European Business & Nature Summit 2020: green economic recovery to reshape business for nature and people

Today and tomorrow, the European Business & Nature Summit takes place virtually. Organised by the EU Business@Biodiversity Platform of the European Commission and other partners, and with the participation of Commissioners Sinkevičius and McGuinn

Commissioner for Environment, Oceans and Fisheries, Virginijus Sinkevičius, said:

Over half of the world’s economy depends on nature, and yet, for too long, we have removed nature from the business equation. With the European Green Deal, it’s time for a different approach – to better measure the business impacts and dependencies on nature and bring the concern for nature in company boardrooms. Today’s conference will help us grasp the scale of the efforts needed and further intensify our actions for the establishment of an international natural capital accounting initiative.

 Commissioner for Financial Services, Financial Stability and Capital Markets Union, Mairead McGuinness, said:

Nature is capital and sustainability may become the strongest currency of the future. I very much welcome this conference that gathers stakeholders that recognise the crucial role of biodiversity in Europe’s economy. Our commitment to deliver on the Green Deal requires mobilising at least half a trillion euros per year of additional investments in the EU. The momentum for our renewed Sustainable Finance Strategy could not be better. I trust that with decisive and collective action we will manage to reverse the unprecedented implications of the current biodiversity crisis.

Gathering large, small and medium size companies, business frontrunners, financial institutions, and other stakeholders, the Summit is a forum to promote ways for businesses to integrate natural capital and biodiversity into the corporate decision making and contribute to ecosystem recovery.

The Summit will discuss best practice examples and latest business initiatives that aim at integrating natural capital and biodiversity into the corporate decision making. Speaker include Commissioners Sinkevičius and McGuinness, who will introduce the latest policy responses from the European Commission to support businesses on this path, CEOs and representatives of large companies (Danone, H&M, Alpro,) and financial institutions (such as BNP Paribas AM, Deutsche Bank or Allianz France) including new signatories of the Finance for Biodiversity Pledge. More information on the programme is available here.

Background

In light of countries’ efforts to handle the Covid-19 crisis and overcome its economic impacts, there is more than ever a need for businesses to reconsider their relationship with nature and people. To rebuild their resilience and thrive in the long term, businesses must embark on a green recovery. As emphasised in the EU Recovery Plan and the new EU Biodiversity Strategy for 2030, boosting society’s resilience and preventing the emergence and spread of future virus outbreaks can only be achieved by protecting and restoring biodiversity and natural ecosystems. Biodiversity and natural capital considerations need to be better integrated into business decision-making at all levels.

Building on the successes of the 2019 conference held in Madrid, this year the EBNS will be a fully virtual event designed. The event is organised by the EU B@B Platform of the European Commission in cooperation with the Belgian federal and Flemish government, The Shift, and the Association of Chartered Certified Accountants (ACCA).