Hundreds of the world’s biggest companies are calling on governments “to act with courage and urgency” to protect the world’s natural resources.
Business for Nature is a coalition of 560 companies across all sectors with combined revenues of $4 trillion, including U.S.-based retailer Walmart, investment banker Citigroup and tech giant Microsoft. The group issued a statement Monday urging lawmakers to adopt policies that will reverse the destruction of nature.
“Healthy societies, resilient economies and thriving businesses rely on nature,” the statement said.
The coalition said if governments fail to act, the world will not be able to meet the targets set out in the 2015 Paris Climate Agreement or “prevent a catastrophic loss of biodiversity.”
The statement pointed out that natural disasters linked to ecosystem degradation and climate change coast more than $300 billion each year, while an estimated 40-60% of small businesses never reopen after such events.
“It is exciting and unprecedented to see so many businesses urging for bold government action to reform nature policies” said Eva Zabey, executive director of Business for Nature. “Many businesses are making commitments and taking action. But for us all to live well within the planet’s finite limits, we need to scale and speed up efforts now, not tomorrow.”
Other companies who have joined the coalition are Dutch-Swiss furniture retailer IKEA, French-based multinational food products company Danone, and Swiss-based clothing retailer H&M.