BSR Insight | Managing Biodiversity in the Extractives Sector
A new report by the Natural Value Initiative details the potential risks facing the extractives industry as a result of its reliance on natural resources.
The report—conducted on behalf of several investors and based on an investigation of 30 oil, gas, and mining companies—concludes that although companies are working to address biodiversity and ecosystem services, they are not taking a comprehensive approach to managing the issue. According to the report, a comprehensive approach includes conducting risk and opportunity evaluations at the corporate and site levels, developing management and monitoring systems, making strong public commitments, and recognizing the links between social and environmental issues and biodiversity and ecosystem services.
More specifically, this report:
- Explores the extractives sector’s impacts and dependencies on biodiversity and ecosystem services, as well as the implications for investors
- Benchmarks company performance and identifies areas of strength and weakness
- Provides recommendations for improvement and next steps for investors, government, and the industry
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