Nature Based Solutions for Business

20 Jan

This Business Declares event, Nature Based Solutions for Business, was held on November 24th 2021, in partnership with, WONDEROOM, a member of Business Declares which supports businesses on nature positive solutions.

This event was hosted in The Greenhouse - WONDEROOM’s new space to create, scale and communicate nature positive solutions with diverse leaders and pioneering brands.

You can catch a video replay of the webinar here

Introduction to the event

The event was introduced by Ben Tolhurst, Director of Business Declares. Ben outlined the importance of tackling the biodiversity crisis as part of the overall drive to tackle the climate emergency, highlighting that we are dependent on a healthy and biodiverse ecosystem for our future survival and in the UK, this is particularly alarming as we are one of the most nature depleted countries in the world. He finished by stressing that Nature Based Solutions (NBS) and their connection to businesses will only increase exponentially in importance (and businesses will be increasingly monitored through a raft of forthcoming legislation) and now is the time for businesses to seriously engage in this issue.

Background to WONDEROOM, NBS and Introduction to the panel

Mairead Cahill founder of WONDEROOM kicked off the event. Building on Ben’s points about the urgency and need for businesses to engage with this issue, she highlighted the 5 key benefits to businesses who adopt Nature Positive Solutions as part of their core strategy. In brief these are:

Help to achieve climate/net-zero & biodiversity goals.
Create regenerative products/services that grow your business.
Access cheaper capital and get ahead of nature-related regulation.
Build a resilient business and manage risks.
Attract and retain employees, customers and investors.

Mairead talked about the definition of “Nature-Based Solutions”, the importance of taking a strategic approach and the work which WONDEROOM does to support businesses in this area. She highlighted that all too often businesses view NBS as a functional opportunity only to sequester and offset carbon as part of their net zero roadmap. However, there are far wider advantages and benefits to businesses which include;

Protect business-critical natural resources and assets and build a resilient business adaptive to the effects of climate change;
Generate economic opportunities and support local communities (by selecting nature-based solutions that link to an organisations’ physical presence and operations);
Provide learning, upskilling and well-being benefits for people and teams (particularly through direct engagement with local NBS projects).

Mairead highlighted the opportunity to pursue NBS connected to a business’ strategy, core strengths, supply chain, physical presence, people and customers, to maximise benefits for climate and biodiversity, people and business.

The Panel Discussion

The panel shared case studies and best practices for businesses from leaders in this space – ARUP, Triodos Bank and Riverford. The business case studies shared are referenced below. Specific benefits and tips are discussed in the webinar recording which you can access here.

1) Rory Canavan - Senior Biodiversity Lead; ARUP and Advisor; WONDEROOM

ARUP is a multidisciplinary design construction and engineering firm that largely works in designing and building cities. Rory highlighted that cities are hugely important when considering NBS, as it’s estimated that 70% of the global population will live in urban areas by 2050. Cities have a massive impact on nature, including their impact on biodiversity, catchment and wider area, water supplies, and contribution to the global footprint. Rory showcased the Wild West End Project in London which integrated climate and NBS with nature-positive buildings and infrastructure. The project was supported by the Greater London Authority and the London Wildlife Trust and was combined with other wider strategies around provision of open spaces to tourists, residents and workers.

2) Tom Dyke - Triodos Bank

Tom works in corporate finance within the advisory team at Triodos Bank, whose mission is to implement positive global change, by connecting like-minded savers and investors with sustainable entrepreneurs and organisations. Tom showcased the Wyre Catchment Natural Flood Management Project, a pilot project initiated by the Rivers Trust, which secured £1.5m in private investment to implement natural alternatives to hard-engineered flood risk management solutions, such as leaky dams, peatland restoration, wetlands and afforestation. This was done for communities in Church Town, in the upper Wyre catchment, Lancashire, who have experienced significant flood events over the last decade.

3) Zac Goodall - Sustainability & Ethics Manager; Riverford Organic Farmers

Riverford is an organic vegetable box business that delivers nationwide, with a broad supply base throughout the UK and Southern Europe. Riverford have been measuring their carbon footprint for the last few years and have recently completed a baseline biodiversity survey on their own farms.

Zac showcased Nut-based Agroforestry Systems. Recognising that agriculture is a huge driver of biodiversity loss and contributes to around 10% of overall greenhouse gas emissions, Riverford work hard to build regenerative agriculture as a NBS within their farms and supply base. Riverford's new 'refer-a-friend' scheme neutralises the costs of nut tree agroforestry establishment for farmers, including purchasing walnut, hazelnut and chestnut trees, fencing, planting, weeding, and general labour costs. This will create a nature-based solution that seeks to navigate the transition to regenerative agriculture, whilst providing the natural capital assets needed in our landscape and farm businesses.

The discussion then led into a number of questions including themes around:

Practical ways in which businesses can get involved in NBS

Measurements, metrics and reporting
Soil health
Commercial value of NBS versus NBS for its own sake to tackle the climate and ecological crises, with the consensus being that it can drive both.

Close

Mairead closed the webinar with a short overview of PROJECT NOW – an opportunity for businesses to collaborate together on cutting edge and impactful NBS in the UK in 2022 to deliver net zero, biodiversity, people and business benefits. WONDEROOM and Business Declares will be sharing more information on opportunities for businesses in the network to engage in Q1 2022. In the meantime, interested businesses were asked to get in touch with Mairead or Ben for more information.