95% of major companies analysed do not assess the impact of their operations on nature, according to research by the World Benchmarking Alliance.
The World Benchmarking Alliance (WBA) updated Nature Benchmark also found that less than 1% of the major companies analysed assessed their dependencies on nature.
Using data and performance from over 800 major companies between 2022 and 2024, the Nature Benchmark found that although some companies are helping to halt and reverse biodiversity loss, the majority do not yet fully understand how they impact and depend on nature.
The WBA’s Nature Benchmark assessed how more than 800 major companies, such as Unilever, Kering, Newmont and Nestlé, across varied sectors including household products, apparel, plastics, and food are impacting nature and protecting and restoring ecosystems.
The research also found that there is a risk of greenwashing on plastic, as companies “fail to back up ambition with action”.
43% of companies provided qualitative evidence of plastic reduction, such as one-off programmes or initiatives to reduce the plastic in a specific product. However, only 19% offered quantitative metrics to support this data.
From their own operations to their value chains, they need to prioritise halting and reversing biodiversity loss.
7% had quantitative, time-bound targets to reduce plastic use and waste. The WBA said companies must significantly step up their actions with time-bound targets if they are to provide a “meaningful positive impact”.
The WBA said companies need “clear and adept sustainability leadership”. The Benchmark found while 66% of companies assigned sustainability oversight to their boards, only 2% of companies demonstrated that their boards have the relevant expertise on topics like biodiversity or climate.
To enhance impact, companies should develop a sustainability strategy that covers nature, supported by “concrete high-level responsibility and accountability” for delivery, the WBA said.
Jenni Black, Nature Transformation Lead at the World Benchmarking Alliance, commented: “The Global Biodiversity Framework (GBF), a landmark agreement at COP15, recognises the private sector has a role to play if we hope to preserve life on Earth.
“But our research shows that the vast majority of large companies continue to take nature for granted, despite the fact a healthy planet underpins a healthy economy.
“Two years after the GBF was agreed, it’s imperative for companies to understand and act on their impacts on nature. From their own operations to their value chains, they need to prioritise halting and reversing biodiversity loss.
“Meanwhile, governments, investors and civil society should be holding the private sector accountable, to ensure that all large and transnational companies regularly monitor, assess, and disclose their risks, dependencies and impacts on biodiversity.”
