PwC Greece: Operation of international Center for Positive Business towards Nature begins

A new, international Center for the development of Nature Positive Business called Center for Nature Positive Business, was launched by PwC Greece.

At the same time, as stated in a related announcement, “by providing nature conservation training, PwC contributes to the upgrading of the skills of all its human resources, which number 328,000 people, with the aim of better understanding the impact on nature and cooperation with the customers to achieve environmentally positive results’.

The initiative comes alongside the publication of the company’s latest analysis, which finds that the decline of nature poses significant risks to the global economy and society at large if organizations do not change their practices immediately. More than half (55%) of the world’s Gross Domestic Product (GDP) – equivalent to $58 trillion – is moderately or heavily dependent on nature, compared to $44 trillion dollars in 2020. Accordingly, all without exception of the 163 economic sectors analyzed by PwC are highly dependent on nature, at least in some part of their value chain.

Implications

According to the same research, the health of natural ecosystems and biodiversity have far-reaching implications, with more than half (50.6%) of the market value of listed companies on 19 major stock exchanges exposed to significant nature-related risks.

According to Will Jackson-Moore, Global Sustainability Leader at PwC: “The declining health of natural ecosystems is one of the most pressing challenges facing the planet today. Shifting demographics and industrial practices and a changing global climate threaten to erode the foundations of economies, livelihoods, health and quality of life worldwide. A fact that causes enormous risks for businesses and society as a whole. The imperative is clear: if organizations want to mitigate their impact on nature, manage risks and deliver sustainable results – not just for their operations but for our planet and society at large – they need to transform their business models now. We, at PwC, are committed to helping our clients on this journey.”

The target

PwC’s new international Center for Nature Positive Business will bring together and further expand the company’s nature capabilities internationally, in areas such as biodiversity, water resources, regenerative agriculture and forestry. Additionally, within the next year, the company will double the number of nature-related experts it has to a total of 1,000. PwC’s nature professionals work on a wide range of topics, including nature-positive strategy and transformation, nature-related risk management and reporting, nature technology, data and metrics, and the financing and management of nature-related funds.

Human resources

To equip its global workforce with the skills needed to understand impacts on nature and incorporate related positive outcomes into the services it offers clients, PwC will train its 328,000 employees on nature and biodiversity issues. Specifically, the specialized training will take place online and will be available throughout the organization’s network through its global Sustainability Academy.

Evaluation

At the same time, PwC has conducted a global assessment to identify which of its offices are in or adjacent to biodiversity hotspots, and an assessment process is underway to determine nature-related impacts on the network’s supply chain .

The business community can play a catalytic role in the global transition to a green, zero energy footprint era, while the diversity of its client base and the international reach of its work in 152 countries enable PwC to have its impact. In addition, in order to promote the development of frameworks, ways and methodologies that ensure the necessary architecture for rapid system-wide change, PwC will continue to work with a range of organizations across industries to develop cutting-edge innovative initiatives.

Support

PwC already supports the Science Based Targets Network (SBTN) by deploying its experienced staff to validate new nature-related corporate targets, while also working with the Nature-Related Financial Disclosures Working Group (Nature-related Financial Disclosures – TNFD) to improve market access to relevant data. At the same time, it also collaborates with the World Business Council for Sustainable Development (WBCSD) with the aim of piloting the TNFD in each sector separately. In addition, the company has worked with the World Economic Forum to develop guidelines on how businesses can implement the Global Biodiversity Framework, as well as with the WBCSD to develop expertise around ecosystem assessment and solutions focused on climate and nature.

Emma Cox, PwC’s Global Climate Leader, noted: “The launch of PwC’s new international Center for Nature Positive Business represents an exciting opportunity for businesses to better understand and assess their impact on nature, contributing in developing a sustainable ecological future. Climate change and nature are inextricably linked, and as the challenges facing the environment continue to grow, so will the impacts on ecosystems worldwide. By strengthening our capabilities in supporting our clients’ need to develop and implement nature-positive strategies as part of their broader sustainability strategies, we are helping to transform the operating models of a growing number of businesses. In this way, we also contribute to the creation of a world with a zero carbon footprint and a positive sign towards nature.”