Biodiversity loss is a major global issue of increasing significance to the public, politicians and businesses. A key contributory solution, as advocated by the UN Convention of Biological Diversity and Millenium Ecosystem Assessment is to change the way people and businesses behave towards the environment through introducing “economic incentives for biodiversity” (EIBs). These EIBs begin to reflect the true value of the environment, and are now being adopted worldwide with significant implications for businesses.
The overall objective of this series of four articles is to explore the literature relevant to the extent to which the development of economic incentives for biodiversity is likely to be an opportunity or risk for extractive and water companies over the next five to 10 years.
The first article began the investigation by outlining the links between business and biodiversity. The second article explained what economic incentives for biodiversity are. The third article indicated some of the associated implications of climate change. This last in this series of articles examines what strategies companies can adopt to best deal with environmental and biodiversity issues and the development of EIBs.Business Law Review