Taking Action on Nature: Practical Insights from Asian Businesses
Earlier this month, Business for Nature and the World Business Council for Sustainable Development (WBCSD) co-hosted a dynamic webinar, Taking Action on Nature: Practical Insights from Asian Businesses. It brought together industry experts to explore how businesses in Asia are addressing the nature crisis and integrating nature into their business operations. With over 250 participants, the discussion focused on how companies are aligning with the high-level business action, i.e. ACT-D (Assess, Commit, Transform, Disclose), to accelerate their nature journey. Corporate leaders from olam food ingredients (ofi), TCC Group Holdings and the Mahindra Group shared their insights, including challenges and tangible strategies for integrating nature into business decisions, underscoring both the urgency and opportunity of taking action on nature.
Watch the full webinar recording
Understanding the business case for nature action
Our CEO, Eva Zabey, set the stage by emphasizing the economic dependence of businesses on nature, the growing momentum around nature action and the risks businesses face if they fail to act now.
“We are at a tipping point. Businesses are extracting resources 1.75 times faster than nature can replenish them…..But there’s also an opportunity—nature-positive business models in Asia Pacific alone could generate $4.3 trillion annually and create 230 million jobs by 2030.” Eva Zabey, CEO, Business for Nature
Meanwhile, Michael Ofosuhene-Wise, our Senior Manager – Business Action introduced the ACT-D framework (Assess, Commit, Transform, Disclose) as key steps businesses can take to accelerate nature action and highlighted key resources (such as the sector guides and the nature strategy handbook) to support businesses in their nature journey.
Drivers of nature action in Asia
To gauge corporate readiness, Martina Beshparova, Consultant, Nature Capital and Nature, McKinsey shared a revealing analysis of Fortune 500 companies' nature-related commitments. The findings were clear: European companies are leading the way, driven by policies like Corporate Sustainability Reporting Directive and the Nature Restoration Law. Despite being home to many critical biodiversity hotspots, Asian companies are still lagging behind. Although companies in Asia are making progress and awareness on nature is growing, nature commitments in the region are often carbon-focused, highlighting the need for a more holistic approach to addressing nature loss and restoration.
Echoing this, Pallavi Kalita, Asia Lead at Business for Nature, shared key insights from a survey of 77 companies across Asia. The survey identified new market opportunities, investor and consumer demands, and regulatory compliance as the top drivers of corporate nature action. However, it also highlighted key barriers slowing progress, including data limitations, challenges in investment feasibility, difficulties in conducting materiality assessments, and a lack of senior leadership buy-in for nature-related initiatives.
From commitment to action: insights from leading businesses in Asia
The discussion, moderated by Angela Graham Brown (Director, Nature Action, WBCSD), followed the ACT-D approach, providing tangible examples of how businesses are assessing their impacts and dependencies, setting ambitious targets and implementing transformative solutions to advance their nature journey.
Ria Bakshi, Global Head of Sustainability, Accountability, Reporting and Impact, olam food ingredients (ofi) emphasized that nature and biodiversity are fundamental to sustainable agriculture, making nature action a business imperative rather than just a responsibility. As a global food and ingredients company, ofi depends on natural ecosystems and smallholder farmers to ensure supply chain resilience. Guided by its sustainability strategy– “Choices for Change”- ofi leverages data-driven assessments to identify, prioritize and act on key risks, using tools like Global Forest Watch Pro for deforestation monitoring, WWF’s Aqueduct for water risk mapping, and IBAT for biodiversity hotspot assessment. She highlighted that while external tools provide valuable insights, on-the-ground knowledge from farmers is crucial to understanding real impacts. ofi is also advancing natural capital accounting to quantify ecosystem services in financial terms, helping the company make more informed decisions. Despite the complexity of nature-related assessments, Ria stressed the importance of starting small, focusing on high-risk areas and refining strategies over time to drive meaningful impact.
"Nature isn’t just an environmental responsibility—it’s a business imperative for us " – Ria Bakshi, Global Head of Sustainability, Accountability, Reporting and Impact, olam food ingredients (ofi)
We then heard from Alvin Lai, Researcher at TCC Group Holdings, who emphasized that nature is fundamental to human existence and must be central to business strategy. As a leading cement and construction company, TCC is embedding nature-positive strategies into its operations by focusing on biodiversity restoration, sustainable materials and ecosystem rehabilitation. Recognizing its significant environmental footprint, the company is actively working to turn risks into opportunities through scientific research, partnerships with NGOs and innovative nature-based solutions. We were delighted to hear Alvin stress that sustainability and profitability can go hand in hand, by citing the example of its low-carbon cement alternatives, which now contribute to 37% of the company’s revenue. TCC has set ambitious goals, including achieving Net Positive Impact and zero net deforestation by 2040.
"Nature is the sine qua non for human existence—it is the foundation of everything. For us nature itself is our motivation" – Alvin Lai, Researcher, the Office of Responsibility and Sustainability, TCC Group Holdings
Finally, Ankit Todi, Chief Sustainability Officer at Mahindra Group, shared how Mahindra’s approach to sustainability is rooted in business relevance, ensuring that climate and nature considerations are integrated into core strategy. As a diverse conglomerate operating across industries such as automobiles, agriculture, finance and hospitality, Mahindra is committed to becoming “Planet Positive” by embedding environmental action across all its businesses. Ankit flagged that a major focus area is water stewardship, where the company has been 100% water-positive since 2014 at group level. Additionally, the company is sharing its water stewardship learnings with suppliers, particularly in the manufacturing sector, to drive broader industry impact. Ankit also highlighted the importance of building awareness among CEOs and board members, helping them understand why biodiversity matters, its financial implications and investor expectations. By linking sustainability to business risk and opportunity, Mahindra has been able to drive deeper engagement and more concrete actions across its operations.
“Aspects that really help get wider stakeholder buy-in— building continuous awareness on a variety of new developments, regulations, investor views, etc., and by making it (nature) very real by bringing in a business element to the conversation” – Ankit Todi, Chief Sustainability Officer at Mahindra Group
Read our Asia case studies
The fruitful discussion, covering many perspectives, made one thing clear: nature action is not just an environmental necessity - it is a business imperative, particularly in Asia which is home to so many biodiversity hotspots. Companies that move beyond commitments and embed nature into their core strategy are best positioned to mitigate risk, seize new opportunities and drive lasting impact.
To find out more about our work in Asia, contact Pallavi Kalita