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 need for in-depth understanding of our business 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 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.
But, exploring the idea of targets unlocks a whole suite of ensuant questions – should our targets be based on actions or outcomes; resources applied or timeline to get there; and which part of the value chain should we focus on?
Our advice? Stop, take a deep breath and focus on one impact to start with. What could we do to enhance biodiversity 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 / drivers of biodiversity loss at source?
Once we start exploring and collaborating, the innovation begins. And innovation is what drives sustainable business forward, to future proof and avoid nature related risk.
The challenge then lies in monitoring and reporting: rather than re-invent wheels take a practical approach and measure what matters, where; and build from there. In our workshop, 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 help to 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
