Run Time 33:21: This Week on Greenbiz 350 Podcast This week’s episode of the Greenbiz 350 podcast is all about the risks of biodiversity loss. Co-hosts Joel Makower, co-founder and chairman of Greenbiz, and Heather Clancy, editorial director, open the show by discussing the featured interviews and the news of the day. They then move on to the main topic of the episode—the risks of biodiversity loss and how businesses should incorporate this into their own scenario planning.
The Risks of Biodiversity Loss As the human population continues to increase, so does our impact on nature. We build homes and roads, cut down trees, and pollute the air and water—all activities that have an effect on the earth’s biodiversity. The negative effects are real and include loss of species, climate change, and disruption of the ecosystems that sustain us. It is a problem that needs to be addressed in order to ensure the health and wellness of the planet.
As a result, S&P Global Sustainable1 has created the Biodiversity Risk Data Set to help companies understand their risk exposure to changes in biodiversity, such as deforestation or species extinction. This data set can be used for scenario planning and risk management. Richard Mattison, president of S&P Global Sustainable and CEO of S&P Global Trucost, joins the podcast to discuss the Biodiversity Risk Data Set and how businesses can use it to make more informed decisions. He explains that the dataset is a tool that companies can use to understand their operational risk exposure to changes in biodiversity, from direct impacts on their supply chain or operations, to tangible risks to their finances.
How Can Companies Incorporate Biodiversity Risk Into Scenario Planning? When it comes to incorporating biodiversity risk into scenario planning, Mattison recommends that companies gather information from multiple sources, such as suppliers, NGOs, and research organizations, to gain an understanding of their potential impacts and exposures to environmental and social risks. He emphasizes the importance of engaging stakeholders in the process, including NGO partners and experts, in order to gain a better understanding of the risks. Additionally, he recommends that businesses work with the right data and analytics tools in order to identify risk and assess financial exposure.
Conclusion Biodiversity loss is an issue that companies cannot ignore. With new tools like S&P Global Sustainable’s Biodiversity Risk Data Set, businesses now have the resources they need to better understand their risk exposure to changes in biodiversity and incorporate those risks into their scenario planning. With the right knowledge and tools, businesses can take action to protect the planet and its biodiversity for future generations.