PwC to Boost Global Nature and Biodiversity Capabilities

Professional services firm PwC is building on its climate-related initiatives by augmenting its global nature and biodiversity capabilities. The move comes as new PwC research finds that 55% of the world’s GDP is exposed to material nature risk.

As part of a global suite of initiatives, PwC will launch a new global Centre for Nature Positive Business and provide nature-positive training to help upskill its 328,000-strong global workforce in order to better understand nature impacts and work towards nature-positive outcomes with clients.

PwC’s new Centre for Nature Positive Business will bring together and further expand key nature capabilities across the world in areas such as biodiversity, water, regenerative agriculture and forestry.

PwC will also double the size of its team of nature specialists over the next 12 months, from 500 to 1,000. PwC’s nature specialists work on a variety of topics including nature positive strategy and transformation, nature risk management and reporting, nature technology, data and measurement, and nature finance and fund management.

The initiatives come as new PwC analysis finds that nature’s decline poses significant risks to the global economy and society at large if organisations do not transform their practices now. More than half (55%) of the world’s gross domestic product (GDP) – equivalent to an estimated US$58 trillion – is moderately or highly dependent on nature, rising from US$44 trillion in 2020.

All 163 economic sectors analysed by PwC have a portion of their value chain that is highly dependent on nature. The health of natural ecosystems and biodiversity have far-reaching implications, with more than half (50.6%) of the market value of listed companies on 19 major stock exchanges exposed to material nature risk.

“The declining health of our natural ecosystems presents one of the most pressing challenges to our planet today. Shifting demographic and industrial practices and a changing global climate threatens to erode the foundation of our economies, livelihoods, health and quality of life worldwide. This presents huge risks to business and society. Of the 163 economic sectors analysed by PwC, all of them have a portion of their value chain that is highly dependent on nature,” said Will Jackson-Moore, PwC’s Global Sustainability Leader, PwC UK.

“The imperative is clear: if organisations are to mitigate their impacts on nature, manage the risks and deliver sustained outcomes – not just for their operations but our planet and society at large – they need to transform their business models now. We’re committed to helping our clients on that journey,” he added.

To equip PwC’s global workforce with the skills needed to understand nature impacts and embed nature-positive outcomes in service offerings to clients, PwC will offer nature and biodiversity training to upskill its 328,000-strong workforce, with bespoke online learning to be made available across its network through its global Sustainability Academy.

#biodiversity #naturalcapital

Thanks for reading ESG News Asia! Subscribe for free to receive new posts and support our work.