Tag Archive for: targets

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.

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 next 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

Including ‘Assess’ in your nature strategy: what, why and where?

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BFBI Business Programme Lead Dr Catherine Farrell CIEEM, Trinity College Dublin, writes on the process steps around a Double Materiality Assessment to help guide your nature strategy, the subject of our recent Action Track workshop.

As the birds have started to sing for us every morning again (what a joy!), it’s the right time for our businesses to spring into action. And so, inspired by the stretch in the days, on March 11th the team at Business for Biodiversity Ireland, with help from our friends at Deloitte, launched the first of our three Action Track workshops scheduled for 2025 in Dublin.

Our workshop focused on the key elements of what a Double Materiality Assessment (DMA) is (and isn’t), and why it makes perfect business sense for every organisation to conduct one. Business for Nature has outlined how we can do this through a multi-step, iterative process under the Assess phase of their ACT-D framework –

Reporting frameworks and sectoral guidance: With heads spinning after the recent EU Omnibus proposal announcement, we all agreed at the workshop, that even though reporting obligation ‘goal posts and timeframes may change, it’s in everyone’s best interest to understand a) their impacts on nature, and b) nature’s impacts / on our businesses (which in turn, relate to dependencies, but also risks and opportunities). This ‘inward and outward looking’ approach is what puts the ‘double’ in DMA. Thankfully, there is a growing repository of sectoral guidance and case studies, as well as freely available online tools like ENCORE and IBAT that assist businesses to begin the journey of ‘Assess’ with relative ease. In the workshop we talked through CSRD, TNFD, SBTN and GRI, but we reminded ourselves, at the heart of all these frameworks is rolling up the sleeves to understand our business operations, our extended value chains and who we interact with along the way.

Value chains and stakeholders: In a world of global value chains – where does a value chain start and end? We spent a fruitful and insightful couple of hours working through value chains relevant to our businesses present: it was great to see the emerging pictures on flipcharts, and participate in conversations that really helped our collective understanding to grow – particularly in relation to where our greatest impacts and dependencies may lie. This is a critical part of the DMA process.

Our next two Action Track workshops will build on this work, working through tools like the TNFD LEAP (Locate, Evaluate, Assess and Prepare), to help bring our understanding to light.

A big thank you to our supporters and speakers from Deloitte, Arianna Bunello and Sofia Langs, with  support from Aoife Connaughton and Caitlyn Flanagan, BFBI Head of Operations Iseult Sheehy and Head of Research Dr Emer Ní Dhúill, Sarah Kelly, of National Biodiversity Data Centre, Eadaoin Boyle Tobin, Business in The Community Ireland.

Thanks to our Action Track businesses – Emily Riondato, Kate Farrell and Caoimhe Donnelly, of Coras Iompair Éireann; Ken Lyons, CIE Tours; Aine Kirrane, Dublin Airport Authority, Liam O’Neill (and Sean online) of Cloud Assist; Aoife McGovern, Future Energy Ireland; Ailish Duggan, Irish Rail; Bob Hamilton, Irish Trees; David Finane, KMK; Aebhín Cawley, Scott CawleyLtd; Arek Gdulinski, Shannon Airport and David Lawlor, Watermark.

Sign up for Discovery Track or level up to Action Track in the Members Home to gain access to future workshops.

Strategy: Developing a Nature Ambition Statement

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BFBI Business Programme Lead Dr Catherine Farrell CIEEM, Trinity College Dublin, who presented at our recent Stategy Track workshop in Dublin, recaps on the benefits of developing a Nature Ambition Statement to help guide your nature strategy.

It’s is the perfect time to set targets for the coming year. And so, in the spirit of setting a steady nature-positive pace, the team at Business for Biodiversity Ireland, with help from the Sustainable Futures team at KPMG Ireland, kicked off 2025 with an insightful January workshop for our Strategy Track businesses.

Our focus was on the key elements of what a Nature Ambition Statement is – and why every organisation should have one. BFBI, in partnership with Business for Nature, is hosting the It’s Now for Nature Accelerator programme to empower Irish businesses to develop and publish a credible nature strategy.

Step 1: So, you’ve done your basic value-chain mapping, you’ve identified your main impacts and dependencies, and you’ve found that biodiversity is a material topic for your business to include in annual reporting. In the process, you’ve highlighted key areas to focus on, and you have a sense of what you can achieve. Maybe you also discovered areas that your employees or customers want you to focus on. But you need a North Star to guide your next steps. That is what your Nature Ambition Statement is.

There are some good examples available to learn from, such as the ambition statement developed by Foresight Group, and Business for Nature has provided some good guidance around elements that should be included – such as, how your ambition aligns with the Global Biodiversity Framework targets and timelines for delivery. 

Step 2: The ambition, set out in Step 1, can only be achieved if it is supported by setting targets that can be realised. We need to be thinking about targets that are SMART – specific, measurable, achievable, relevant and time-bound; being clear on what is achievable and within what timeframes. This will be the focus of our next two Strategy Track business workshops coming up later in the year.

In a nutshell, a Nature Ambition Statement sets the coordinates for where your business needs to, and importantly, wants to, go for nature. It can be used to help guide the target-setting process within the company but it also sends a clear, action-oriented message to your customers and key stakeholders. The process itself – agreeing and refining the business’ nature ambition – could also be described as the first step in business transformation.

The next step is getting clear on what the business can do, and what it is ready to commit to, towards a nature-positive future. More on this to come in our next workshop in April.

Our Strategy Track includes pilot BFBI businesses who have been progressing their organisation’s Nature Strategy and sharing feedback along the way, including An Post, Bank of Ireland, Bus Eireann, Cairn Homes, ESB Networks, Gas Networks Ireland, Glenveagh Properties, KPMG Ireland’s Sustainable Futures, SAP Landscapes and our associates at Business in The Community Ireland, Biodiversity Data Centre and Trinity College Dublin.

  • To take the first step on the BFBI 4-Track Nature Strategy Accelerator Programme, your organisation can sign up for our free Discovery Track. Once you have a good handle on what’s needed for your business to begin to take action, you can sign-up to progress along the paid Action Track, then the next step will be the Strategy Track.

Read more here – How It All Works.

COP15, why is it important for business in Ireland?

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COP15 in under way in Montreal, Canada and Ireland has sent a delegation to attend these negotiations that will hopefully deliver a plan to address global biodiversity loss.

The talks are centred around the Post 2020 Global Biodiversity Framework (GBF) which consists of 21 targets that will not only support the delivery of the Sustainable Development Goals (SDGs) but will serve to halt and reverse biodiversity loss by 2030.

We have eight years to halt the destruction of our natural world or it might reach a state where is becomes beyond repair. So why is COP15 and the GBF important for business in Ireland?

Of the 21 GBF targets, the business community should be tuned into two specifically:


Target 15: All businesses (public and private, large, medium and small) assess and report on their dependencies and impacts on biodiversity, from local to global, and progressively reduce negative impacts, by at least half and increase positive impacts, reducing biodiversity-related risks to businesses and moving towards the full sustainability of extraction and production practices, sourcing and supply chains, and use and disposal.

This essentially means that all Irish businesses, from your local hairdresser to global multinationals operating within the state will now have to understand how their actions and activities impact on nature. How do they contribute to pollution? How are they using land? Does the business contribute to or facilitate the introduction of invasive species? What is their contribution to climate change? Does the business drive the over-exploitation of natural resources?

They will also have to appreciate how their business depends on the natural world, and how the degradation of nature may pose risks to their ability to continue operating. Furthermore, Irish businesses will be expected to develop a strategy and action plan to reduce their negative impacts by half and start the healing process by investing in nature restoration.

Target 18: Redirect, repurpose, reform or eliminate incentives harmful for biodiversity, in a just and equitable way, reducing them by at least US$500billion per year, including all of the most harmful subsidies, and ensure that incentives, including public and private economic and regulatory incentives, are either positive or neutral for biodiversity.

In 2019, the Irish Government spent €4.1bn on environmentally damaging subsidies (Lee, 2019). These included subsidising the use of fossil fuels to the tune of €2.5bn, and €1.5bn to support agricultural activities that could cause significant environmental damage.

For example, rather than providing low income households with fossil fuel subsidies, that money would be much better spent retrofitting older properties to become more energy efficient. Most of the environmentally damaging subsidies are disguised as zero or low tax rates which incentivise the use of a potentially damaging commodity like chemical fertilisers.

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