This step helps you develop a biodiversity strategy.
Once a decision has been made about the scope and content of your biodiversity policy, it is time to think about framing an appropriate biodiversity strategy. Because there are multiple ways of building strategic plans, we advise you to adopt (or slightly adapt) the approach already used within your organisation, making sure you articulate clearly your vision, objectives, action plans, resource / capacity requirements, and key performance indicators. Irrespective of whether your biodiversity policy focuses on conservation, sustainable use or the fair and equitable sharing of benefits arising from biodiversity, your strategy should include specific, measurable, achievable, relevant, time-bound (SMART) objectives. To that end, you should consider a number of key concepts, including:
- The impact mitigation hierarchy (Figure 1), which includes impact avoidance, impact minimisation, restoration / rehabilitation and offset measures;
- The target of no-net-loss (NNL), which refers to the point where biodiversity gains from targeted activities (e.g. restoration and offset measures) match the losses of biodiversity caused by a business activity, product or project;
- The target of net positive impact (NPI), which means that biodiversity gains exceed biodiversity losses.
- The equivalency principle, which requires that biodiversity gains match biodiversity losses in net impact accounting because the type, amount and condition of biodiversity components need to be taken into account for your company to demonstrate whether it has achieved NNL or NPI.
So as to be able to frame your biodiversity strategy, we invite you to consult the forthcoming guidance document for this sixth step of our biodiversity mainstreaming guidelines. This should help you:
- Identify the alternative broad objectives that are available for managing the material biodiversity dependencies and / or impacts of your business;
- Define and assess the associated benefits and costs for your business and / or its stakeholders;
Develop SMART biodiversity objectives for your company.
Download the new report “Invitation to join the Biodiversity Disclosure Project – A study of the biodiversity performance of South African companies”.
Undertake a self-assessment of your biodiversity performance.
Many businesses are already on the biodiversity mainstreaming journey. Here is a selection of case studies from various industries.