New report and toolkit shows how firms can grow greener

East Midlands Chamber, the University of Derby and Derbyshire Wildlife Trust have teamed up to produce a new report and toolkit, which outlines how firms can achieve growth while supporting nature.

The Better Business for Nature report and toolkit details actions businesses can take to embrace sustainable and biodiverse approaches, while addressing barriers to adoption of nature-based solutions.

Nature-based solutions are actions that protect, manage or restore ecosystems to address societal challenges, benefiting both people and biodiversity.

Examples include ecosystem restoration, green infrastructure, sustainable land management and ethical supply chains.

Benefits to business, as identified in the toolkit, include:

Enhanced site biodiversity – reduce energy costs and help manage climate risks.

Water management – reduce the risk and severity of flooding, especially from heavy rainfall.

Carbon offsetting – strengthen competitiveness and attractiveness to customers, investors and employees.

Employee wellbeing – enhance mental and physical health, creativity and productivity

Brand reputation – add validation and credibility to green credentials

Lucy Robinson, director of resources at East Midlands Chamber, said: “Exploring approaches to business operation that embrace biodiversity or contribute to tackling climate change is essential but few firms have capacity to devote time to detailed research into the wide range of ways that can be achieved and how it can work for their business needs – that’s why this toolkit is so helpful.

“Cutting energy costs, boosting employee wellbeing and attracting customers or investors are among things businesses strive for but clear, to the point, guidance on how engaging with nature-based solutions might be able to help in those areas, or how to implement them effectively, is not always that easy to find.

“Working collaboratively with Derbyshire Wildlife Trust’s consultancy arm Wild Solutions and the University of Derby, we’ve been able to identify opportunities firms can gain, as well as the barriers that might have slowed nature-based solutions adoption and create this useful toolkit.”

Dr Polina Baranova, associate professor of strategy and sustainability at the university’s International Business School, said: “Our research on Green Growth trends in the East Midlands shows only 5% of regional businesses engage regularly in nature recovery, while a staggering 46% have never supported nature at all.

“As part of the ‘Better Business for Nature’ initiative, we wanted to understand why businesses are lacking in adoption of nature-based solutions and why so many are yet to support the local nature they rely upon for resources, wellbeing, cultural and industrial heritage and legacy.

“The toolkit is designed with local businesses, for businesses.

“The overarching ethos is a move away from simply minimising environmental impact towards activity enriching nature and strengthening the relationship between business and the natural environment.

“It is no longer enough just to minimise the impact on nature; we need to start actively investing end enriching nature to ensure sustainability and prosperity of our communities and society at large.”

Hollie Fisher, head of consultancy at Wild Solutions, said: “Many people don’t realise biodiversity and business are intrinsically linked, with an estimated 55% of global GDP dependent on nature and the services it provides.

“Healthy ecosystems are fundamental to the resilience of our communities and our economy, and we all have a critical role to play in tackling the biodiversity and climate crises.”

To view the Better Business for Nature report and toolkit click here.