Report explores new ways for businesses to engage with environmental imperatives

Extreme biodiversity loss, widespread pollution and the over-consumption of natural resources present direct challenges for key industries and exacerbate critical challenges associated with climate change, societal health, supply chain reliability and food security.

These challenges are explored in a new report from Marsh McLennan, which highlights how nature risks and opportunities are already material to businesses and describes new tools and frameworks for assessment and reporting.

Published today, the report examines recent market and regulatory developments and presents a number of strategies for organisations looking to incorporate nature in their agenda.

Report author Dr Swenja Surminski, managing director of climate and sustainability, Marsh McLennan, said: “It is crucial that businesses embrace complexities and uncertainties by integrating ‘nature loss’ into their risk governance systems. This includes reviewing the double materiality of risks — understanding how their assets and operations impact nature and how in turn they depend on it.”

Marsh McLennan’s overarching recommendations for businesses striving to incorporate nature-related risks in their agendas and capitalise on new opportunities include:

• Integrate nature into corporate risk governance;
• Manage complexities in assessment and align reporting with emerging standards;
• Leverage innovations in risk management; and
• Identify new market and financing opportunities.

See the next issue of CIR Magazine for more on this report.

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