Businesses with agricultural supply chains depend on and impact biodiversity, and there is growing momentum to better assess and manage these relationships with nature. However, the business community facies challenges in measuring their biodiversity performance and keeping track of the rapidly evolving landscape of biodiversity measurement approaches for business. This new report co-written by GCRF TRADE Hub and the EU B@B Platform assess the challenges and potential solutions for measuring and disclosing biodiversity impacts and dependencies of companies with agricultural supply chains.
The overall perception of companies is that measuring biodiversity impact is complex and raises many questions including: how to measure, where to start, when to combine different approaches and metrics, how to aggregate results, and how results can inform action. The study highlights six main challenges faced by companies attempting to measure their relationship with biodiversity:
- Lack of capacity and understanding to implement existing measurement approaches
- Lack of approaches to measure impacts directly and heavy reliance on proxies
- Lack of evidence of application
- Lack of access to biodiversity data by business
- Few measurement approaches to track targets
- Difficulty interpreting and aggregating results.
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