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 a series of four articles to be published over the next four months 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.
This first article begins the investigation by outlining the links between business and biodiversity. Subsequent articles will explain what economic incentives for biodiversity are, indicate some of the associated implications of climate change, and highlight what strategies companies can adopt to best deal with environmental and biodiversity issues and the development of EIBs.Business Law Review