Month: February 2023

Just a few months after breaking ground in July 2022, Chevron’s Hayhurst Solar Power Facility is taking shape. A joint venture with Algonquin Power & Utilities Corp., the solar field is closer to powering our Permian Basin operations with renewable energy.

why it matters

By using solar energy, we can decrease the carbon intensity of our operations while freeing up energy from the grid. The 120-acre solar array is capable of generating 20 megawatts of energy per day and will help power our Hayhurst, New Mexico-area operations.

“We are working to further reduce the carbon intensity of our operations by deploying renewable power to support Chevron’s operations in the Permian.”

allen satterwhite

president of chevron pipeline and power

rewind

The New Mexico Land Office awarded Chevron and Algonquin a lease for the site earlier this year.

“The increased interest in use of renewable energy in extractive industries further proves the reliability and cost-effectiveness of solar energy and why increasing our renewable energy output in New Mexico is critical to the long-term health of our land and state,” said Stephanie Garcia Richard, state commissioner of public lands.

what’s next

The expansive solar array is expected to be completed by the end of 2022. Once it’s up and running, Algonquin will operate the facility, and we will purchase the solar energy from them.

As the economy pressures companies to tighten their budgets, more ESG and CSR leaders are having to prove why their initiatives should remain a priority. Claims of “woke capitalism” from political leaders and a lack of internal consensus on ESG’s importance only complicate the situation.

ESG and CSR leaders are not alone, though. For 18 years, the Association of Corporate Citizenship Professionals (ACCP) has provided a network of support and resources to help professionals advocate for investment in ESG/CSR initiatives. ACCP cultivates inclusive peer communities to help members create a more equitable, sustainable, and prosperous society through corporate commitments.

To share more about ACCP’s work – and the state of ESG and CSR today – we invited Carolyn Berkowitz, President and CEO at ACCP, to the show.

Listen for insights on:

The difference between ESG and CSR.How to help educate colleagues in different departments about the importance of ESG/CSRHow to measure the “S” in ESG and extend it to corporate strategyWhen companies should publicly engage in ESG issuesThe skills needed for CSR employees today

Listen to this episode and others at Purpose 360 Podcast.

Join us on March 1st in conversation with Sean Wiltshire, CEO of Avalon Employment. It’s a first–hand opportunity to explore how social value thinking can enable you to maximize impact.

In Sean’s words, placing SROI and social value thinking at the heart of Avalon Employment’s work transformed the organization. “We ask better questions, and we listen more effectively. The people we serve are experiencing much better outcomes as a result.”

A decade ago, Sean took part in an SROI study to express the value of Avalon Employment’s work. As he describes it, the SROI process transformed the organization.

We invite you to join us on March 1st at 12 EST, to engage in conversation with Sean and hear first-hand how embedding SROI into the work of Avalon Employment has led to clients experiencing better outcomes.

for the webinar

Jon Moeller, P&G’s Chairman of the Board, President, and Chief Executive Officer said: “You have been critical to our success. Your sustained performance and partnership have enabled our mutual growth. We want to keep strengthening this partnership between our respective companies because we believe it is a source of competitive advantage.”

What I appreciate most about Team Dow is the value we place on collaboration, throughout the value chain, to deliver for our businesses, partners, and each other. We have built a culture that embraces trust and transparency, enabling us to connect and collaborate effectively with many different stakeholders, companies and across markets, such as Home and Personal Care. More than ever, we operate with a high degree of uncertainty. Despite these challenges, we continue to focus on optimizing our commercial and operations excellence to maximize value for Dow and enable our customers’ success with their customers.

This was recently acknowledged by Procter & Gamble (P&G), one of our key strategic customers. P&G’s Fabric & Home Care (F&HC) division exclusively selected Dow to receive their External Business Partner of the Year Award. We are honored and proud to receive P&G’s highest recognition for their business partners.

As Dow’s Account Executive for P&G, I know what it takes to be a reliable, trusted partner. It makes me proud to be part of a driven, determined team that spans across regions and businesses to support our customer. The team continually brings their best and works to elevate our engagement in service and supply to meet requirements in the short- and long-term. I’m truly humbled by this award as it recognizes the potential when you collaborate closely, both internally and with counterparts at the customer, truly speaking each other’s language and building a deep understanding.

Innovation and the power of an extraordinary relationship

At the beginning of this year, P&G requested urgent support from our team to develop and provide a new raw material needed for the launch of a new hard surface cleaner, which was imminently scheduled in Europe. P&G’s original supplier was unable to meet the very tight launch deadline, so they turned to Dow for help with material and formula design. Typically, our development and systems’ approach would take around two years. However, our motivated team was able to develop a technical solution and deliver the scale up and supply plan in a matter of months.

Pulling off supply chain miracles during a pandemic and a freeze

One of Dow’s strategic pillars, aligned with our ambition, is customer-centricity. To meet the specific needs of P&G, we implemented unique, cross-regional shipping lanes to support outsized demand, provided P&G with real-time visibility on deliveries and updates on production plans. Through regular, open communication, Dow and P&G worked together to be flexible during times of supply chain disruption, showcasing extraordinary teamwork between functions, operational excellence, and constant updates, as keys to a successful collaboration.

Leadership for a sustainable future

Sustainability is another foundational pillar of the relationship between P&G and Dow. Both in terms of climate change as well as circularity, we are partnering to innovate and move the needle to create a more sustainable world. Together, we are driving greater sustainable efforts aimed to reduce carbon footprint and greenhouse gas emissions. We hope to inspire and lead together, lifting partners and industry on this journey.

Inclusive collaboration for today and tomorrow

Beyond the innovative, customer-centric, and sustainable elements of our collaboration with P&G, we also aim to enhance our diversity and inclusion program sharing with the help of our Employee Resource Groups (ERGs). There have been many examples between our companies across regions and with mutual support. Recently, a particularly important contribution from our side was during P&G’s global F&HC webinar on inclusion. P&G shared they were inspired by Dow’s leadership and that they could learn and improve from Dow’s insights. Feedback from the discussion and program was overwhelmingly positive and appreciative, and it’s great to know Dow was able to contribute to P&G’s journey for a more diverse and equitable workplace.

Our successful partnership with P&G rests on the shoulders of a talented, diverse, and driven team, that builds relationships, challenges barriers, finds solutions, and perseveres no matter the challenge. This inspires me every day to continue to imagine better and to grow, together with our key partners!

Laura Schmidt, Senior Corporate Account Executive, Dow

NEW YORK, February 14, 2023 /3BL Media/ – UN Global Compact Network USA, the American chapter of the world’s largest corporate sustainability initiative, today announced a new slate of board officers and the appointment of two new directors. Daniella Foster of Bayer was elected the new board chair; Ann Tracy of Colgate-Palmolive was named Secretary; and Shobha Meera of Capgemini stepped in as interim Treasurer. They will join Gayle Schueller of 3M, the Vice Chair, on the executive committee. In addition, Michael Okoroafor of McCormick & Company and Brian Tippens of Cisco, have joined the board.

Foster, an executive board member and senior vice president and global head of public affairs, science, and sustainability, and consumer health at Bayer, is in her sixth year of service to the Network USA board. She had previously served for two years as the board Secretary.

“I’m honored to be elected as the chair of Network USA and look forward to working with the entire board to advance the organization’s growth,” said Foster. “As one of the largest UNGC networks in the world, we have a great opportunity to help even more US companies embody and lean into the principles of the Global Compact and the Sustainable Development Goals.”

Tracy is the chief sustainability officer at Colgate-Palmolive and is in her third year on the Network USA board. Meera is the chief corporate social responsibility officer at Capgemini and has served on the board for two years.

“I’m confident that Ann will do a great job in her new role as Secretary, and I thank Shobha for stepping up to fill the Treasurer’s position,” said Foster. “Adding Brian and Michael to our board will only strengthen us in the years ahead, as they both bring great experience from their careers leading corporate sustainability programs and are passionate about the work of the Global Compact.”

Okoroafor is the chief sustainability officer at McCormick, a global leader in flavor that manufactures, markets, and distributes spices, seasonings, condiments, and other flavor products to the entire food industry. He has spearheaded the company’s Purpose-led Performance journey and its inclusion on several well-known indices and lists, including the Corporate Knights Global 100 Sustainability Index, where McCormick has been ranked as the top company in the food industry for the past seven years; the FTSE4Good Index Series; and Fortune’s 2022 Change the World list. Additionally, Okoroafor has helped McCormick obtain recognition as one of America’s Most JUST Companies by JUST Capital. In 2020, he was named an Environment & Energy (E&E) Leader 100 honoree. In 2023, he will receive a Maryland International Business Leader Award for his work to promote Maryland as a global business hub. Okoroafor also serves on the board of Charter Next Generation and AMERIPEN (American Institute for Packaging and the Environment.) He previously served in various leadership roles at PPG, Coca-Cola, and Heinz.

Tippens is in his first year at Cisco, an American-based multinational digital communications technology corporation. He serves as Cisco’s senior vice president and chief social impact officer. He is a World Economic Forum contributor and a member of the Executive Leadership Council. He previously served as chief sustainability officer at HPE and was president of the HPE Foundation. Earlier in Tippens’ career, he worked in the legal group at Intel.

In addition to the four executive committee members, Okoroafor and Tippens join Jennifer Leitsch of EY and Eunice Heath of CRH as current Network USA board directors.

Network USA currently has more than 900 signatory participants and works with them to identify sustainability challenges and opportunities, provide practical guidance, and promote action to support broader UN goals. It works closely with the UN Global Compact Office to ensure that its members have access to all programs and learning tools to help them make progress against the Ten Principles and SDGs.

About the United Nations Global Compact

As a unique initiative of the UN Secretary-General, the United Nations Global Compact calls for companies everywhere to align their operations and strategies with the Ten Principles in human rights, labor, environment, and anti-corruption. Our ambition is to accelerate and scale the collective global impact of business by upholding the Ten Principles and delivering Sustainable Development Goals through accountable companies and ecosystems that enable change. With more than 17,000 companies and 3,000 non-business signatories based in over 160 countries, and 69 Local Networks, the UN Global Compact is the world’s largest corporate sustainability initiative — one Global Compact uniting businesses for a better world. For more information, follow @globalcompactusa on social media and visit our website at https://www.globalcompactusa.org/.

Contact:

Noah A. Smith 
UN Global Compact Network USA 
+1 917-868-9320 
noah@globalcompactusa.org

Taking place on the first Friday of March each year, Employee Appreciation Day is the perfect time to show your gratitude for the hardworking staff at your organization.

Employee appreciation is essential for job happiness and an engaged and productive workplace. It is important to show staff members you appreciate and are aware of what they are doing, as nearly 80% of workers who quit their jobs cite management or the workplace environment as the reason. Creating a welcoming and equitable workplace can help keep employees.

This year on Employee Appreciation Day, recognize your team’s efforts and contributions towards your organization’s success by demonstrating that employee health and well-being is of the utmost importance to your company – on Employee Appreciation Day and every other day of the year.

Here are a few ideas to help you show your appreciation:

Say “thank you”. Take the time to personally thank each employee for their hard work and dedication. A simple “thank you” can go a long way.Launch an Employees Assistance Fund (or if you already have one, remind employees about this incredible employee benefit). An Employee Assistance Fund (EAF), also known as an Employee Relief Fund or an Employee Crisis Fund, is a program which can be used to provide financial support to employees impacted by disasters, personal emergencies, and other hardships. You can learn more about the benefits of working with America’s Charities as your EAF partner here.Support your employees’ passions through workplace giving, matching gifts, dollars for doers grants, and volunteerism. An effective way to further demonstrate your company’s commitment to your workforce while also creating social impact is by offering opportunities for your staff to support the causes they care about. You can learn about what these programs entail and how to start one here.

These are just a few ideas to help you show your employees how much you appreciate them on Employee Appreciation Day. When you take the time to recognize and reward their hard work, you show them that their efforts are truly valued.

 

Non-profit delivers life-changing programs—nutrition, education, kinship, wellness—to those in need

A house fire last year sent a Newport, RI, family spiralling. The household situation was already complex. The matriarch, a grandmother, is raising her three grandchildren, one with cystic fibrosis and another with Down’s syndrome.

The family sought relief at the Dr. Martin Luther King, Jr. Community Center, a not-for-profit that has helped people in need in the Newport community since 1922. The 101-year-old center came to the family’s aid, putting food on the table and providing Christmas gifts for the kids.

Unexpected hardships often bring new clients to the MLK Center, says executive director Heather Hole Strout. “We try to wrap our arms around individuals and families who need support,” she adds.

In 2022, the MLK Center helped nearly 6,000 people through its three main programs: hunger prevention and nutrition, early childhood education, and community support and wellness. More than 60% of the clients served were BIPOC (Black, Indigenous or People of Color).

The center has seen an annual increase in clients of 20 to 25% over the past several years. Hole Strout attributes the rise in numbers to ongoing effects from the Covid-19 pandemic, the economic downturn, and climbing housing, food and fuel costs.

“We live in a place that is known for the rich and famous,” she explains. “But what many people don’t realize is 40% of the children in Newport live in poverty.”

To meet the community need, the MLK Center has expanded its hunger relief services. They offer a daily hot breakfast with grab-and-go lunch option, plus sit-down lunches and dinners a few times a week. A grocery delivery program brings healthy food to homebound seniors.

The center also operates the country’s largest food pantry, complemented by a mobile version which visits neighborhoods across the community. People can visit the pantries to do their grocery shopping, all free of charge, and select from meat, eggs, milk, fresh produce, non-perishables, household and personal care items, and even pet food. A dietician is available to help with decision-making, too.

In 2022, the MLK Center distributed 85,000 pounds of produce and provided 657,240 meals. Every morsel was funded by grants from foundations and donations from individuals and corporations, including Enbridge. We recently awarded the center a $7,500 Fueling Futures grant to support its work to fight food insecurity, foster community among those in need, and preserve the dignity of families facing challenging times.

Enbridge also donated three children’s desks built during an employee professional development activity. The desks were included in the MLK Center’s Santa’s Workshop, a room filled with brand-new toys, gifts, and gift cards, all donated by the community. Parents of more than 1,000 children in need visited the workshop last Christmas to select presents for the holidays.

Both Santa’s Workshop and the pantries operate with a client-choice model, Hole Strout notes, meaning that the client gets to choose the items that work best for their family.

“We believe client choice provides more dignity and respect to the people who need to reach out for help,” she explains. “We try to make (receiving help) as dignified as possible.”

The MLK Center’s namesake, Dr. Martin Luther King, Jr., spoke immortal words in his 1964 acceptance speech of the Nobel Peace Prize: “I have the audacity to believe that peoples everywhere can have three meals a day for their bodies, education and culture of their minds, and dignity, equality, and freedom for their spirits,” he said.

His words guide the MLK Center’s work every day. The center has an audacious mission to deliver life-changing programs to people in need, programs that make the very things MLK desired a reality for people in Newport: education and kinship, dignity and access to healthy food every day.

Whether it be families facing unexpected hardships, seniors feeling the effects of the economic downturn, or immigrants to the region seeking a hospitable community, the MLK Center will persevere to make Newport County the kind of place where everyone can thrive.

We focus on reducing the amount of land we disturb and facilitating the return of a biologically diverse landscape and naturally sustainable ecosystems. To do this, we are:

reducing the impact of our operations on the environment through scientific research and implementing best management practicescollaborating with neighbouring companies to reduce the cumulative effects of developmentprogressively reclaiming disturbed lands no longer required to support operationsworking with industry peers and multi-stakeholder organizations on initiatives to conserve and reclaim habitat for birds, mammals, fish and other speciesintegrating traditional knowledge from Indigenous Peoples.

How the land will be used following reclamation and closure is referred to as end land use. This is an important consideration throughout the life cycle of a project, from initial planning through to final reclamation*. This includes considerations such as what species to plant and when and where to plant them. Before developing a new mine or in situ project, our plans outline the life of the project through to reclamation and closure. We update plans regularly throughout the project and incorporate changes, new knowledge and technologies as they are developed.

The Alberta Energy Regulator must authorize reclamation and closure plans for all new projects in Alberta and approve updated plans as they are developed.

Reclamation performance

Mining

Since Suncor began Base Plant operations in 1967, the site has disturbed 22,466 hectares (ha) of land. We have reclaimed approximately 11% of the total land disturbance as of 2021, bringing our cumulative land reclamation total to 2,446 ha. In 2021, we planted approximately 26,370 tree and shrub seedlings in reclamation areas at Base Plant, bringing the total cumulative seedlings planted to more than 9 million. With the mineable resource at Base Plant’s Millennium and North Steepbank Extension mines anticipated to be depleted in the next decade (2030s), we are adding detail to our plan for reclamation and closure of the site, which will include engagement with local Indigenous communities.

The Fort Hills site started production in 2018 and has disturbed 11,157 ha of land. Fort Hills is in the early stage of development with limited reclamation opportunities currently. We plan to progress reclamation as quickly as possible when areas are no longer required for operations.

Syncrude started operation in 1978 and has disturbed 31,455 ha. Since that time, 5,053 ha has been reclaimed, including 104 ha of land certified and returned to the Crown. This represents over 15% of the operation’s total disturbed land. In addition, approximately 12 million tree and shrub seedlings have been planted. In 2021, more than 300 ha were reclaimed, and more than 961,000 seedlings planted. An additional 1,200 ha of reclaimed land are used for a wood bison ranch co-managed with the neighbouring Fort McKay First Nation.

Work has started to look at opportunities to learn from each other and to integrate Suncor and Syncrude approaches to reclamation.

In Situ

Since our Firebag and MacKay River in situ sites began operating in 2004 and 2002 respectively, they have disturbed a cumulative total of 2,031 ha with approximately 68 ha of land that have been permanently reclaimed and are being monitored. We received two reclamation certificates from the Alberta Energy Regulator in 2021 for borrow pits at our Firebag site, bringing the total cumulative number of hectares certified and returned to the Crown at the two projects to 16.5 ha. Following a significant planting program in 2021, we reclaimed another borrow pit to a mosaic of upland and wetland ecosites at Firebag. Seedlings were grown from locally sourced stock and included species of interest to Indigenous communities.

Bison

Syncrude and the Fort McKay First Nation introduced 30 wood bison to a reclaimed area in 1993 to assess the capability of the landscape to support large mammals. Today, approximately 300 bison graze on three reclaimed areas within Syncrude operations, named Beaver Creek Wood Bison Ranch. Two of the areas are predominantly grassland; the third area is a boreal forest, with coniferous and deciduous trees, as well as local shrubs and grasses. The herd provides the opportunity to explore a valuable end land use for the reclaimed landscape, while supporting beneficial partnerships with Indigenous communities. It has also contributed to a genetic preservation project led by scientists from the University of Calgary, the University of Saskatchewan, the Canadian Food Inspection Agency, Parks Canada, the Government of the Northwest Territories and the Calgary Zoo.

Read the Suncor’s full 2022 Report on Sustainability.

The CSRD (Corporate Sustainability Reporting Directive) in the EU reforms and significantly expands the reporting obligations of companies. It extends the reporting requirements and makes it compulsory for big to small and medium-sized enterprises based on a harmonized reporting standard.

The extended scope will mean that from 2024, more than 50,000 European companies will have to disclose detailed ESG (Environmental, Social, and Corporate Governance) information. The EU Council announced the approval of the Corporate Sustainability Reporting Directive on the 28th of November, 2022.

This new directive will have implications beyond the EU. For non-European companies, the requirement to provide a sustainability report applies to all companies generating a net turnover of €150 million in the EU and with at least one subsidiary or branch. These companies must report their ESG impacts, namely environmental, social and governance impacts, as defined in this directive. Not to mention, many companies have existing reporting obligations aside from the CSRD, so it’s important to map these requirements against existing and/or future reporting mechanisms and identify any reporting gaps that may need to be addressed in upcoming disclosures.

Read more on the business implications below, with this article originally published here from our Inogen Alliance Associate in Hungary, denxpert, along with an infographic on how to prepare for CSRD.

What is CSRD?

The CSRD will replace the Non-Financial Reporting Directive (NFRD) after 2024. Under the current working version of the CSRD, a significantly larger number of companies in the EU will be required to report on their non-financial sustainability performance compared to the previous NFRD. Typical sustainability issues to be reported include environmental rights, social rights, human rights, and governance factors.

The CSRD proposal:

extends the scope to all large companies and all companies listed on regulated markets (for example banks and insurance companies)requires the audit (assurance) of reported informationintroduces more detailed reporting requirements according to EU sustainability reporting standards

The European Commission’s proposal for a Corporate Sustainability Reporting Directive (CSRD) forces the adoption of EU sustainability reporting standards. The European Financial Reporting Advisory Group (EFRAG) will be responsible for establishing these European standards, following technical advice from several European agencies. The standards will be tailored to EU policies while building on and contributing to international standardization initiatives.

Who is affected by the CSRD?

The CSRD will apply to all large companies and entities with securities listed on regulated markets in the EU, except micro-enterprises. Large companies are entities that exceed the thresholds for at least two of the following three criteria: 1) balance sheet total: €20 million, 2) net turnover: €40 million, 3) the average number of employees in the financial year: 250.

These companies are also responsible for assessing the information at the level of their subsidiaries.

Large companies are not the only ones required to publish their sustainability reports. The EU proposes that listed small and medium-sized companies could also be affected, but they will be subject to simpler rules than large companies. An opt-out will be possible for SMEs during a transitional period, meaning that they will be exempted from the application of the directive until 2028.

How can I prepare for CSRD compliance?

Different approaches to reporting can be taken depending on whether a company is preparing its first sustainability report or has already communicated its non-financial performance.

If the company is likely subject to the CSRD, it is worthwhile to carry out a gap analysis to show its current state of compliance. The next step is to draw up a plan to address the gaps so that the report is fully compliant with the CSRD by the deadline.

The first steps can be taken based on the information available. A materiality analysis needs to be carried out, stakeholders need to be mapped, channels to learn about sustainability issues need to be developed, corporate governance structures need to be designed to meet expectations, and data collection methods need to be developed. Some companies may have other reporting obligations besides the CSRD, which need to be identified and a timetable set to meet these by the deadline.

Companies that have already reported on their non-financial performance are at an advantage, especially if they have prepared their reports under an international standard. However, it is also essential for these companies to review their reporting practices, considering the expected new requirements.

Continue Reading on the Inogen Alliance Blog

With the CSRD, there are varying levels of applicability and urgency to formally align depending on a variety of factors including company size, subsidiary structure, location, and revenue. So the first step is to gain a better understanding of the disclosure requirements and how they will impact your business.

For help navigating your sustainability reporting and disclosure journey, reach out to Antea Group’s Corporate Sustainability Reporting and Disclosure team today.

By Julie Nash, Ph.D., Ceres Senior Program Director, Food and Forests

The historic pact agreed to in December by world leaders to tackle the devastating impacts of global biodiversity loss highlights the critical role that Indigenous Peoples and local communities play in conserving nature.

Bold in its scope and language, the Kunming-Montreal Global Biodiversity Framework recognizes the crucial role of Indigenous Peoples and local communities in safeguarding biodiversity and the need to adopt human rights-based conservation approaches. This is a result of tireless efforts from the communities that have historically suffered human rights abuses and land use restrictions from strictly protected areas. These groups are proven stewards of effective biodiversity conservation and they must be engaged by companies in creating climate plans that address the escalating risks of nature loss.

Investors recognize that more than half of the world’s GDP ($44 trillion of economic value generation) is either moderately or highly reliant on nature and the services it provides. Further nature loss will cause negative economic repercussions globally. 

To drive greater corporate ambition and action to reduce nature and biodiversity loss, Ceres and its partners recently announced a global investor engagement initiative, Nature Action 100. The investors who are part of the new initiative will engage companies in key sectors that systemically important to reversing nature loss by 2030 – directly contributing to the goals of the Global Biodiversity Framework.

Key to that engagement will be understanding how companies’ nature-based risks mitigation plans involve Indigenous Peoples and local communities. Drawing on our insights from carbon credit projects, including Ceres report, Evaluating the Use of Carbon Credits: Critical questions for financial institutions when engaging with companies, there are certain elements that are shown to make corporate plans more successful. These elements help strengthen participation, improve the distribution of benefits and burdens, enhance cultural and political recognition, and lower business risks.

These key elements build on each other to ensure that these groups are not only considered and respected, but also are active participants in the risk mitigation process:

Upholding rights

As they craft plans for addressing the risks stemming from nature and biodiversity loss, companies need to uphold the rights of Indigenous Peoples and local communities. Respect for the rights of these populations is included in the Framework’s sweeping Targets 1 and Target 3, aimed at bringing the loss of areas of high biodiversity importance close to zero by 2030 and ensuring and enabling that at least 30% of terrestrial, inland water, and coastal and marine areas are effectively conserved and managed. However, the efficacy of the 30×30 target, which was widely disputed by indigenous peoples and human rights organizations, depends on its implementation. Achieving this target by recognizing indigenous territories in Target 3 could pave the way towards a future of effective community and rights-based biodiversity protection.

Safeguarding free, prior, and informed consent

Indigenous Peoples and local communities have the right to free, prior, and informed consent. That means that these groups should be given consent without coercion and with sufficient time to make decisions. They also must have the right to deny any actions at any time in the development of nature-based risks mitigation plans. This concept was acknowledged in Target 21 of the Global Biodiversity Framework, which states that “traditional knowledge, innovations, practices and technologies of Indigenous Peoples and local communities should only be accessed with their free, prior and informed consent, in accordance with national legislation.”

Ensuring active participation

Companies must ensure that Indigenous Peoples and local communities are active participants in the conception, design, and implementation phases of plans for mitigating nature-based risks. Corporate engagement must go beyond simply receiving consent from these groups to involving them in all stages of the development process for plans to be most successful. While relevant to many of the targets, Target 19 about increasing financial resources toward biodiversity conservation specifically alludes to active participation through “enhancing the role of collective actions,” including by Indigenous Peoples and local communities.

Providing for equitable participation

Companies should strive for equitable participation of all community members, including women. Target 23 of the Global Biodiversity Framework directly addresses this concept, highlighting the need to enhance gender equality in the framework’s implementation. Specifically, the target mentions recognizing the equal rights of women and girls and “their full, equitable, meaningful and informed participation and leadership at all levels of action, engagement, policy and decision-making related to biodiversity.”

While it requires dedicated effort by companies, Indigenous Peoples and local communities must be respected, active, and equitable participants as they work to address the biodiversity loss that jeopardizes their own business and to achieve the ambitious aims of the Global Biodiversity Framework. Investors can use these insights to knowledgably engage companies in support of the pact’s just and inclusive biodiversity protection and restoration goals. Additionally, they can join Nature Action 100, which will formally launch in Spring 2023. To learn more about the new initiative, visit natureaction100.org.