A recent report, The Future of Nature and Business, is the second of three reports in the World Economic Forum’s New Nature Economy series, provides the practical insights needed to take leadership in shifting towards a much needed nature-positive (regenerative) economy, AKA “restoration economy.”
As the world prepares to recover from the COVID-19 crisis, we are presented with an unprecedented clarion call, and opportunity, to change the way we eat, live, grow, build and power our lives to achieve a carbon-neutral (better yet: carbon-negative, which actually restores our climate), “nature-positive” restoration economy that leaves the world better, as opposed to the old, mostly-failed paradigm of sustainable development, which merely reduces the amount of new damage we inflict on the planet. Business as usual is no longer an option.
The report highlights the need for a fundamental transformation across three socio-economic systems, which represent over a third of the global economy and provide up to two-thirds of all jobs.
These systems are: food, land and ocean use; infrastructure and the built environment; and extractives and energy. Together they drive the threats which endanger almost 80% of the total threatened and near-threatened species. These systems, therefore, have a significant opportunity and responsibility to reverse nature loss. But they also have tremendous upside benefits to gain by embracing this transformation now.
The Future of Nature and Business sets out how 15 transitions across the three systems can form the blueprint of action for nature-positive transitions which could generate up to US$10.1 trillion in annual business value and create 395 million jobs by 2030.
The report has been prepared in collaboration with AlphaBeta. Its findings inform the working priorities of the Champions for Nature, a community of leaders disrupting business-as-usual to lead the way to a nature-positive global economy, as well as a Policy Companion report which sets out how governments can ensure nature is integrated into economies as part of a Great Reset, in a way that delivers high-quality jobs and new sources of economic value, while preserving the natural capital needed for public health and societal resilience.
Photo of fisherman by Myriams-Fotos from Pixabay.