Eight major Swedish companies from four industries are joining forces in the project "Business Valuation Method for Biodiversity". Behind this unique initiative and collaboration are Boliden, Cementa, LKAB, SCA, Skellefteå Kraft, Specialfastigheter, Svenska Kraftnät, Vattenfall and Ecogain.
The assignment is to develop a tool to assess how biodiversity is affected by land use. The goal is for companies to be able to credibly quantify and communicate both their negative and positive impact on biodiversity in land use or land use change. One expected effect is that permit processes for major social projects will be more predictable, both for authorities, stakeholders and companies, and that the follow-up of measures taken will be simplified.
The strength lies in industries coming together around a common need to measure biodiversity and find synergies for both the environment and business
Rolf Lindgren, Group Manager Environmental Function at Skellefteå Kraft.
Internationally, there are already several examples of valuation methods, but as yet there is no global standard. Examples include the UK Biodiversity Metrics and various valuation models used in the US and Germany.
The project partners are companies that use a lot of land in their operations in different ways. They have all therefore identified biodiversity as an essential issue in their sustainability work and in their business. The idea for the project emerged during the companies' joint meetings in Business@Biodiversity Sweden, an environmental network for large companies.
We see great potential in finding a practical method for valuing biodiversity. Finding a common approach that works in different industries will be a strength in the dialogue with our stakeholders.
Helle Herk Hansen, Environmental Manager at Vattenfall.
The tool will facilitate the integration of biodiversity into companies' business models and can improve target setting and monitoring. Biodiversity actions will also be more effective, as the valuation tool will allow companies to focus where the greatest environmental benefits can be achieved.
We think it is important to be able to measure biological values as well, to be able to compare and estimate how we are progressing.
Linda Bjurholt, Environmental Manager at LKAB.
It is a tremendous strength that so many companies of such breadth are coming together to launch this initiative. All participants are also humbled by the challenge of finding the right balance between scientific accuracy and applicability. Biodiversity is complex.
Anders Enetjärn, CEO of Ecogain.
He also emphasizes that an important part of the project is to anchor the method widely. A reference group will be set up with both national and international representatives from authorities, academia and other interest groups. The tool that is developed will be open to all community builders to use.
This is a very exciting initiative. If it can stimulate increased ambition and companies to set clear targets and strategies also for biodiversity, as has been done for climate work, it will help to further strengthen the leadership role of business.
Johan Kuylenstierna, Board Member of Ecogain.
About the project
The Business Valuation of Biodiversity project has been initiated by Ecogain and the eight large companies that are now becoming partners in the project. The following companies have already joined: Boliden, LKAB, Cementa, Svenska Kraftnät, Specialfastigheter, Skellefteå Kraft, SCA and Vattenfall. All are members of the business network Business@Biodiversity Sweden, the project is open to welcome new project partners. Phase 1.0 will include 'Land use change on land'. Project start in August 2020. Later phases will tentatively address aquatic environments and agri-businesses.
Read the article with an interview by Anders Enetjärn in Dagens Industri:
