Four business solutions to better your workplace ESG strategy.
As the impact of climate change continues to be felt worldwide, it is increasingly clear how significantly nature is intertwined with our economy and well-being. Nature-based climate solutions "leverage nature and the power of healthy ecosystems to protect people, optimize infrastructure and safeguard a stable and biodiverse future." There is a strong and growing business case to be made for the private sector to apply nature-based solutions to their operations "through the use, sustainable management, or mimicking of natural processes that increase resilience, clean our air and water, and reduce disaster risk."
As businesses continue to evolve and level up their sustainability strategy, consider the following:
1. Engage your board and shareholders.
Make the business case for how nature-based initiatives contribute to long-term value creation, risk mitigation, and resilience. For example, when incorporating nature-based risk management strategies into supply chain planning and decision-making processes, it’s important to consider natural hazards such as floods, droughts, storms, wildfires, landslides, and coastal erosion. The more we do to support nature – such as tree planting and forest protection - the less risk businesses are exposed to.
Before communicating to your board, ensure you have established performance indicators to track progress towards your sustainability and nature-based solutions goals. As you gather more information and data on your performance, communicate it to your board and shareholders to ensure they are fully briefed on your strategy and actively engaged in supporting it.
2. Activate suppliers.
Promote responsible stewardship of natural resources along your supply chain by engaging suppliers who implement measures to protect and restore ecosystems, such as reforestation, habitat preservation, or wildlife-friendly farming practices. By prioritizing natural resource stewardship, businesses can ensure the long-term viability of their supply chains and minimize environmental impacts.
3. Increase green space.
Either directly or in partnership with your property landlord, create green spaces around your office by planting native vegetation, installing birdhouses, bee hotels, or green walls, and incorporating natural elements such as ponds or rock gardens. This will improve aesthetics and positively impact wildlife by building habitats and resources for local biodiversity to thrive.
If you are building or renovating, consider whether a green roof installation is possible, can rainwater be harvested, and whether you can introduce more natural lighting and ventilation options. For a business in an urban area prone to flooding, consider whether it is possible to harness natural solutions—like forests—to mitigate flood risks and manage stormwater runoff.
And, of course, Canada Forest Trust Corporation’s favourite solution – NATURE
4. Invest in tree-planting initiatives.
Employers and employees can support their organization's sustainability strategies by engaging in tree-planting initiatives or forestation projects. Encourage employee participation in tree-planting projects by creating workplace groups and campaigns during environmental recognition days (for example, Earth Month and National Forest Week) throughout the year. This fosters a more eco-aware workplace by supporting employees' sense of environmental responsibility, while actively encouraging them to strengthen their environmental and climate knowledge through online learning resources.
Operationalizing nature-based solutions can take time and involve multiple departments across your company. However, businesses will be set up for success by diversifying their sustainability initiatives and investing in services and programs that provide transparent metrics on their impact. Some solutions will require regulatory changes and/or scientific advances; however, the first step is "adopting a business decision-making process that considers the full suite of benefits of nature-based solutions."
