This past week, organized events were held across New York City for Climate Week and the United Nation’s Climate Action Summit. These events were designed to inspire business, government, and nonprofit leaders to accelerate the transition to a nature-positive future.
Prominent Discussion Themes at ClimateWeek NYC 2023
In general, the following discussion themes were prominent:
- The transition to a more equitable, low-carbon economy across industries the like: the food industry, financial services, and the public sector
- Growing concerns coming with insufficient support on agriculture and malnutrition. Several interesting discussions covered the themes of food sovereignty, or the adoption of sustainable agricultural standards
- The growing cracks in multilateral collaborative spaces – the ongoing expansion of the BRICS space, for example – are a source of concern
Perspectives From Ksapa
Something struck across these discussions to explore global crisis and coordination on climate. Compared to most discussions previously focused on climate and controversial Net Zero solutions, nature and biodiversity preservation has suddenly popped up all over discussions. There have been lots of conversations about biodiversity credits, standards, and the role of nature in net zero.
- The biggest announcement was Taskforce on Nature-related Financial Disclosures (TNFD) final framework, endorsed by many of our clients at Ksapa, which aims to help companies, investors, and all of us better identify and call out the material and economic impacts of nature on business and the global economy
- Expectations for corporate involvement in addressing their nature impacts is rising rapidly, due to both stakeholder expectations but also frameworks like Science Based Targets Network’s SBTs for nature and regulation like the new CSRD in the EU.
- Beyond climate, and given the regulatory, financial, and other material risks, corporate boards must increasingly engage in oversight of nature issues as well. For companies headquartered in the EU, and US companies doing business with the EU, EU CSRD reporting standard ESRS-E4 is clearly listing biodiversity and ecosystems as a material issue for oversight by boards, alongside climate change (ESRS E1)
Ksapa is working with corporate clients to engage in this work in order to implement strategic changes that will translate into operational change. Ksapa has experience with the system approaches that will be effective for corporate decision makers. Our team of professionals work across geographies and industry sectors to engage boards of directors and executive managements. These engagements work to effectively transition companies through the advancing paradigms of climate change.
For more information on how Ksapa can help your company, please contact us!