Business is yet to reveal the true value of protecting and restoring nature

Earlier this month, the WWF released new data that showed an alarming picture: over the past 50 years, the number of wildlife populations worldwide has declined by 73%. The natural world has reached a tipping point. The case for nature conservation and restoration is well recognized by scientists, the European Commission and NGOs, but is still not so clear from the point of view of European business. Europe will not achieve its climate goals without nature-based solutions. Europe will not achieve sustainable growth without nature. Nature is fundamentally intertwined with business.

This is what he wrote in his analysis about Euractiv José Matejse, President and General Manager Europe at SIG.

There are signs of positive momentum for action on nature in Europe. The European Green Deal has led to a series of new strategies and laws, including a Nature Restoration Act. In September, President Ursula von der Leyen spoke of the need for a "fundamental rethink" of the relationship between our economy and nature. Meanwhile, Mario Draghi's competitiveness report outlined the need for integrated policies across the EU if we are to unlock growth. I believe that both imperatives should be combined. Nature and growth are not a compromise, but mutually reinforcing.

There is a way to rethink our relationship with nature so that it is preserved and supports sectors that are critical to the EU's climate transition. This can help deliver EU growth, support innovation and meet climate targets. Forests are an important example. Europe still has forests that are habitats for biodiversity, contribute to water resilience, store carbon and, crucially, support many key industries in Europe. Forests are a critical resource for mitigating climate change and growing Europe's economy. We need to protect them to maintain biodiversity while optimizing how they can be used to help industries decarbonize and grow. There are ways to do this: protecting old-growth forests that have not been intensively logged, restoring critical natural areas and ensuring that sourcing is covered by the world's strictest third-party forestry standard – FSC.

Immediate action

There is a set of immediate actions for forests that I urge the private sector to support.

First, the EU needs common criteria for sustainable forest management applicable to all member states. This will help to bridge the inconsistencies in the treatment of forests across Europe and encourage companies to commit to the strongest and most reliable standard of forest management. Stricter common criteria will help protect biodiversity and could unlock investment in nature-based solutions.

Second, inspired by the EU Nature Recovery Act, companies can set ambitious recovery targets. They can encourage cooperation between local jurisdictions, businesses and smallholders. It can also create new business opportunities by placing greater value on protecting and restoring nature.

Nature and nature-based solutions will be central to this if the private sector and regulators can work together to take transformative action. The combination of nature conservation, sustainable use of renewable resources and large-scale nature restoration can help Europe achieve its goals for sustainable economic growth.