Lack of perceived materiality of company dependence on nature, and lack of tools to understand this, fundamentally underpins a lack of business action to conserve biodiversity. Understanding how businesses impact, and depend upon, the natural environment can lead to increased corporate action to conserve biodiversity and ultimately more sustainable and competitive companies. To support this growing need UNEP-WCMC, in collaboration with the Natural Capital Finance Alliance (NCFA), have developed a new tool, ENCORE, which allows businesses to visualise how they depend on the environment and how environmental change may create risks. In this session, UNEP-WCMC and the NCFA will provide an overview of business dependence on nature, the needs expressed by financial institutions, and the tool which has been developed to meet these needs, with examples from business sectors, such as agriculture and technology, and financial institutions who have already piloted the tool.
