Accelerating nature action in Latin America - Biodiversity Talks 2024
For the second year in a row, the Biodiversity Talks series brought together Latin American companies to help accelerate corporate action on nature throughout the continent. The 2024 edition was led by Business for Nature and the UN Global Compact Mexico, in partnership with the Business for Nature LATAM Partner Group, a coalition of 13 organizations from eight countries: Argentina, Brazil, Chile, Colombia, Guatemala, Ecuador, Mexico, and Peru. Over 750 companies across 16 countries took part in the series overall.
The series consisted of four webinars structured around the steps of the ACT-D framework - Assess, Commit, Transform and Disclose - to provide a comprehensive guide to participants on integrating nature into their corporate strategies. Topics ranged from identifying nature-related dependencies, impacts, risks and opportunities, to setting goals, taking transformative action and reporting on progress.
The sessions featured presentations by experts in various methodologies and standards, as well as representatives of companies that have made progress in integrating nature into their business models. With a focus on sharing best practice and providing actionable insights, each webinar provided a platform to exchange key learnings and reflections on the challenges and opportunities that companies face on this journey.
To help build similar momentum in other regions, Business for Nature and their partners are hosting webinars for companies in Asia (17 March, 3pm SGT) and Africa (26 March, 2pm WAT).
If you missed any of the Latin America talks, you can access overviews and recordings below.
In addition, you can explore the case studies of two leading companies in the region that have implemented the ACT-D framework in their operations.
For further support on the next steps of your organization’s nature journey, write to contact@businessfornature.org.
Talk 1: EVALUATE - Action for Nature: Assessing the private sector’s dependencies and impacts on nature
Assessing impacts and dependencies on nature is the first step towards understanding how a company relates to its natural environment, and a crucial prerequisite to addressing its nature-related risks and opportunities. The session explored the different tools available to measure impacts and dependencies, as well as examples from two companies on their approaches to water, biodiversity and soil. Later, the Chilean company CMPC shared insights into its nature strategy and how it is adapting it to emerging methodologies and global standards. CMPC shared its methodology to assess nature-related impacts, including using their size and severity to prioritize actions.
“We started our strategy two years ago and while it is not necessarily aligned with all the new methodologies, we thought it important to seize the momentum around nature action. In particular, we wanted to share how we are aligning existing work with new assessment and reporting tools, using the same language and standards as other companies”
Talk 2: COMMIT – Science-Based Goal Setting for SBTN Nature
To reduce negative impacts on nature in a robust and science-based way, setting clear targets is essential. In this webinar, two experts from the Science Based Targets for Nature Network (SBTN) explained the first three steps of the SBTN methodology and shared lessons learned from a pilot project with 17 companies. Best practices and resources available on the SBTN website were also presented. To learn more about SBTN in Latin America, reach out to: Diana Herrera Orozco or Emilio García.
“SBTN methodologies help companies define what, where, and how much they need to do to transform their impacts from unsustainable to sustainable and equitable. Unlike climate targets, SBTN methodologies are tailored to the specific needs of each location and context”
Talk 3: TRANSFORM - How to integrate nature into your business model and corporate strategy
Transforming business models is fundamental to achieving real change and move towards a positive economy for nature. In this session, Chilean company Arauco shared its nature strategy, which it published as part of the global ‘It’s Now for Nature’ campaign - detailing its evolution, tangible benefits and recommendations for companies in the initial stages. Likewise, Toroto, a Mexican company, presented a concrete case of how positive impacts on ecosystems can be achieved through taking science-based measures and collaborating with local communities.
“Our long-term success is linked to the health of the ecosystems in which we operate. If we conserve nature, we maintain productivity, mitigate operational risks and improve our reputation in global markets. Of course there is an ethical imperative, but there is also a clear feedback loop for the sustainability of the business”
Talk 4: DISSEMINATE – Reporting and dissemination of information. COP16 results
With rising expectations around corporate nature-related disclosure, it is becoming increasingly important for companies to understand and embrace reporting standards. The talk featured a presentation by Andrea Pradilla, GRI LATAM Director, on the update to the GRI-101 thematic biodiversity standard, and on efforts made in Latin America to promote its adoption and increase preparedness in the region. KPMG Colombia and South Pole LATAM also shared their perceptions of the results of COP16 - including their reflections on an unprecedented private sector participation and their outlook for the business sector on this agenda.
“According to a study by GRI, Nuam and PwC in Colombia, Peru and Chile, 88% of the companies analyzed mention biodiversity in their reports. However, only 1% reach an advanced level of maturity in terms of their strategy on nature”
