libraries/bsp_social_media_icons_share/service/email.svg" border="0" alt="Email" height="18" class="social-media-links-normal"><img src="/libraries/bsp_social_media_icons_share/service/email_hover.svg" border="0" alt="Email" height="18" class="social-media-links-hover"></a><a class="a2a_dd" href="https://www.addtoany.com/share"><img src="/libraries/bsp_social_media_icons_share/service/share_hover.svg" border="0" alt="Share" height="18" class="social-media-links-hover"><img src="/libraries/bsp_social_media_icons_share/service/share.svg" border="0" alt="Share" height="18" class="social-media-links-normal"> Share </a></span> <div class="field field--name-field-tags field--type-entity-reference field--label-inline"> <div class="field--label">Tags</div> <div class="field--items"> <div class="field--item"><a href="/tag/finance" hreflang="en">Finance</a></div> <div class="field--item"><a href="/tag/nature-based-solutions" hreflang="en">Nature-based Solutions</a></div> <div class="field--item"><a href="/tag/nature-positive-economy-0" hreflang="en">Nature Positive Economy</a></div> <div class="field--item"><a href="/tag/nature-conversation" hreflang="en">Nature Conversation</a></div> <div class="field--item"><a href="/tag/business" hreflang="en">Business</a></div> <div class="field--item"><a href="/tag/economy" hreflang="en">Economy</a></div> </div> </div> <div class="field field--name-field-topic field--type-entity-reference field--label-inline"> <div class="field--label">Topic</div> <div class="field--items"> <div class="field--item"><a href="/topic/nature-positive-economy" hreflang="en">Nature Positive Economy</a></div> </div> </div> <img alt="Unleashing the potential of nature finance: a pathway to mitigate risks and unlock benefits" title="Unleashing the potential of nature finance: a pathway to mitigate risks and unlock benefits" class="img-responsive" src="/files/styles/news_full_main_image/public/bsp-images/news/1470.jpg?itok=bemSC4Dy" width="687" height="687" loading="lazy" typeof="foaf:Image" /> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-simple paragraph--view-mode--default paragraph--id--4554 paragraph--width--full" style=""> <div class="paragraph__column"> </div> </div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-simple paragraph--view-mode--default paragraph--id--4555 paragraph--width--full" style=""> <div class="paragraph__column"> <p>The loss of wildlife has rapidly accelerated and has reached a staggering 69% decline on average since 1970, according to World Wild Fund's latest <a href="https://livingplanet.panda.org/en-GB/" target="_blank">Living Planet Report</a>, which we could assume is an issue for environmentalists to deal with.</p> <p>However, nature provides all kinds of ecosystem services that businesses leverage, directly or indirectly, and according to <a href="https://kpmg.com/dp/en/home/insights/2023/11/putting-nature-at-the-heart-of-our-economy.html" target="_blank">KPMG</a>, more than half the world’s economic output depends on nature, and its contribution is estimated at more than $125 trillion USD annually.</p> <p>“Businesses rely on nature for products and suitable operating conditions. If these services are lost, it will affect business profitability and viability,” says Gillian Power, Director of Communications and Marketing at the <a href="https://isfcoe.org/" target="_blank">International Sustainable Finance Centre of Excellence </a>(ISFCOE), also referred to as the Centre.</p> <p>She adds:</p> </div> </div> <div class="paragraph paragraph--type--bp-columns-two-uneven paragraph--view-mode--default paragraph--id--4558 paragraph--width--full paragraph--style--66-33"> <div class="paragraph__column"> <div class="paragraph--type--bp-columns-two-uneven__2col-column1"> <div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-simple paragraph--view-mode--default paragraph--id--4556 paragraph--width--full" style=""> <div class="paragraph__column"> <blockquote> <p>“While the economic value extracted from nature has continued to grow, such as crop production, many of nature’s other contributions to people are in decline, like soil productivity or pollinator abundance.”</p> </blockquote> <p>The Centre first released its scoping study, ‘Nature and biodiversity finance: Risks and opportunities for Ireland’ in 2022 to examine the biodiversity agenda and highlight nature-related risks and potential impacts on various sectors, such as agriculture, real estate, and manufacturing.</p> <p>Gillian explains that “the financial sector drives nature loss through the activities it lends to, insures, and invests in and is also exposed to financial risks from short- and long-term nature loss.”</p> </div> </div> </div> </div><div class="paragraph--type--bp-columns-two-uneven__2col-column2"> <div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-image paragraph--view-mode--default paragraph--id--4557 paragraph--width--full"> <div class="paragraph__column"> <div class="field field--name-bp-image-field field--type-image field--label-hidden field--item"> <img alt="" title="" src="/files/bsp-images/paragraph/1471.jpg" width="675" height="675" loading="lazy" typeof="foaf:Image" class="img-responsive" /> </div> <div class="field field--name-field-image-title field--type-string field--label-hidden field--item">Gillian Power, Director of Communications and Marketing at the International Sustainable Finance Centre of Excellence (ISFCOE)</div> </div> </div> </div> </div> </div> </div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-simple paragraph--view-mode--default paragraph--id--4559 paragraph--width--full" style=""> <div class="paragraph__column"> <p>To put this in perspective, she shares an example of the greenhouse gas emissions induced by Canadian banks' investments and loans to fossil fuel companies being 100 times higher than the operational emissions from the banks themselves.</p> <blockquote> <p>She underscores that the finance sector, with its pivotal role in directing capital flows, has the power to steer away from detrimental practices and towards more sustainable investments, thereby contributing to net-zero goals.</p> </blockquote> </div> </div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-simple paragraph--view-mode--default paragraph--id--4560 paragraph--width--full" style=""> <div class="paragraph__column"> <p>“Banks have allocated over $2.6 trillion to sectors predominantly accountable for biodiversity loss, with many lacking sufficient processes or policies to monitor or mitigate these impacts and their exposure to nature-related risks. Similarly, globally, publicly funded development banks are estimated to finance approximately $800 billion in harmful activities annually.”</p> <p>Based on their first study, ISFCOE realised that more detailed research covering the full spectrum of biodiversity-related risks and opportunities for the Irish financial system was needed, which led them to publish the <a href="https://isfcoe.org/wp-content/uploads/2023/12/KPMG-ISFCOE-Dec-23-Final-Ebook-3-MASTER-v3.pdf" target="_blank">Nature of Finance report</a> in 2023.</p> </div> </div> <div class="paragraph paragraph--type--bp-columns-two-uneven paragraph--view-mode--default paragraph--id--4563 paragraph--width--full paragraph--style--33-66"> <div class="paragraph__column"> <div class="paragraph--type--bp-columns-two-uneven__2col-column1"> <div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-image paragraph--view-mode--default paragraph--id--4561 paragraph--width--full"> <div class="paragraph__column"> <div class="field field--name-bp-image-field field--type-image field--label-hidden field--item"> <img alt="" title="" src="/files/bsp-images/paragraph/1472.jpg" width="649" height="914" loading="lazy" typeof="foaf:Image" class="img-responsive" /> </div> <div class="field field--name-field-image-title field--type-string field--label-hidden field--item">The Nature of Finance report is Ireland’s first study on nature-related risks and opportunities to the financial sector, published by Dublin-based International Sustainable Finance Centre of Excellence.</div> </div> </div> </div> </div><div class="paragraph--type--bp-columns-two-uneven__2col-column2"> <div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-simple paragraph--view-mode--default paragraph--id--4562 paragraph--width--full" style=""> <div class="paragraph__column"> <p>KPMG Sustainable Futures and ISFCOE co-authored the report with support from Skillnet Ireland to establish a baseline in this area, raise awareness of the sector's interactions with and reliance on nature, and ignite deeper investigations.</p> <blockquote> <p>This first-of-its-kind landmark study found that more than half (58%) of Irish lending goes to economic sectors with a high dependency on biodiversity and nature, while 94% (€85 billion) of lending goes to industries that potentially have a high impact on nature.</p> </blockquote> <p>It also showed a clear link between bank lending in Ireland and economic sectors highly dependent on ecosystem services and impact nature in areas like managing surface and groundwater, climate regulation, flood and storm protection, erosion control, and pollination.</p> </div> </div> </div> </div> </div> </div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-simple paragraph--view-mode--default paragraph--id--4564 paragraph--width--full" style=""> <div class="paragraph__column"> <p>In addition, it recognises that Ireland hosts one of the largest insurance services sectors in Europe, which could open up new opportunities.</p> <p>“The insurance industry in Ireland is a key agent of change in the move towards a more sustainable economy and society.”</p> <p>She adds: “Transitioning to a carbon-neutral economic model requires long-term financing, and insurers are amongst the most significant institutional investors.</p> <blockquote> <p>Many insurers have started to screen their investments using ESG criteria and increase their sustainable investment commitments.</p> </blockquote> <p>As a result, they have become significant investors in green, social, and sustainable financial instruments.”</p> <p>Based on her experience, Gillian believes that insurers and reinsurers increasingly acknowledge the imperative of addressing nature-related risks within their risk management and underwriting frameworks.</p> <p>“Loss of biodiversity and degradation of nature pose risks for the financial sector, including physical risk due to increased frequency and severity of natural disasters such as floods, droughts, and storms, leading to infrastructure damage and disrupted supply chains.</p> <p>You will also need to manage market risk, which means consumers are shifting preferences towards environmentally sustainable products and services.</p> <p>Besides, businesses operating in sectors dependent on natural resources may face increased credit risks due to their vulnerability to environmental shocks and regulatory changes.</p> <p>Given the scale and complexity of nature-related financial impacts, risks, and opportunities and how underdeveloped this area is, the report proposed a draft Nature Finance Roadmap to position Ireland as a leader on the nature finance agenda.</p> </div> </div> <div class="paragraph paragraph--type--bp-columns-two-uneven paragraph--view-mode--default paragraph--id--4567 paragraph--width--full paragraph--style--58-42"> <div class="paragraph__column"> <div class="paragraph--type--bp-columns-two-uneven__2col-column1"> <div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-image paragraph--view-mode--default paragraph--id--4565 paragraph--width--full"> <div class="paragraph__column"> <div class="field field--name-bp-image-field field--type-image field--label-hidden field--item"> <img alt="" title="" src="/files/bsp-images/paragraph/1473.jpg" width="1233" height="743" loading="lazy" typeof="foaf:Image" class="img-responsive" /> </div> <div class="field field--name-field-image-title field--type-string field--label-hidden field--item">Nature Finance Roadmap draft proposed in the Nature of Finance report as a next step.</div> </div> </div> </div> </div><div class="paragraph--type--bp-columns-two-uneven__2col-column2"> <div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-simple paragraph--view-mode--default paragraph--id--4566 paragraph--width--full" style=""> <div class="paragraph__column"> <p>This Roadmap mirrors <a href="https://isfcoe.org/wp-content/uploads/2024/04/F9ysNG-Irish-SusFinance-Roadmap-FINAL-FINAL-OCTOBER-2021.pdf" target="_blank">Ireland's Sustainable Finance Roadmap</a> introduced in 2021 and is structured around its five main pillars: developing talent, improving industry readiness, leveraging digital and data, creating a nature-positive enabling environment, and enhancing communications and engagements on nature and finance risks and opportunities.</p> <p>It also recommends establishing a Nature Finance Roadmap Delivery Group as an additional Pillar 0, including experts and stakeholders from public, private, and academic institutions.</p> </div> </div> </div> </div> </div> </div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-simple paragraph--view-mode--default paragraph--id--4568 paragraph--width--full" style=""> <div class="paragraph__column"> <p>Gillian further explains that the public sector is currently the more prominent actor in nature-based and biodiversity finance, offering financial instruments that would encourage businesses to advance conservation outcomes through tax breaks and other incentives.</p> <p>She points out that the State also has a critical role in attracting foreign direct investment as capability and critical mass of expertise emerges.</p> <blockquote> <p>“Our ongoing research in the nature and biodiversity finance space has presented us with a unique set of opportunities for both private and public sector financial actors and businesses in Ireland.</p> </blockquote> <p>We are also advancing efforts in the space through ‘Communities of Practice’ discussions and by working on developing an upcoming course for finance professionals on Biodiversity Finance.”</p> </div> </div> <div class="field field--name-field-background-style field--type-list-string field--label-above"> <div class="field--label">Background style</div> <div class="field--item">Light</div> </div> <div class="field field--name-field-sponsored field--type-boolean field--label-above"> <div class="field--label">Sponsored?</div> <div class="field--item">No</div> </div> <div class="field field--name-created field--type-created field--label-hidden field--item">May 2024</div> <div class="field field--name-field-collaborative-content-with field--type-entity-reference field--label-inline"> <div class="field--label">Collaborative content with</div> <div class="field--item"> <a href="/partner/profit-with-purpose-magazine">Profit with Purpose Magazine</a> </div> </div> Thu, 16 May 2024 15:59:49 +0000 Szilvia Szabó 330 at https://climatejournal.news https://climatejournal.news/news/doughnut-economics-envisioning-how-humanity-can-thrive-in-the-21st-century <div class="field field--name-title field--type-string field--label-hidden field--item"><span>Doughnut Economics – Envisioning how humanity can thrive in the 21st Century</span> </div> <span class="a2a_kit a2a_kit_size_32 addtoany_list" data-a2a-url="https://climatejournal.news/news/doughnut-economics-envisioning-how-humanity-can-thrive-in-the-21st-century" data-a2a-title="Doughnut Economics – Envisioning how humanity can thrive in the 21st Century"><a class="a2a_button_linkedin"><img src="/libraries/bsp_social_media_icons_share/service/linkedin.svg" border="0" alt="LinkedIn" height="18" class="social-media-links-normal"><img src="/libraries/bsp_social_media_icons_share/service/linkedin_hover.svg" border="0" alt="LinkedIn" height="18" class="social-media-links-hover"></a><a class="a2a_button_facebook"><img src="/libraries/bsp_social_media_icons_share/service/facebook.svg" border="0" alt="Facebook" height="18" class="social-media-links-normal"><img src="/libraries/bsp_social_media_icons_share/service/facebook_hover.svg" border="0" alt="Facebook" height="18" class="social-media-links-hover"></a><a class="a2a_button_twitter"><img src="/libraries/bsp_social_media_icons_share/service/twitter.svg" border="0" alt="Twitter" height="18" class="social-media-links-normal"><img src="/libraries/bsp_social_media_icons_share/service/twitter_hover.svg" border="0" alt="Twitter" height="18" class="social-media-links-hover"></a><a class="a2a_button_email"><img src="/libraries/bsp_social_media_icons_share/service/email.svg" border="0" alt="Email" height="18" class="social-media-links-normal"><img src="/libraries/bsp_social_media_icons_share/service/email_hover.svg" border="0" alt="Email" height="18" class="social-media-links-hover"></a><a class="a2a_dd" href="https://www.addtoany.com/share"><img src="/libraries/bsp_social_media_icons_share/service/share_hover.svg" border="0" alt="Share" height="18" class="social-media-links-hover"><img src="/libraries/bsp_social_media_icons_share/service/share.svg" border="0" alt="Share" height="18" class="social-media-links-normal"> Share </a></span> <div class="field field--name-field-tags field--type-entity-reference field--label-inline"> <div class="field--label">Tags</div> <div class="field--items"> <div class="field--item"><a href="/tag/doughnut-economics" hreflang="en">Doughnut Economics</a></div> <div class="field--item"><a href="/tag/economy" hreflang="en">Economy</a></div> </div> </div> <div class="field field--name-field-topic field--type-entity-reference field--label-inline"> <div class="field--label">Topic</div> <div class="field--items"> <div class="field--item"><a href="/topic/doughnut-economics" hreflang="en">Doughnut Economics</a></div> </div> </div> <img width="32" height="32" alt="Business" title="Business" class="img-responsive" src="/files/bsp-images/icons/55.svg" loading="lazy" typeof="foaf:Image" /> <img width="32" height="32" alt="Sustainability" title="Sustainability" class="img-responsive" src="/files/bsp-images/icons/52.svg" loading="lazy" typeof="foaf:Image" /> <img alt="Doughnut Economics – Envisioning how humanity can thrive in the 21st Century" title="Doughnut Economics – Envisioning how humanity can thrive in the 21st Century" class="img-responsive" src="/files/styles/news_full_main_image/public/bsp-images/news/1158.jpg?itok=EORFzgxb" width="687" height="687" loading="lazy" typeof="foaf:Image" /> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-simple paragraph--view-mode--default paragraph--id--3390 paragraph--width--full" style=""> <div class="paragraph__column"> </div> </div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-simple paragraph--view-mode--default paragraph--id--3391 paragraph--width--full" style=""> <div class="paragraph__column"> <p>Doughnut Economics proposes an economic mindset that is fit for our times. It is a way of thinking to bring about the distributive and regenerative dynamics this century calls for.</p> <p>First published in an Oxfam report in 2012 authored by Kate Raworth, the concept of the Doughnut rapidly gained traction globally from the UN General Assembly, the Pope, and the Extinction Rebellion, among others.</p> <blockquote> <p>The entry point of Doughnut Economics is to change the goal from endless GDP growth to thriving within planetary boundaries.</p> </blockquote> <p>At the same time, see the big picture by recognising that the economy is embedded within and dependent upon society and the living world. It calls for turning today’s degenerative economies into regenerative systems and divisive economies into more distributive ones.</p> <p>Finally, the concept reflects that growth may be a healthy phase of life, but nothing grows forever: things that succeed do so by growing until it is time to grow up and thrive instead.</p> <p> </p> </div> </div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-image paragraph--view-mode--default paragraph--id--3392 paragraph--width--full"> <div class="paragraph__column"> <div class="field field--name-bp-image-field field--type-image field--label-hidden field--item"> <img alt="" title="" src="/files/bsp-images/paragraph/1159.png" width="456" height="472" loading="lazy" typeof="foaf:Image" class="img-responsive" /> </div> <div class="field field--name-field-image-title field--type-string field--label-hidden field--item">Doughnut Economics envisions a future where humanity can thrive within planetary boundaries - visual explanation by Doughnut Economics Action Lab </div> </div> </div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-simple paragraph--view-mode--default paragraph--id--3393 paragraph--width--full" style=""> <div class="paragraph__column"> <p>The<a href="https://doughnuteconomics.org/" target="_blank"> Doughnut Economics Action Lab</a> (DEAL), Co-founded by Kate Raworth, aims to help create regenerative and distributive economies by design so that they can meet the needs of all people within the means of the living planet.</p> <p>DEAL works across three levels of transformational change: reframing economic narratives, influencing strategic policy, and innovating with the community. They offer a wide range of open-access tools which anyone can use to turn Doughnut Economics from a radical idea into transformative action.</p> </div> </div> <div class="paragraph paragraph--type--bp-columns-two-uneven paragraph--view-mode--default paragraph--id--3396 paragraph--width--full paragraph--style--75-25"> <div class="paragraph__column"> <div class="paragraph--type--bp-columns-two-uneven__2col-column1"> <div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-simple paragraph--view-mode--default paragraph--id--3394 paragraph--width--full" style=""> <div class="paragraph__column"> <p>Erinch Sahan leads DEAL’s work in bringing Doughnut Economics to the world of business and finance. He says:</p> <blockquote> <p>“Ultimately, it is about designing businesses around the question – how many social and ecological benefits can I generate through this enterprise.”</p> </blockquote> <p>The Doughnut model offers a vision of what it means for humanity to thrive in the 21st century within planetary boundaries in a socially just economy and proposes a mindset and ways to get us there.</p> </div> </div> </div> </div><div class="paragraph--type--bp-columns-two-uneven__2col-column2"> <div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-image paragraph--view-mode--default paragraph--id--3395 paragraph--width--full"> <div class="paragraph__column"> <div class="field field--name-bp-image-field field--type-image field--label-hidden field--item"> <img alt="" title="" src="/files/bsp-images/paragraph/1160.png" width="410" height="410" loading="lazy" typeof="foaf:Image" class="img-responsive" /> </div> <div class="field field--name-field-image-title field--type-string field--label-hidden field--item">Erinch Sahan, Business &amp; Enterprise Lead, Doughnut Economics Action Lab</div> </div> </div> </div> </div> </div> </div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-simple paragraph--view-mode--default paragraph--id--3397 paragraph--width--full" style=""> <div class="paragraph__column"> <p>Putting the ideas of Doughnut Economics into practice means following a number of principles: nurturing human nature, embracing the 21st century goal, seeing the big picture, being regenerative, thinking in systems, being distributed, being strategic in practice, and aiming to thrive rather than to grow.</p> <p>DEAL designed the <a href="https://doughnuteconomics.org/tools/210" target="_blank">Cities &amp; Regions tool</a>, a guide for local and regional governments offering nine pathways to engage with Doughnut Economics.</p> <p>Besides, the <a href="https://doughnuteconomics.org/tools/206" target="_blank">Doughnut Design for Businesses tool</a> helps companies identify the design changes needed and guides them through assessing their current impacts.</p> </div> </div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-simple paragraph--view-mode--default paragraph--id--3398 paragraph--width--full" style=""> <div class="paragraph__column"> <p>The Doughnut model offers a vision of what it means for humanity to thrive in the 21st century within planetary boundaries in a socially just economy and proposes a mindset and ways to get us there.</p> <p>Erinch says:</p> <blockquote> <p>“The business world will need to embrace bold and ambitious solutions that are both regenerative and distributive.</p> </blockquote> <p>To make this possible, a transformation in the deep design of business will be needed: its purpose and networks, how it is governed and owned and the nature of its relationship with finance.”</p> <p>Naturally, there are challenges in adopting this visionary concept.</p> <p>Two main obstacles include the reluctance to embrace the possibilities of designing businesses differently and engaging with the world of finance in a means that can enable this.</p> <p>Central to the Doughnut Design for Business Core Tool is enterprise design. This is explored through five business design layers: a company’s purpose, networks, governance, ownership, and governance.</p> </div> </div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-callout paragraph--view-mode--default paragraph--width--full callout-style--b" id="callout-3400"> <div class="paragraph__column"> <div class="callout-body"> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-simple paragraph--view-mode--default paragraph--id--3399 paragraph--width--full" style=""> <div class="paragraph__column"> <p>According to DEAL, the fundamental question about the existence of a business should change from “How much financial value can we extract from this enterprise?” to “How many benefits can we generate in the way we design this enterprise?”</p> </div> </div> </div> </div> </div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-simple paragraph--view-mode--default paragraph--id--3401 paragraph--width--full" style=""> <div class="paragraph__column"> <p>Speaking on the essential steps to kickstart the journey as a business adopting Doughnut Economics, Erinch says: “Put the biggest ideas possible on the table and ask how your design holds back such ideas and how it can evolve to enable such ideas.”</p> <p>An integral part of the Doughnut Design for Business Tool model is looking beyond obsessively growing profits.</p> </div> </div> <div class="paragraph paragraph--type--bp-columns-three-uneven paragraph--view-mode--default paragraph--id--3405 paragraph--width--full paragraph--style--50-25-25"> <div class="paragraph__column"> <div class="paragraph--type--bp-columns-three-uneven__3col-column1"> <div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-simple paragraph--view-mode--default paragraph--id--3402 paragraph--width--full" style=""> <div class="paragraph__column"> <blockquote> <p>Constant financial growth is drilled into the business agenda, so convincing business leaders to measure success in benefits and values instead of margins and profits to create regenerative and distributive models is more than challenging.</p> </blockquote> </div> </div> </div> </div><div class="paragraph--type--bp-columns-three-uneven__3col-column2"> <div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-image paragraph--view-mode--default paragraph--id--3403 paragraph--width--full"> <div class="paragraph__column"> <div class="field field--name-bp-image-field field--type-image field--label-hidden field--item"> <img alt="" title="" src="/files/bsp-images/paragraph/1161.png" width="324" height="434" loading="lazy" typeof="foaf:Image" class="img-responsive" /> </div> </div> </div> </div> </div><div class="paragraph--type--bp-columns-three-uneven__3col-column3"> <div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-image paragraph--view-mode--default paragraph--id--3404 paragraph--width--full"> <div class="paragraph__column"> <div class="field field--name-bp-image-field field--type-image field--label-hidden field--item"> <img alt="" title="" src="/files/bsp-images/paragraph/1163.png" width="624" height="704" loading="lazy" typeof="foaf:Image" class="img-responsive" /> </div> </div> </div> </div> </div> </div> </div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-simple paragraph--view-mode--default paragraph--id--3406 paragraph--width--full" style=""> <div class="paragraph__column"> <p>“It is about looking at the inevitable future economy we must create and embracing the transformation journey to belong to that journey. There will be no profits on the planet and in societies that we destroyed. So, let’s create a thriving society on a healthy planet and businesses that serve that purpose.”</p> <p>There is also significant urgency for us to act on the climate crisis and meet sustainability goals.</p> <p>“We do not have time to waste by pretending that the old structures and systems will be enough to help humanity into the Doughnut.</p> <blockquote> <p>We need to embrace the transformations that are needed as quickly as possible. I think denying or avoiding the discomfort of that transformation is what we do not have enough time for,”</p> </blockquote> <p>DEAL has built up a vibrant community of pioneering changemakers worldwide who demonstrate that this is doable.</p> <p> </p> <p class="text-align-right"><span style="font-size:9px">Headline image: Elena Koycheva, unsplash</span></p> </div> </div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-simple paragraph--view-mode--default paragraph--id--3407 paragraph--width--full" style=""> <div class="paragraph__column"> <hr /><p class="text-align-right"> </p> </div> </div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-callout paragraph--view-mode--default paragraph--width--full callout-style--b" id="callout-3472"> <div class="paragraph__column"> <div class="callout-body"> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-simple paragraph--view-mode--default paragraph--id--3471 paragraph--width--full" style=""> <div class="paragraph__column"> <p>This article is an extract from content originally published in the <a href="https://business-spirit.news/shop/circular-economy-in-action" target="_blank">Circular Economy in Action</a> special edition of the <a href="https://business-spirit.news/profit-with-purpose-magazine" target="_blank">Profit with Purpose Magazine</a> - you can read the full article and other features in the magazine.</p> </div> </div> </div> </div> </div> <div class="field field--name-field-background-style field--type-list-string field--label-above"> <div class="field--label">Background style</div> <div class="field--item">Light</div> </div> <div class="field field--name-field-sponsored field--type-boolean field--label-above"> <div class="field--label">Sponsored?</div> <div class="field--item">No</div> </div> <div class="field field--name-created field--type-created field--label-hidden field--item">June 2023</div> <div class="field field--name-field-collaborative-content-with field--type-entity-reference field--label-inline"> <div class="field--label">Collaborative content with</div> <div class="field--item"> <a href="/partner/profit-with-purpose-magazine">Profit with Purpose Magazine</a> </div> </div> Thu, 01 Jun 2023 12:45:19 +0000 Bronagh Loughlin 259 at https://climatejournal.news https://climatejournal.news/news/degradation-of-nature-is-linked-to-economic-damage-and-increased-risk-of-pandemics <div class="field field--name-title field--type-string field--label-hidden field--item"><span>Degradation of nature is linked to economic damage and increased risk of pandemics</span> </div> <span class="a2a_kit a2a_kit_size_32 addtoany_list" data-a2a-url="https://climatejournal.news/news/degradation-of-nature-is-linked-to-economic-damage-and-increased-risk-of-pandemics" data-a2a-title="Degradation of nature is linked to economic damage and increased risk of pandemics"><a class="a2a_button_linkedin"><img src="/libraries/bsp_social_media_icons_share/service/linkedin.svg" border="0" alt="LinkedIn" height="18" class="social-media-links-normal"><img src="/libraries/bsp_social_media_icons_share/service/linkedin_hover.svg" border="0" alt="LinkedIn" height="18" class="social-media-links-hover"></a><a class="a2a_button_facebook"><img src="/libraries/bsp_social_media_icons_share/service/facebook.svg" border="0" alt="Facebook" height="18" class="social-media-links-normal"><img src="/libraries/bsp_social_media_icons_share/service/facebook_hover.svg" border="0" alt="Facebook" height="18" class="social-media-links-hover"></a><a class="a2a_button_twitter"><img src="/libraries/bsp_social_media_icons_share/service/twitter.svg" border="0" alt="Twitter" height="18" class="social-media-links-normal"><img src="/libraries/bsp_social_media_icons_share/service/twitter_hover.svg" border="0" alt="Twitter" height="18" class="social-media-links-hover"></a><a class="a2a_button_email"><img src="/libraries/bsp_social_media_icons_share/service/email.svg" border="0" alt="Email" height="18" class="social-media-links-normal"><img src="/libraries/bsp_social_media_icons_share/service/email_hover.svg" border="0" alt="Email" height="18" class="social-media-links-hover"></a><a class="a2a_dd" href="https://www.addtoany.com/share"><img src="/libraries/bsp_social_media_icons_share/service/share_hover.svg" border="0" alt="Share" height="18" class="social-media-links-hover"><img src="/libraries/bsp_social_media_icons_share/service/share.svg" border="0" alt="Share" height="18" class="social-media-links-normal"> Share </a></span> <div class="field field--name-field-tags field--type-entity-reference field--label-inline"> <div class="field--label">Tags</div> <div class="field--items"> <div class="field--item"><a href="/tag/biodiversity" hreflang="en">Biodiversity</a></div> <div class="field--item"><a href="/tag/covid19" hreflang="en">Covid19</a></div> <div class="field--item"><a href="/tag/report" hreflang="en">Report</a></div> <div class="field--item"><a href="/tag/economy" hreflang="en">Economy</a></div> </div> </div> <div class="field field--name-field-topic field--type-entity-reference field--label-inline"> <div class="field--label">Topic</div> <div class="field--items"> <div class="field--item"><a href="/topic/covid19" hreflang="en">Covid19</a></div> <div class="field--item"><a href="/topic/report" hreflang="en">Report</a></div> <div class="field--item"><a href="/topic/nature" hreflang="en">Nature</a></div> </div> </div> <img width="32" height="32" alt="Business" title="Business" class="img-responsive" src="/files/bsp-images/icons/55.svg" loading="lazy" typeof="foaf:Image" /> <img width="32" height="32" alt="Research" title="Research" class="img-responsive" src="/files/bsp-images/icons/243.svg" loading="lazy" typeof="foaf:Image" /> <img alt="Degradation of nature is linked to economic damage and increased risk of pandemics" title="Degradation of nature is linked to economic damage and increased risk of pandemics" class="img-responsive" src="/files/styles/news_full_main_image/public/bsp-images/news/537.jpg?itok=MJ7LMaab" width="687" height="687" loading="lazy" typeof="foaf:Image" /> <div class="field field--name-field-lead field--type-string field--label-hidden field--item">Escaping the era of pandemics is possible, but will require a seismic shift in approach from reaction to prevention</div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-simple paragraph--view-mode--default paragraph--id--1654 paragraph--width--full" style=""> <div class="paragraph__column"> </div> </div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-simple paragraph--view-mode--default paragraph--id--1655 paragraph--width--full" style=""> <div class="paragraph__column"> <p>Future pandemics will emerge more often, spread more rapidly, do more damage to the world economy and kill more people than COVID-19 unless there is a transformative change in the global approach to dealing with infectious diseases, warns a major new report on biodiversity and pandemics by 22 leading experts from around the world.</p> </div> </div> <div class="paragraph paragraph--type--bp-columns-two-uneven paragraph--view-mode--default paragraph--id--1658 paragraph--width--full paragraph--style--25-75"> <div class="paragraph__column"> <div class="paragraph--type--bp-columns-two-uneven__2col-column1"> <div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-image paragraph--view-mode--default paragraph--id--1656 paragraph--width--full"> <div class="paragraph__column"> <div class="field field--name-bp-image-field field--type-image field--label-hidden field--item"> <img alt="" title="" src="/files/bsp-images/paragraph/538.jpg" width="496" height="702" loading="lazy" typeof="foaf:Image" class="img-responsive" /> </div> <div class="field field--name-field-image-title field--type-string field--label-hidden field--item">IPBES virtual workshop report about the links between degradation of nature and increasing pandemic risks</div> </div> </div> </div> </div><div class="paragraph--type--bp-columns-two-uneven__2col-column2"> <div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-simple paragraph--view-mode--default paragraph--id--1657 paragraph--width--full" style=""> <div class="paragraph__column"> <p>Convened by the <a href="https://www.ipbes.net/" target="_blank">Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES)</a> for an urgent virtual workshop about the links between degradation of nature and increasing pandemic risks, the experts agree that escaping the era of pandemics is possible, but that this will require a seismic shift in approach from reaction to prevention.</p> <p>COVID-19 is at least the sixth global health pandemic since the Great Influenza Pandemic of 1918, and although it has its origins in microbes carried by animals, like all pandemics its emergence has been entirely driven by human activities, says the recently released report.</p> <p>It is estimated that another 1.7 million currently ‘undiscovered’ viruses exist in mammals and birds – of which up to 827,000 could have the ability to infect people.</p> </div> </div> </div> </div> </div> </div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-simple paragraph--view-mode--default paragraph--id--1659 paragraph--width--full" style=""> <div class="paragraph__column"> <p>“There is no great mystery about the cause of the COVID-19 pandemic – or of any modern pandemic”, said Dr. Peter Daszak, President of EcoHealth Alliance and Chair of the IPBES workshop.</p> <blockquote> <p>“The same human activities that drive climate change and biodiversity loss also drive pandemic risk through their impacts on our environment.</p> </blockquote> <p>Changes in the way we use land; the expansion and intensification of agriculture; and unsustainable trade, production and consumption disrupt nature and increase contact between wildlife, livestock, pathogens and people. This is the path to pandemics.”</p> </div> </div> <div class="paragraph paragraph--type--bp-columns-two-uneven paragraph--view-mode--default paragraph--id--1662 paragraph--width--full paragraph--style--42-58"> <div class="paragraph__column"> <div class="paragraph--type--bp-columns-two-uneven__2col-column1"> <div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-simple paragraph--view-mode--default paragraph--id--1660 paragraph--width--full" style=""> <div class="paragraph__column"> <p>Pandemic risk can be significantly lowered by reducing the human activities that drive the loss of biodiversity, by more significant conservation of protected areas, and through measures that reduce unsustainable exploitation of high biodiversity regions.</p> <p>This will reduce wildlife-livestock-human contact and help prevent the spillover of new diseases, says the report.</p> </div> </div> </div> </div><div class="paragraph--type--bp-columns-two-uneven__2col-column2"> <div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-image paragraph--view-mode--default paragraph--id--1661 paragraph--width--full"> <div class="paragraph__column"> <div class="field field--name-bp-image-field field--type-image field--label-hidden field--item"> <img alt="" title="" src="/files/bsp-images/paragraph/539.png" width="720" height="390" loading="lazy" typeof="foaf:Image" class="img-responsive" /> </div> <div class="field field--name-field-image-title field--type-string field--label-hidden field--item">IPBES Pandemic Report results</div> </div> </div> </div> </div> </div> </div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-simple paragraph--view-mode--default paragraph--id--1663 paragraph--width--full" style=""> <div class="paragraph__column"> <p>“The overwhelming scientific evidence points to a very positive conclusion.</p> <p>We have the increasing ability to prevent pandemics – but the way we are tackling them right now largely ignores that ability. Our approach has effectively stagnated – we still rely on attempts to contain and control diseases after they emerge, through vaccines and therapeutics.</p> <blockquote> <p>We can escape the era of pandemics, but this requires a much greater focus on prevention in addition to reaction.”</p> </blockquote> <p>said Dr. Daszak.</p> <p>Pointing to the likely cost of COVID-19 of $8-16 trillion globally by July 2020, it is further estimated that costs in the United States alone may reach as high as $16 trillion by the 4th quarter of 2021.</p> </div> </div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-callout paragraph--view-mode--default paragraph--width--full callout-style--b" id="callout-1665"> <div class="paragraph__column"> <div class="callout-body"> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-simple paragraph--view-mode--default paragraph--id--1664 paragraph--width--full" style=""> <div class="paragraph__column"> <p>The experts estimate the cost of reducing risks to prevent pandemics to be 100 times less than the cost of responding to such pandemics, “providing strong economic incentives for transformative change.”</p> </div> </div> </div> </div> </div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-simple paragraph--view-mode--default paragraph--id--1669 paragraph--width--full" style=""> <div class="paragraph__column"> <p>Some of the recommendations suggested in the report:</p> <ul><li>Enabling changes to reduce the types of consumption, globalized agricultural expansion and trade that have led to pandemics – this could include taxes or levies on meat consumption, livestock production and other forms of high pandemic-risk activities.</li> </ul> </div> </div> <div class="paragraph paragraph--type--bp-columns-two-uneven paragraph--view-mode--default paragraph--id--1668 paragraph--width--full paragraph--style--66-33"> <div class="paragraph__column"> <div class="paragraph--type--bp-columns-two-uneven__2col-column1"> <div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-simple paragraph--view-mode--default paragraph--id--1666 paragraph--width--full" style=""> <div class="paragraph__column"> <ul><li>Reducing zoonotic disease risks in the international wildlife trade through a new intergovernmental ‘health and trade’ partnership; reducing or removing high disease-risk species in the wildlife trade; enhancing law enforcement in all aspects of the illegal wildlife trade and improving community education in disease hotspots about the health risks of wildlife trade.</li> </ul> </div> </div> </div> </div><div class="paragraph--type--bp-columns-two-uneven__2col-column2"> <div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-image paragraph--view-mode--default paragraph--id--1667 paragraph--width--full"> <div class="paragraph__column"> <div class="field field--name-bp-image-field field--type-image field--label-hidden field--item"> <img alt="" title="" src="/files/bsp-images/paragraph/540.png" width="720" height="405" loading="lazy" typeof="foaf:Image" class="img-responsive" /> </div> <div class="field field--name-field-image-title field--type-string field--label-hidden field--item">IPBES Pandemic Report result</div> </div> </div> </div> </div> </div> </div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-simple paragraph--view-mode--default paragraph--id--1670 paragraph--width--full" style=""> <div class="paragraph__column"> <ul><li>Valuing Indigenous Peoples and local communities’ engagement and knowledge in pandemic prevention programs, achieving greater food security and reducing consumption of wildlife.</li> <li>Closing critical knowledge gaps such as those about key risk behaviours, the relative importance of illegal, unregulated, and the legal and regulated wildlife trade in disease risk, and improving understanding of the relationship between ecosystem degradation and restoration, landscape structure and the risk of disease emergence.</li> </ul> </div> </div> <div class="paragraph paragraph--type--bp-columns-two-uneven paragraph--view-mode--default paragraph--id--1673 paragraph--width--full paragraph--style--42-58"> <div class="paragraph__column"> <div class="paragraph--type--bp-columns-two-uneven__2col-column1"> <div> <div class="classy-style--margin-bottom paragraph paragraph--type--video paragraph--view-mode--default paragraph--id--1671"> <div class="paragraph__column"> <div class="video-embed-field-provider-youtube video-embed-field-responsive-video form-group"><iframe width="854" height="480" frameborder="0" allowfullscreen="allowfullscreen" src="https://www.youtube.com/embed/L9o0VuEyGBs?autoplay=0&amp;start=0&amp;rel=0"></iframe> </div> </div> </div> </div> </div><div class="paragraph--type--bp-columns-two-uneven__2col-column2"> <div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-simple paragraph--view-mode--default paragraph--id--1672 paragraph--width--full" style=""> <div class="paragraph__column"> <p>The <a href="https://www.ipbes.net/pandemics-report-complete-digital-version" target="_blank">IPBES workshop report</a> is one of the most scientifically robust examinations of the evidence and knowledge about links between pandemic risk and nature since the COVID pandemic began – with contributions from leading experts in fields as diverse as epidemiology, zoology, public health, disease ecology, comparative pathology, veterinary medicine, pharmacology, wildlife health, mathematical modelling, economics, law and public policy.</p> </div> </div> </div> </div> </div> </div> <div class="classy-style--margin-bottom paragraph paragraph--type--bp-simple paragraph--view-mode--default paragraph--id--1674 paragraph--width--full" style=""> <div class="paragraph__column"> <p>The report is also strongly scientifically substantiated, with almost than 700 cited sources – more than 200 of which are from 2020 and 2019 – which offers decision-makers a valuable analytical snap-shot of the most up-to-date data currently available.</p> <p>IPBES is an independent intergovernmental body comprising more than 130 member Governments. Established by Governments in 2012, it provides policymakers with objective scientific assessments about the state of knowledge regarding the planet’s biodiversity, ecosystems and the contributions they make to people, as well as the tools and methods to protect and sustainably use these vital natural assets.</p> </div> </div> <div>Footer</div> Report <div class="field field--name-field-background-style field--type-list-string field--label-above"> <div class="field--label">Background style</div> <div class="field--item">Light</div> </div> <div class="field field--name-field-sponsored field--type-boolean field--label-above"> <div class="field--label">Sponsored?</div> <div class="field--item">No</div> </div> <div class="field field--name-created field--type-created field--label-hidden field--item">December 2020</div> Mon, 07 Dec 2020 13:10:49 +0000 Anonymous 121 at https://climatejournal.news