Every business should consider, manage and measure how it uses and impacts on the natural environment in which it operates as a matter of good business strategy.
What is it?
The natural environment includes the atmosphere, air, land and water, as well as the species and ecosystems which comprise the earth’s biodiversity. The value of nature is increasingly described as natural capital, delivering as it does ecosystem services that underpin our economy.
Why is it relevant for business?
The natural environment underpins business in innumerable ways including through delivery of healthy soil, fresh water, stable climates and pollination. Every business should consider the natural environment in terms of its operations under the following key areas:
- Biodiversity and natural capital: Every business should value and account for the natural capital it uses, as well as manage and mitigate its negative impacts on biodiversity.
- Climate change: Every business can thrive through playing its part to mitigate climate change and by addressing climate risks and opportunities related to its operations.
- Management and compliance: Every business should manage, measure and report its environmental performance, whether required to do so by regulation or not. Identification of environmental risks and opportunities are key to the long term future of a business, are relevant for stakeholders and can also influence government policy.
- Resource efficiency: UK businesses will play a vital role in moving the UK towards a resource efficient and low carbon economy. In doing so, every business can achieve significant operational, financial and reputational benefits through more sustainable and efficient use of resources.
- Think about the value of the environment to your business and its impact on the environment
- Test new ideas, products/services and business models that better manage environmental impacts and value the contribution of the environment to your business.
- Build these new concepts across your business
- Events and workshops to promote understanding of the topic and learn best practice from peers
- Bespoke advisory services to companies around this agenda
- Businesses are able to use our Environment Index to measure their environmental management and performance, compare this to their competitors and demonstrate to their customers their commitment to being more environmentally responsible.
- BITC reviews the sustainability criteria (including environmental performance) for Royal Warrants granted to suppliers of the Royal Households.