CHRONOS PODCAST HIGHLIGHTS NEED TO INTEGRATE NATURE INTO CLIMATE TRANSITION PLANS
CHRONOS PODCAST HIGHLIGHTS NEED TO INTEGRATE NATURE INTO CLIMATE TRANSITION PLANS
Over 6,000 companies and rising have a climate transition plan, but very few are integrating nature and biodiversity into those forward-looking business plans, even though nature and climate action are closely interwoven.
With COP16 on biodiversity underway and the climate COP29 due to start next month, the latest episode of our Chronos Talks podcast sees our MD Nicky Amos and Head of Nature & Biodiversity Gemma James discuss whether it’s time to end siloed thinking and bring the nature and climate policy processes together.
Discussion highlights
Nicky and Gemma look at what is meant by transition planning and argue that a tipping point has been reached on climate planning with almost 6,000 companies now having a climate transition plan aligned with 1.5C, and a further 8,000 companies planning to create one in 2025 according to CDP.
The team then talk about why companies should consider nature as part of these plans, with Gemma arguing that given how much decarbonisation activities can impact nature, and vice versa, one cannot be done effectively without the other. Gemma also gives examples of good practice from companies like Nestlé and Danone who have integrated nature considerations into their transition planning including use of a regenerative agriculture programme, forest strategy and Natural Capital Solutions.
The team also provide some useful resources for corporate sustainability teams taking their first steps in this area including:
· An advisory paper from the Nature Working Group of the Transition Planning Taskforce.
· WWF Nature in Transition Plans report
· Guidance from the Task Force on Nature-related Financial Disclosures on nature transition plans*
One COP or two?
With COP16 underway in Colombia as the podcast is published and the climate COP29 due to start next month, Nicky and Gemma also discuss whether we should be looking to end siloed thinking and bring the nature and climate policy processes together.
The answer to this is yes and no. There is a need for more integration of climate and nature, but also a strong argument for keeping them separate – at least for now – given that nature is still a nascent issue, and given that policy makers and professionals still need space to evolve the right frameworks and strategies.
Finally, the team discuss the role of regulation such as CSRD in elevating sustainability from a voluntary or marketing-driven activity to a core, professional part of business strategy and operations in the companies that Chronos works with.
Listen now to Chronos Talks, available on all major platforms including Spotify or click on the embedded link below.
* Released after the podcast was recorded.