SUSTAINABILITY
• Dependencies – of the organisation on nature
• Impacts – on nature caused , or contributed to , by the organisation
• Risks – to the organisation stemming from their dependencies and impacts
• Opportunities – for the organisation that benefit nature through positive impact or mitigation of negative impacts on nature
Planetary boundaries
Let ’ s take a step back to consider the scientific framework of planetary boundaries . The latest scientific framework for environmental sustainability was developed in 2009 by the Stockholm Resilience Centre to offer a framework for businesses to evaluate their exposure to nature-related risks and guide decision-making for humanity and the planet to thrive .
In a nutshell , planetary boundaries define how human activities operate within the limits of our planet ’ s capacity . There are nine planetary boundaries to consider as shown in Figure 1 and six of them have already been crossed .
Climate change , biosphere integrity , land-system change , green water ( terrestrial precipitation , evaporation and soil moisture ), biogeochemical flows ( nitrogen and phosphorus cycles ) and novel entities ( pollutants including plastics , pesticides , industrial chemicals , antibiotics and other pharmaceuticals ) are all being impacted , as evidenced by wildfires , flooding , desertification and extreme heat seen daily .
Additionally , the accelerated growth in chemical pollution , plastic pollution and overfishing puts additional pressure on marine ecosystems . As a result , this further limits the ocean ’ s capacity to sequester carbon , which is already limited by increased acidification , pushing us closer to crossing the boundary for ocean acidification .
A planetary boundaries approach requires businesses to look at the big picture to find synergies and win-win situations . Rather than having nine different action plans , companies should consider one integrated plan that simultaneously addresses climate , biodiversity , water , land use and more , all while minimising trade-offs . Built on science , this forward-looking approach enables companies to make decisions based on what is needed .
So far , art , science and economics tell us that nature encompasses both biodiversity — the variety of lives and “ a cornerstone of human health and well-being ”— and ecosystem services , which are benefits provided by living organisms and natural processes . Companies ’ operations depend on other Earth systems for raw materials and ecosystem services .
Issues beyond climate
Both the impact and the dependencies of business activities go beyond climate . On one hand , climate , biodiversity , water and other environmental challenges cannot be addressed in silos . On the other hand , any company that focuses solely on climate would ignore other critical environmental impacts and dependencies .
European legislation summarised this with the concept of double materiality , which sits at the heart of new regulations like the Corporate Sustainability Reporting Directive ( CSRD ). Businesses both depend on ecosystems and impact them through their activities . Failing to recognise , assess and address what , how , where , when and why will have long-term effects on companies ’ value chains .
Why do we mention value chains ? Because most of the chemical sector ’ s dependencies are hidden in its supply chains . According to a World Economic Forum report , more than 50 % of the gross value-added of chemical company supply chains ( as per five other industries ) is highly or moderately dependent on nature . 3
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