Measuring corporate biodiversity impact and performance – Align recommendations open for consultation
Globalbalance is a partner in the Align Project which is working to align accounting approaches for nature. Alongside UNEP-WCMC, the Capitals Coalition, ICF and Arcadis, we have developed a set of recommendations for a standard on biodiversity measurement and valuation for business, is funded by the European Commission and is run by the EU Business @ Biodiversity Platform. This is set against a landscape of complex metrics, tools and frameworks to measure impacts and dependencies on nature, with an urgent need identified to provide an agreed set of principles and technical criteria setting out ‘what’ elements of biodiversity should be measured and valued and ‘how’ this should be done in different decision-making contexts.
The recommendations are the result of months of engagement with technical experts, businesses, environmental groups and groups such as TNFD, CSRD, SBTN, GRI and PBAF. Globalbalance director Annelisa Grigg was part of the core team drafting the recommendations, with a particular focus on biodiversity accounting.
This work is a fundamentally important step towards allowing organisations to evaluate and monitor their biodiversity impact and performance, allowing greater transparency between organisations and sectors and greater accountability for biodiversity impacts. If you are part of an organisation looking to begin or improve reporting on biodiversity, you can click here to visit the project website and register to provide feedback on Align’s recommendations.