The 2024 Nature Finance & Biodiversity Credits Report, by World Economic Forum and McKinsey, a must-read for board members and business leaders. This comprehensive framework guides companies toward nature-positive actions, integrating sustainability with business growth.
Here’s how it works, using a telecom company as an example:
1️⃣ Develop a Nature Strategy: TelecomCo, a global telecom provider, used the ACT-D framework (Assess, Commit, Transform, Disclose) to assess its environmental footprint. They recognized their land use for infrastructure, such as towers and fiber networks, and committed to restoring these areas, aligning with the Kunming-Montreal Global Biodiversity Framework.
2️⃣ Build a Nature Finance Action Plan: TelecomCo translated their strategy into actionable steps:
– Define Actions: They prioritized restoring land around their network infrastructure and improving biodiversity in these areas.
– Identify Metrics: TelecomCo used measurable goals, such as reducing land-use impact and increasing biodiversity in restored zones.
– Procure High-Integrity Biodiversity Credits: To offset residual impacts, they invested in biodiversity credits, supporting reforestation projects along their fiber-optic routes.
– Manage Communication: TelecomCo committed to transparency, reporting their progress to stakeholders through sustainability reports and public communication campaigns.
3️⃣ Integrate into Corporate Strategy: TelecomCo embedded these actions into their broader business strategy, enhancing both their environmental impact and brand reputation. This approach attracted eco-conscious customers and investors, showcasing TelecomCo as a leader in sustainability.
By following this framework, TelecomCo reduced their footprint, contributed to biodiversity, and unlocked new market opportunities.
Explore how this framework A Private Sector Roadmap to Finance and Act on Nature can drive both sustainability and business success for your company.
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Webinars, Peer Exchanges and Events
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November 12 at 12-13.30 PM CET (new date), “Boards role in Embedding Sustainability and SDGs: How to Drive Organizational Transformation,” hosted by Boards Impact Forum in collaboration with the Scandinavian Executive Institute. Tailored for board directors, this session focuses on integrating sustainability into all aspects of operations to boost performance and long-term success. Renowned Non-Executive Board Director, Former Sustainbility Director at IKEA Pia Heidenmark Cook will present insights from her book, drawing on her experience at IKEA, as well as NED, to offer practical tools and strategies for overcoming challenges in sustainability. She will be joined by a panel of NEDs including Julie Baddley, NED at commercial companies as well as Chair of the Climate Governance Initiative and Lars Husberg, Chair at several Family Business.
November 28 at 13.00-14.30 PM CET “Strategic Governance in a Disrupted World” delving into key findings from a joint research study, conducted by INSEAD Corporate Governance Centre, BCG, and Heidrick & Struggles and discussed in a panel with trailblazing board directors. Research study presented by Alice Breeden, Heidrick and Struggles and Ron Soonieus, BCG & INSEAD. Panel with Susanna Campbell, Chair at Syre and NOD, Board Director at Stegra, Northvolt, Kinnevik, Indutrade, Estrid, Johan Raslan, independent board director at Sime Darby Property Berhad, Institute of Corporate Directors Malaysia, the Malaysian Securities Commission, Climate Governance Malaysia and Dr Patricia Rodrigues Jenner is Non-Executive Director, Porfolio NED. Comments by Sonia Tatar INSEAD and facilitated by Liselottte Engstam: Chair of the Boards Impact Forum,
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About Boards Impact Forum and the blogpost
Boards Impact Forum is the Nordic chapter of the Climate Governance Initiative from the World Economic Forum.
This blogpost is authored by Chair Boards Impact Forum, Board Member at Climate Governance Initative, Chair and Ned at Listed and Private Companies Liselotte Engstam. Illustrations by Unsplash+
Events arranged by Boards Impact Forum in collaboration with World Economic Forum (Non Profit Board Network, partnering with Board Networks , INSEAD Corporate Governance Centre, Digoshen and Next Agents )
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