Strategy Track Workshop 3: bringing it all together

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Following on from earlier Strategy Track workshops, where we focused on the key elements of what a Nature Ambition Statement is (and why every organisation should have one!) and how to set SMART nature targets, BFBI Business Programme Lead Dr Catherine Farrell CIEEM, Trinity College Dublin, writes on the final in-person workshop of 2025 for our businesses in this track where we outlined how to bring all the different components together.

In our first workshop of the year, we outlined the business need for a deep understanding of your impacts and dependencies on nature, and importantly, where these occur along the business value chain. Armed with insights to our value chain and following the steady guidance of the the ACT-D framework along with resources such as the WWF Corporate Nature Targets publication, and the Science Based Targets Network framework (with lots of great resources / videos), we began to think about targets.

Exploring the idea of targets unlocks a whole suite of ensuant questions – should they be targets based on actions or outcomes, resources applied or timeline to get there, and which part of the value chain should we focus on.

Stop, take a deep breath and focus on one impact to start with. What could we do to enhance the number of trees at our direct operations? Could we then look further and think about procurement of raw materials – could we set a target to work with our suppliers and collaborate to reduce impacts at source?

Once you start exploring and collaborating, the innovation begins. The challenge then lies in monitoring and reporting: rather than re-invent wheels take a practical approach and measure what you can, where to start and build from there. You don’t want to miss any of those good learnings! We explored natural capital accounting methods to build information – showing how knowledge of the stocks and flows help inform decision making and importantly transition planning. Checking how we communicate these targets relative to our Nature Ambition Statement will keep us on course.

The team at Business for Biodiversity Ireland extend their gratitude to the Sustainable Futures team at KPMG; thanks also to our hosts Bank Of Ireland, for looking after us at their Baggot Street Head Office. As previous, we followed the guidance for the accelerator programme for businesses set out by Business for Nature under the Commit phase of their ACT-D framework.

Join the Nature Strategy Accelerator Programme for 2026! Sign up on our site or contact our Business Development Manager Dr Maria Fitzpatrick to discuss the options for your business: manager@businessforbiodiversity.ie

Sign up today for our next Discovery Track webinar

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What are your business’s impacts and dependencies on nature? What are the potential risks in your supply chain from nature loss and climate issues? The third Business For Biodiversity Ireland Discovery Track webinar of 2025 is coming on Wednesday, September 24, and will address how to tackle these questions when it comes to your business decisions.

Discovery webinars are free to all BFBI subscribers – sign up today to register for this and future Discovery webinars to learn more about the crucial issues facing Irish businesses in the evolving sustainability landscape. The Discovery Track, the first step on our 4-Track Nature Strategy Accelerator Programme, is free to join for guidance on the evolving frameworks and stategy you need to ensure business resilience and longevity.

This Teams webinar (from 9.30am to 10.20am) will cover how the ACT-D Framework (Assess, Commit, Transform & Disclose) is a vital tool for assessing your business’s impacts and dependencies on nature, including upstream and downstream value chain relationships. The framework is aligned with current global best-practice from Business for Nature, Capitals Coalition, WBCSD, TNFD, Science Based Targets  Network, WEF and WWF.

Register here (and find past and future Discovery webinars and curated resources in the members menu): Join the Discovery Track

‘Quick fix’ for companies on sustainability reporting

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The European Commission has adopted targeted “quick fix” amendments to the first set of European Sustainability Reporting Standards (ESRS). This is aimed at reducing the burden and increasing certainty for companies that had to start reporting for financial year 2024 (commonly referred to as “wave one” companies).

According to the current ESRS, companies reporting on financial year 2024 can omit information on, amongst other things, the anticipated financial effects of certain sustainability‑related risks. The “quick fix” amendment, which applies from financial year 2025, will allow them to omit that same information for financial years 2025 and 2026.

For financial years 2025 and 2026, wave one companies with more than 750 employees will benefit from most of the same phase-in provisions that currently apply to companies with up to 750 employees. A summary of the modifications can be found here.

Wave one companies were not captured by the “stop‑the‑clock” Directive, which delayed sustainability reporting requirements for companies that report from financial year 2025 and 2026 (so‑called “wave two” and “wave three” companies) by two years. This Directive was part of the Omnibus I package adopted by the Commission in February 2025.

The Commission is working on a broader revision of the ESRS, with the aim of substantially reducing the number of data requirements, clarifying provisions deemed unclear and improving consistency with other pieces of legislation. It is expected that this review will be completed by financial year 2027.

Despite the ongoing delays and simplifications at EU level, assessing and reporting on your organisation’s nature impacts is still a vital and urgent part of any organisation’s long-term strategy – ignoring your dependencies and impacts on nature means ignoring the potential risks, both financial and reputational, to your business as well as the physical risks that damaging and degrading nature does to our planet, society and to your business’s resilience and longevity.

You can be a leader in your field by tackling these issues now – we’ll show you where to start. Sign up to our Nature Strategy Accelerator Programme today – join the Discovery Track for free to learn more – or contact our Business Development Manager Dr Maria Fitzpatrick for a chat on how to get started on a solid Nature Strategy for your organisation. We will be accepting new businesses to our Action and Strategy Tracks now ahead of our 2026 programme of workshops, peer learning and expert one-on-one guidance – email manager@businessforbiodiversity.ie

Good news! BFBI 2026 Track Memberships Now Open

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We are thrilled to announce the opening of memberships for our 2026 Action and Strategy Accelerator Tracks!

Starting in the summer of 2025, we will welcome new members to these cohorts of Irish businesses who are advancing along our Nature Strategy Accelerator Programme – providing a unique opportunity to evaluate your organisation’s readiness for a Double Materiality Assessment (on the Action Track) or to level up to craft a comprehensive Nature Strategy (Strategy Track).

New members will engage in a personalised assessment meeting with the BFBI team, receiving tailored guidance to bridge knowledge gaps and initiate impactful actions within your business.

In 2026, each track will feature three immersive full-day workshops, in collaboration with Deloitte‘s WorldClimate (Action) & KPMG Sustainable Futures (Strategy) Teams, and further personalised one-on-one calls as needed. Together, we’ll tackle key milestones, allowing each business to progress at a pace that aligns with their unique capacity and timelines.

BFBI is supported by National Parks & Wildlife Services. Find out more about the various Nature Strategy Accelerator tracks on our How It All Works page and get in touch with our Business Development Manager Dr Maria Fitzpatrick to discuss the options for your business, including grants aligned with our fees – email today manager@businessforbiodiversity.ie

Assess: How your business interfaces with nature

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BFBI Business Programme Lead Dr Catherine Farrell CIEEM, Trinity College Dublin, writes on the process steps around undertaking a Double Materiality Assessment (DMA) to help guide your nature strategy: this article focuses on the ways to understand how businesses interface with nature, highlighting the data needs but also the language of a DMA.

Following from our inspiring and interactive workshop on March 10th (read about it here), alongside colleagues from Deloitte, the Business for Biodiversity Ireland team led the second of our Action Track workshop series on May 20th. While our initial workshop focused on the key elements of what a Double Materiality Assessment (DMA) is (and/or isn’t), especially the value chain, this time we focused on how we can map and track the interface of business with nature.

This involves homing in on ‘the where’ part of the DMA process. In essence, this means gathering your organisation’s location data like maps, and – in tandem – figuring out the other types of data available, what they measure and why. Then its time to focus on how we might use data (which may be freely available as well as company-held) to inform our DMA. Our colleagues from Deloitte shared their DMA journey, highlighting how tools like the TNFD LEAP (Locate, Evaluate, Assess and Prepare), can help bring understanding of our business interfaces with nature to light.

In this article we focus more on data and the language of data and DMA (beware of the acronyms!):

Data: we hear a lot about data these days, but when we’re trying to understand our business impacts and dependencies (how we rely on nature) we really need to focus on data relating to aspects of nature referenced in the nature-related reporting frameworks like CSRD, TNFD, SBTN and GRI.

We can start by breaking these into –

  • Locational data (a map of where we operate – note, start with one part of your value chain and get the hang of it!)
  • What types of habitats or ecosystems are present in those places (the basic type and their extent)
  • What our impact is on these specific areas of ecosystem (how we influence their condition), and
  • How we rely on them (what we need from these ecosystems as inputs, aka ecosystem services to our operations) or impact them.

This helps us Locate, Evaluate and Assess our impacts, dependencies, risks and opportunities, and then Prepare to report (think LEAP). We can do this by using available data on habitats, but -now, a health warning – in Ireland habitat data is quite limited. With some ecological input to help, however, we can gather up what is available, in a useful way.

Language: ecological and nature lingo is nuanced but not beyond our reach. It’s helpful to have someone working with us that can communicate these nuances in a clear, simple way. During our workshop we discovered that acronyms and strange ‘eco’ languages can be off putting initially, but once we get into the flow, we find what we need to know.

Many thanks to Aoife Connaughton and Deloitte for collaborating on this workshop, National Biodiversity Data Centre’s Sarah Kelly, and all our Action Track businesses for participating in our Nature Strategy Accelerator Programme, including CIE and CIE Tours, Cloud Assist, Irish Rail, Irish Trees, Future Energy Ireland, KMK, Scott Cawley Ltd, Shannon Airport, Trinity College Dublin and Watermark Coffee.

Dr Maria Fitzpatrick is our new Business Development Manager

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Business for Biodiversity Ireland is delighted to announce the newest member of our team, Dr Maria Fitzpatrick, who has taken on the role of Business Development Manager, working with Irish businesses to ensure they get the most from their membership of BFBI.

Biodiversity & Sustainability Consultant Maria has a PhD in Freshwater Ecology and worked as an Environmental Consultant before moving to Queen Mary University of London and then on to the Royal Botanic Gardens, Kew to build and head the Research Funding Services for Kew Science.

She is Circular Economy-trained with a Corporate Sustainability Reporting Directive professional qualification. Her background blends scientific expertise with project and relationship management skills, and a keen understanding of the environmental challenges our world is facing to build compelling cases for change. Maria also sits on the steering committee for Natural Capital Ireland.

Maria shared:

“I am excited to be working with the brilliant team at Business For Biodiversity Ireland to help shape and drive forward our 2025 business development strategy. This will be working to bring businesses on board with our Nature Strategy Accelerator Programme, supporting businesses in the transition to achieving a thriving nature-positive economy here in Ireland and beyond.”

You can contact Maria with queries at manager@businessforbiodiversity.ie

Strategy: Setting SMART nature targets for your business

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Following from our kick-off Strategy Track workshop in January where we focused on the key elements of what a Nature Ambition Statement is (and why every organisation should have one!), BFBI Business Programme Lead Dr Catherine Farrell CIEEM, Trinity College Dublin, writes on the most recent workshop for our businesses on this track – where we outlined how to set SMART nature targets to underpin businesses’ nature strategies.

In our first workshop, we outlined the business need for a deep understanding of impacts and dependencies on nature, and importantly, where these occur along the business value chain. Focusing on our greatest impacts and dependencies on nature is an effective first step towards setting targets to both reduce the impacts, and – critically – to reduce potential financial risks and leverage opportunities at the same time. Risks arise when we are dependent on ecosystem services (also referred to as ‘nature’s contributions to people‘), but the continued flow of those services (perhaps from upstream in our value chain, as in the provision of raw materials), might well be reduced due to an affect beyond our control (think changing weather patterns on crops, for example).

Specific, Measurable, Attainable, Relevant and Time-bound nature targets
And so, armed with this understanding of our value chains, we worked through the process of setting SMART (Specific, Measurable, Attainable, Relevant and Time-bound) nature targets for the businesses present at our workshop. We covered some key elements such as: targets can be generic, broad, and/or highly specific; they can be action- or outcome-focused, short or long-term, but they must always relate to the value chain. Importantly, if we are to set SMART targets, they must be resourced and matched by indicators to track progress. Thankfully, there is a range of useful guidance out there, such as the WWF Corporate Nature Targets publication, and the Science-Based Targets Network framework (with lots of great resources and videos).

As previously, we followed the guidance for the accelerator programme for businesses as set out by Business for Nature under the Commit phase of their ACT-D framework.

Setting targets may seem daunting, but if we focus on one aspect of our value chain to start with, and work through the process, then this builds familiarity and confidence in the process. At our next workshop for this track later in the year, we will focus on how to monitor, evaluate and disclose progress towards our nature targets, and how they link to other sustainability targets.

The team at Business for Biodiversity Ireland wish to extend our gratitude to Thomas Ball and Ellen Cunningham, of the KPMG Ireland Sustainable Futures Nature & Land Use Unit for supporting us in delivering this workshop. Thanks also to our host Geoff Hamilton and ESB for looking after us at their Fitzwilliam Square Head Office in Dublin. Many thanks to our associates in the National Biodiversity Data Centre and Business in the Community Ireland, and to all the businesses in our Strategy Track including An Post, ESB, Bank of Ireland,  Bus Éireann, Cairn Homes, Glenveagh Properties, Gas Networks Ireland and SAP Landscapes for doing this important work with us.

Group of people in a boardroom, some kneeling to fit in the frame

What’s the Business Outlook for Nature in 2025?

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2024 was an eventful year for those of us working in advancing nature action at both national and global level.

The much-contested  EU Nature Restoration Law  was brought in – and the Green Party, which was in Government at the time, with Ireland’s first Minister for Nature Malcolm Noonan, were instrumental in getting it over the line. However, there remains political pushback at home and abroad as we enter 2025 and environmental concerns slip further down the agenda in the face of the cost-of-living crisis, political turmoil and global conflict. 

Extreme weather incidents are putting these concerns squarely back on the agenda for the private sector as we start 2025, particularly in the area of insurance and financial investments. Fears are being raised in the food sector due to the climate and nature crises, and we will likely see tourism, hospitality and retail affected globally, as well as a rise in public health concerns. The latest  WEF Global Risks Report  rates several environment-related risks in prominent positions in their Top 10 for a 10-year analysis, with the risk from biodiversity loss and ecosystem collapse ranked in second place, after extreme weather events. The short-term (2 years) risk analysis ranks extreme weather events in second place, however, the risk from biodiversity loss and ecosystem collapse is not as prominent yet on the short-term list of worries for polled business leaders. This is surprising given that it is now widely understood that biodiverse ecosystems create resilient landscapes and enhance carbon sequestration, lessening the effects of climate change such as extreme weather events. (The Economics of Biodiversity aka the Dasgupta Review, for the UK Treasury in 2021, warns we must start accounting for nature’s contributions in national accounts to inform decision-making for future resilience).

We welcome the announcement of a new Minister of State for Nature, Heritage & Biodiversity, Christopher O’Sullivan TD, at the Department of Housing, Local Government and Heritage, and hope concrete and swift action on nature loss and degradation will be set in motion once Ireland’s National Restoration Plan, being developed by the  National Parks & Wildlife Service  in conjunction with relevant stakeholders, is finalised. The new  Programme for Government  pledges to keep the Infrastructure, Nature & Climate Fund, instigated by the previous government, with plans to pursue more funding at EU level, and delivery of Ireland’s  National Biodiversity Action Plan 2023-2030,  which sees a whole-of-government, whole-of-society approach. We look forward to continuing to work with a number of government departments in developing and implementing actions to support businesses in achieving this. 

Despite an uneven progress following successive global summits on climate and nature, BFBI agrees with recent commentary by Business for Nature’s CEO Eva Zabey that interest levels and discussions on biodiversity within the business and policy world are certainly “maturing and multiplying”. “Tackling complex issues such as biodiversity loss and its interconnections with climate and social equity takes time, where global discussions remain key, even if they don’t always result in the urgent progress we are collectively striving for.

“This requires all of us to act with both urgency and perseverance. We take heart in the progress made over the past 12 months by our fantastic community and partners, and by the growing number of businesses and policymakers committed to building a nature-positive future for all by 2030.”

Zabey lists some key highlights from the past year, including the introduction of the EU’s Corporate Sustainability Reporting Directive (CSRD) in effect for 11,000 companies in 2025.

“Over 500 companies have committed to disclosing their nature-related issues to investors using the TNFD recommendations – a 57% increase since the beginning of the year, 30 companies have published dedicated nature strategies through It’s Now for Nature and first mover companies publicly adopted science-based targets for nature. These are encouraging signals of change.”

However voluntary action by businesses is far from the norm, and many organisations still do not understand their impacts and dependencies on nature. There is confusion among Irish companies on the scope of the new reporting rules, with a number of our larger legal firms seeking clarification from the Government on how the legislation is to be applied in Ireland.

It is essential that the new Government and the business sector show leadership in making this the year to accelerate our transition to Nature Positive rather than risk playing catch-up – if you are new to it all, start here on our free Discovery Track with access to the evolving guidance and resources coming your way in 2025, including our free webinar series.

Those keen to make the commitment to put prior learning and resources into action now can join our Nature Strategy Accelerator Programme’s paid Action Track for tailored help to get your reporting on track, and be ready to make real positive impact for your business and for nature. We’ll help you to advance to our Strategy Track and Evolution Track, through our Roadmap to Nature Positive (in alignment with the global Now for Nature Strategy), to maintain a steady path to long-term sustainability.

Get on track HERE.

 

Our next members webinar is coming up this November

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On November 14, we’ll host a Lunch and Learn webinar to get recent and joining members up to speed on how and where your business interacts with nature and biodiversity.

  • What risks are businesses facing in this nature crisis?
  • How do we address these risks?
  • How can the nature-positive approach bring opportunities to your business?
  • How can we comply with the CSRD?

Join Lucy Gaffney and our team for this Business & Biodiversity 101 session – sign up to get on the Discovery Track, a free first step to the BFBI Nature Strategy Accelerator Programme – all Business For Biodiversity Ireland members can register for the webinar once logged into the Members Section of our website.

Broaden your understanding of your business relationship with nature and get to grips with where to start on credible nature action and legislative compliance for your organisation.

Log in to register HERE.

The BFBI Nature Strategy Accelerator Programme

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Business For Biodiversity Ireland (BFBI) has released our Nature Strategy Accelerator Programme to guide Irish businesses to develop a strong, credible strategy to identify their impacts and dependencies on nature and ensure compliance with the new EU legislation regarding environmental reporting.  

The Nature Strategy Accelerator Programme has been developed following a series of insightful sessions with the European Business and Biodiversity Platform and other national platforms, and reflects a model of best practice in line with current international developments, tailored to the Irish context and aligned with grants available in Ireland through Local Enterprise Offices, Enterprise Ireland, Údarás or the IDA.

All new and existing Business For Biodiversity Ireland members can avail of the introductory Discovery Track for free, with access to guidance and webinars to bring them up to speed on their relationship to biodiversity.

The Discovery Track offers:

  • Three biodiversity-focused training webinars throughout the year
  • Guidance on how to start your nature-positive journey
  • Curated videos and online training resources to help you on your way
  • A quarterly newsletter with details of upcoming biodiversity-focused events
  • Updates on EU regulations such as the Corporate Sustainability Reporting Directive (CSRD).

BFBI Chair of the Board Susan Rossney, Sustainability Advocacy Manager of Chartered Accountants Ireland, urged all businesses to join up and start their journey, as time is of the essesnce to ensure a sustainable ‘Nature Positive’ future for the Irish economy. She said: “A whole-of-society approach is needed to deliver a nature-positive economy – an economy that results in increasing levels of nature over time and that no longer incentivises the overexploitation of nature. Nature provides a third of the climate mitigation potential we need to achieve our climate goals, so delivering a nature-positive economy is imperative for reaching our climate targets.

“A nature-positive economy is similarly vital to our long-term economic resilience: 55% of the world’s GDP is moderately or highly dependent on nature. Despite this, many businesses are unaware of their dependence on and impact on biodiversity, a risk made all the greater now that larger companies are legally bound to disclose information on their environmental impact via the CSRD.

“As the pivotal UN Biodiversity Conference ‘COP16’ takes place to address the global biodiversity crisis, and as the World Wildlife Foundation’s Living Planet Report tells us of 73% average decline in wildlife populations over the last 50 years, it is a fitting time for Business for Biodiversity Ireland to launch our Nature Strategy Accelerator Programme. With a mandate under the 4th National Biodiversity Action Plan, BFBI has built a powerful profile advocating for nature-positive business. This programme will empower businesses to deliver positive outcomes for people, planet and nature.”

Explore the benefits of our Discovery Track: How it all works 

All members are invited to join the Discovery Track series of webinars.

Register now to join the next webinar on March 26, 2025, 9.30.

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