Concurrent Session: | 4 OCTOBER
Biodiversity and Ecosystems: Approaches to Disclosures and Due Diligence
DATE AND TIME
4 October 15:30– 17:00 hrs (ICT)
Conference Room 3, UN Conference Centre Bangkok, Thailand
In Asia, biodiversity loss is happening at a staggering rate, with negative impacts on ecosystems, economies and human societies. Increasingly, business is recognizing its role in mitigating this crisis, with a view towards business continuity and growing interest in environmental rights protection.
To help the private sector better understand established and emerging international standards, this session will introduce business professionals and others to the reporting framework and “LEAP” assessment process led by the Task Force on Nature-based Disclosures (TNFD).
The TNFD is a global, market-led initiative with the mission to develop and deliver a risk management and disclosure framework for organizations to report and act on evolving nature related risks and opportunities. Importantly, the TNFD is driving alignment with the emerging global reporting baselines and best practice standards and tools already in use by market participants today.
The LEAP approach is a process intended to support internal, nature-related risk and opportunity assessments within corporates and financial institutions. Similar to some of the features of Human Rights Due Diligence articulated in the UN Guiding Principles on Business and Human Rights, LEAP involves a four-step process that asks business to:
1) Locate its interface with nature;
2) Evaluate its dependencies and impacts on nature;
3) Assess risks it poses to nature and opportunities to halt or reverse any negative impacts; and
4) Prepare to respond to nature-related risks and opportunities and report.
This session will focus on assessment and disclosure practices that businesses can immediately adopt to mitigate their impact on biodiversity. Drawing on case studies provided by business professionals themselves, this session will also provide a scan of emerging best practices for sustainable resource management, biodiversity and ecosystem protection, pollution mitigation and the use of renewable energy sources.
The objective of this session is to introduce business professionals to the steps necessary to reduce the risks and impacts posed by business operations to biodiversity.
The session will involve lecture-style presentations and case studies, complemented by reflections of sustainability professionals who will share their views on the real-world challenges and opportunities in the implementation of biodiversity risk strategies, including disclosures.
The audience will also be encouraged to share their experiences and insights to facilitate peer learning. The session is an introduction to a more detailed training to be conducted in the following six months in key markets in Southeast Asia.
Upon completion of the session, participants will be able to:
Understand the importance of the conservation and sustainable use of biodiversity and ecosystem protection and the role of businesses in mitigating biodiversity loss
Understand the principal steps of the LEAP assessment process and disclosure requirements of TNFD
Better articulate the impact of their own operations on biodiversity and ecosystems and explain strategies to reduce their environmental footprint to their colleagues and senior management
Better integrate biodiversity and ecosystem considerations into their operations and to identify, assess and mitigate negative impacts on biodiversity of their business operations
Understand when and how to engage with stakeholders to promote conservation efforts.