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The letter, signed by business networks, including the Corporate Leaders Group Europe (CLG Europe), We Mean Business Coalition (WMBC), World Business Council on Sustainable Development (WBCSD), CDP and the B Team, says the three committees should work to strengthen the EU Commission’s current proposal for the Nature Restoration Law, ensuring it aligns with the EU’s international commitments on climate change and biodiversity.
The letter states “the European Parliament played a key leadership role in increasing the EU’s climate ambition and strongly supported EU commitments on tackling biodiversity loss in the EU 2030 Biodiversity Strategy. We now call on you to stand as a united front in your role as the EU’s ambition setter to harness the EU’s climate and nature ambitions and give clear policy direction to Europe’s economic actors on your commitment to a coherent, ambitious, robust Green Deal that increases the EU’s resilience.”
The letter warns that companies across Europe are already experiencing the damaging impacts of climate change and biodiversity loss on their business operations. It also highlights that nature restoration would bring huge benefits to business, including increased resilience against extreme weather events, job creation and the creation of new markets. According to the European Commission’s impact assessment, investing in nature restoration would add between €8 to €38 in economic value for every €1 spent.
The letter was sent to the European Parliament Committee on Environment, Public Health and Food Safety, Committee on Fisheries and Committee on Agriculture and Rural Development and was signed by Corporate Leaders Group (CLG) Europe, We Mean Business Coalition, World Business Council for Sustainable Development (WBCSD), The B Team, CDP, CER Sustainable Business Network – Slovenia, Business for Biodiversity Ireland, Ecopreneur.eu – European Sustainable Business Federation, MVO Nederland, Entreprendre Vert – France, The Shift – Belgium, Responsible Business Forum in Poland.
Ursula Woodburn, Director of CLG Europe said: “Continued degradation of nature threatens the sustainability of European businesses through unforeseen and often unmanageable disruptions from operations to supply chains. As we heard from the IPCC, if we do not act on climate mitigation this will only get worse. The IPCC report also flags the crucial role of nature in mitigating impacts for communities and removing carbon from the atmosphere. EU policies on nature and climate must therefore go hand in hand to protect European communities and businesses.
“The Nature Restoration proposal has the potential to increase the resilience of Europe and its economy. Ahead of decisive negotiations in the European Parliament, this call from business networks reminds MEPs of the critical need to offer clear policy direction to Europe’s economic actors on their commitment to a coherent, ambitious, robust Green Deal that increases the EU’s resilience.”
Marzena Strzelczak, President, CEO of the Responsible Business Forum and CSR Europe Board Member said: “Positioning nature at the heart of corporate strategy is vital for sustainable business and for our future. Thus, we need ambitious legislation that sets the framework for a comprehensive approach to key environmental challenges. Nature is everyone’s business and has a critical role in the success of every business.”
Rasmus Valenko, Managing Director- Systems Transformation, We Mean Business Coalition said: “The IPCC Synthesis report released last week re-emphasised the vital role of restoring nature in our fight against climate change. The overall mitigation potential to 2030 from the land and agriculture sectors are equivalent to the energy sector’s potential. Therefore, it is crucial that the EU institutions and leaders work to strengthen the EU nature restoration law proposal with the same dedication as businesses take action on climate, energy transition and nature work on our energy transition.”