How ambitious are nature assessment tools for the private sector? A preliminary review for business, investors and tool developers
The world is facing an escalating nature crisis, characterised by rapid ecosystem degradation and significant biodiversity loss. This crisis has widespread implications for the environment, economies, societies and cultures.
Recognising the crucial role that biodiversity plays in sustaining economic and social systems, business and investors are beginning to develop targets and strategies to address their nature-related risks and impacts. An array of principles, standards, guidelines and reporting frameworks have been developed to support this.
But little work has yet been done to compare and contrast these tools to help business and investors understand which will best meet their needs or if, and how, Indigenous Peoples' and local communities’ concerns and rights are mentioned in the tools, let alone upheld in practice. In addition, new terminology is appearing, such as ‘nature positive’, which is not yet clearly defined.
This paper reviews some of the existing tools and provides recommendations for how they can be improved and better address Indigenous Peoples’ and local communities’ concerns and rights.
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Available at https://www.iied.org/22556iied