On 5 November 2024, industry leaders and experts convened in a webinar to discuss insights from the biodiversity Conference of the Parties (COP16), held in Colombia, and how the outcomes impact board decision-making. With perspectives from board directors who are integrating nature into business strategy, the session provided practical guidance for directors on embedding nature as a core boardroom priority. The discussion also previewed priorities for the upcoming COP29 in Azerbaijan.
Read more and watch the webinar here: https://hub.climate-governance.org/article/key-outcomes-nature-cop16
Every board should have nature on its agenda. Every board should find a way to make this relevant to their business. There is a connection to every business. They are not opposite sides of the coin, it is a continuum. – Sheila Murray, Chair, Teck Resources
Key takeaways for board directors
Nature is a boardroom imperative, as nature resilience underpins business resilience. Future cash flows may depend on the sustained provision of ecosystem services.
Nature dependencies and impacts are inherent in all business operations, and boards need to recognise these connections proactively. Simple questions like “how is our business dependent on nature?” can kickstart critical discussions.
There is a growing shift from nature awareness to active implementation, covering both risk management and new opportunities. Board directors need to approach nature with the same strategic rigour applied to climate risks.
“Nature-positive” commitments can align with shareholder duties and provide a competitive edge through enhanced reputation and social license.
Unlike climate, nature metrics are more complex and less universal, often requiring creative, localised approaches.
