As the main drivers of economic activity, private companies play a major role in shaping the development of societies. Ultimately, businesses will be the leaders of the transition to a greener world economy. While many of the negative impacts on biodiversity are caused directly by unsustainable business practices, many companies have taken major steps towards more environmentally-friendly operations. With the guidance of environmental organizations, and enabled through an appropriate policy framework, private companies can become important actors in the global effort to conserve biodiversity and ecosystems.
IUCN’s private sector’s strategy notes that it is particularly important to engage with sectors in which change is most urgent. IUCN is thus working in collaboration with companies that have a large ‘biodiversity footprint’, such as mining, oil and gas, and construction, to support their mitigation efforts and develop robust sustainability standards. Engagement is also undertaken with those companies that have a strong dependence on ecosystems, such as the agricultural, forestry, and wildlife sectors, in an effort to identify opportunities to enhance conservation by supporting sustainable enterprises. So-called ‘green’ enterprises, be they related to organic agriculture or eco-tourism, can potentially play a significant role in support of conservation objectives while also making a broader contribution to economic development and employment. The conservation community needs to work closely with the tourism industry to ensure that its development supports, and does not undermine, the sustainability of the site at which tourism activity takes place. Such collaboration is particularly essential in places such as protected areas in general, and World Heritage Sites in particular.
Another critical sector is the financial one, as the impacts of investment policies are felt widely across a range of economic sectors. The integration of biodiversity values into the banking and insurance industries, for instance, is a critical component of the transition to a green economy.
