What are the five steps we can take to Build Back Biodiversity?
Our Wild Isles from Space

What are the five steps we can take to Build Back Biodiversity?

'Biodiversity' refers to the variety of living species on Earth, including animals, bacteria, the essential ecosystem, fungi, and plants, that makes the world go round – and it's severely declining. 


'The food we eat, the water we drink, the air we breathe - it all comes from nature.'


World Biodiversity Day (22nd May) presents a significant opportunity for all of us to reflect on the current state of the planet's plants and species diversity, the impacts of its decline, and what we can do to reverse the trend. Since 2000, each World Biodiversity Day has been supported with a theme. This year is #BuildBackBiodiversity, emphasising the critical steps we can all take together – from individuals, communities, businesses, and government – to play our parts in protecting and restoring biodiversity.


As the world faces increasing environmental degradation due to climate change, deforestation, habitat destruction, invasive species, overexploitation, and pollution, it has become critical to prioritise the protection and restoration of biodiversity, both for our planet and for us, the people living on it.


Though restoring biodiversity might conjure up images of lush, green rainforests (the world's oldest ecosystem) or thriving tropical reef life, we must remember to look closer to home when considering solutions to the problem because the UK is no exception to the staggering loss of nature. For example:

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The UK is one of the most nature-depleted countries in the world.

  1. The UK is one of the most nature-depleted countries in the world, according to the Natural History Museum Biodiversity Intactness Index (BII), with just half (53%) of its biodiversity remaining.
  2. Since the 1930s, the UK has lost 97% of its wildflower meadows, drastically reducing pollinators such as bees and butterflies. 
  3. Nearly 60% of UK species are in decline and one in seven face extinction. 
  4. In the past 50 years, the UK has lost more than 40% of its native species.
  5. This biodiversity loss is mirrored worldwide and is a global problem. According to the Natural History Museum BII, 75% of biodiversity remains on the whole planet, below the 90% needed for life on Earth to survive. 

All life on Earth is interlinked, so any decline's impact is far-reaching. Moreover, its impact is being felt by people, communities, and businesses alike.


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Shifting Baseline Syndrome

Why don't we notice?

It's due to a phenomenon known as 'Shifting Baseline Syndrome'. Each new generation perceives the current state as 'normal' or 'natural'. So over time, we don't notice the decline in our environment. As a result, we need to gain perspective on what has been lost. 


For example, in my lifetime (over 40 years), the global population nearly doubled from 4 billion to 8 billion, carbon dioxide in the atmosphere increased by a quarter, and the remaining wilderness has decreased by over a half. Yet, alarming as those statistics are, my point of reference is nowhere near as extreme as what Sir. David Attenborough has witnessed over the last 97 years, which undoubtedly contributes to why he is such a prominent force for change regarding rewilding our planet. Further, the baseline my two daughters, both under the age of 10, are experiencing not only varies significantly from mine but will be a world away from Attenborough's.


Why Biodiversity Matters:

Biodiversity plays a vital role in maintaining the stability and resilience of ecosystems. Different species have interconnected relationships, such as predator-prey interactions and symbiotic relationships, contributing to the overall balance of ecosystems. Loss of biodiversity can disrupt these relationships and lead to ecosystem degradation.


You can also consider biodiversity as a global service provider. Thriving ecosystems are essential for providing clean air and water, food, natural resources like timber and medicine, nutrient cycling, pollination of crops, and regulation of climate, so they are essential for human wellbeing and quality of life.


Additionally, diverse ecosystems and species contribute to the beauty of the natural world, providing inspiration and enjoyment for people. Spending time in nature can significantly impact our health and wellbeing, be it a bracing walk along one of our beautiful British coastlines, challenging yourself to a hike up one of the UK's stunning peaks, or enjoying our fields and meadows.

 

Finally, protecting biodiversity is essential for achieving our United Nations Sustainable Development Goals - 'SDG 6, clean water and sanitation,' 'SDG 13, climate action,' 'SDG 14, life below water,' and 'SDG 15, life on land.' - which are crucial for maintaining long-term ecological integrity and ensuring a sustainable future for future generations and a world worth living in.


"The economy is a wholly owned subsidiary of the environment, not the other way around." - Gaylord Nelson


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Our economic system is completely dependent on nature.

In short, biodiversity is essential to the survival of people and the planet - you might even call it priceless – so we need to understand how valuable nature is to protect and restore what we have. One method to help us understand the value of nature is through 'Natural Capital', which is the stock of natural resources that benefit human societies economically and environmentally, such as forests, minerals, oceans, and land – the annual value of ecosystem services is estimated by Schroders ' at over $120 trillion, about 50% higher than global GDP. And according to a recent PwC report, '55% of the world's GDP is exposed to material nature risks.' In addition, S&P Global reckon '85% of the world's largest companies depend significantly on nature across their direct operations.' But I agree with David Craig , Co-Chair of Taskforce on Nature-related Financial Disclosures (TNFD) , who says 'our economic system is completely dependent on nature.'


Nature as an Asset: How to protect and restore nature.

Yet our current economic system doesn't value nature's services; as Andrew Howard , Global Head of Sustainable Investment at Schroders, points out, payments for ecosystem services are 40x smaller. So, a considerable gap between value and financial value can be closed by monetising a more significant proportion of ecosystem services. Here in the UK, there is plenty of nature to invest in, with 15 National Parks and one National Marine Park. For example, Plymouth City Council and Plymouth Sound National Marine Park want to embed people, planet and place into everything you do. With opportunities to invest in a 'place-based' approach to transform the city to be nature positive - including Peatland Restoration, Community Forest, Wetland Restoration, Sustainable Urban Drainage Systems, Retrofit residential buildings, Kelp (Mariculture), Saltmarsh, and Seagrass. 

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A 'place-based' approach to transforming the city to be nature positive

What are the five steps we can take to Build Back Biodiversity?

Which, fortunately, means that it's not too late for us all to come together and #BuildBackBiodiversity this World Biodiversity Day, starting with these five steps:

1. Reduce what we consume and produce: We need to start by reducing our negative impact on the planet, and one of the simplest – yet most effective - ways that anyone can do this at home is by reducing food waste. Nearly 10 million metric tonnes of food is wasted annually in the UK across households, hospitality, and retail, amounting to an economic value of almost £20 billion. Not only is this a staggering waste of money, but crucially, it is detrimental to our biodiversity. Conversely, reducing food waste helps restore biodiversity by reducing the demand for agricultural land, thereby preserving natural habitats. In fact, in the UK, it is estimated that reducing food waste by just 20% could have the same positive impact on biodiversity as converting around 50,000 hectares of farmland into nature reserves.


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‘A radical shift in attitudes towards lawn management is underway and it is to the benefit of plants, pollinators, people and planet.’

Another way you can build back biodiversity from the comfort of your home is by taking part in national awareness initiatives such as #NoMowMay, which, as the name suggests, encourages gardeners to avoid mowing their lawns during May. This gives wildflowers a chance to grow and bloom which is beneficial to plant life and pollinators, which not only would otherwise struggle at this time of year but has a positive ripple effect on our food supply chain, provides shelter to insects which is beneficial to our soil and saves water.


It may feel that these actions don't make a huge difference as one person. Still, if everyone took part, the shift would be seismic, which is why it's also worth considering the power of your pension - another way you can make a huge difference, which we will come onto shortly.


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Working towards a world inspired by #Ecology where nature and people thrive.

2. Become a 'Citizen Scientist': Wherever you are in the UK, there are likely Citizen Science Programs that you can take part in, so research what's going on in your local area and engage in science projects that collect and monitor data on biodiversity in the UK. By collecting data and making observations, you can help scientists and conservationists better understand and protect local ecosystems. If you are interested in citizen science, you can join the British Ecological Society 'BES' Citizen Science Special Interest Group, where you'll receive information about upcoming events and learn more about how you can become involved, which is also a great way to spend time out in nature, which we know is good for your mental health.


3. Where you invest matters: You might not know this, but your pension is a particularly impactful way of making your money a force for good and an important step we can all take together to build back biodiversity. The money in UK pensions is worth trillions of pounds. So your workplace pension will have millions, if not billions, per year to invest, which is why how you invest your money has the potential to be a catalyst for change. Ensuring that your pension contribution is being invested responsibly – that good habit over an average forty-year career – is twenty-seven times more impactful than flying less, eating less red meat, and cycling to work (though we should all make an effort to do those things as well). 


You can assess how responsible your pension is by engaging with your workplace pension provider to understand where you're invested (if you need to know who this is, you can speak to your company HR department). Find out more and ask them about the biodiversity risks and opportunities within your pension fund, and are the companies within which your pension is invested committed to 'no net loss' and 'being nature positive', and if not, how are they engaging those companies?


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Let Nature Sing

4. Who you vote for matters: Take your local support to the next level and become an activist for the planet. Support and drive change nationally by supporting policies and regulations prioritising biodiversity conservation, habitat protection, and sustainable land and resource management. Write to your local representatives (like your local councillors and MP) and support environmental campaigns. 


5. Protect and Restore Nature: Whether donating, investing in or volunteering, everyone can find a way to contribute to an organisation or group dedicated to conserving and restoring ecosystems in the UK. These organisations work on various initiatives, including habitat restoration, species conservation, and public awareness campaigns. The UK, sadly, is one of the most nature-depleted countries. Still, it offers ample opportunity to come together to change this. For example, a project close to my heart is the work Plymouth City Council are putting into restoring its National Marine Park, which will see businesses, community, and investors come together to restore valuable peatland, saltmarshes, seagrass and wetland, which will not only restore biodiversity to that area but in time, and create green jobs and provide recreation areas for the residents to spend time in nature.

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Bending the Biodiversity Curve – Protect, Reduce and Restore.  Source: COP15 and Axa IM.


To build back biodiversity in the UK and worldwide, we need to Protect, Reduce, and Restore what we have left to help prevent and reverse the impact of biodiversity loss. Reducing our environmental impact in everything we do, means wasting less food, using less fertiliser, and rapidly transitioning to a circular economy where every product and service is designed with sustainability in mind. Finally, we must restore nature by investing in natural capital to allow it to recover and grow. The UK has set an ambition to invest over £1 billion a year from private money to protect and restore nature by 2030. To make this happen, we need to be aware of the scale of the problem and the opportunity to address it. We need to want to stop what's happening and set a new path for a world worth living in. Then, with a clear and compelling vision for the future, we can develop an action plan to deploy the skills and resources to make this happen.

Together we can build back biodiversity and have a world worth living in.

Felix Hazlehurst

Office & Assistant Revenue Manager | Investment Analyst | Explaining Personal Finance through visuals ✏️

1y

Really enjoyed collaborating on some of the visuals for this, the blog post really does a great job pulling it all together!

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Mark Scantlebury

Connecting Finance to Nature. Bring capital to projects that provide universal benefits AND deliver returns to long term investors. Co founder, Quietroom. Advisor, Rebalance Earth

1y

Net Zero + biodiversity is a double dividend. A virtuous circle. In everybody's interest.

Miriam Murphy DipPFS

Wealth Manager; Partnering with individuals and professionals to create personalised roadmaps that maximise their financial wealth and secure their future.

1y

Great article, thanks for sharing 🙏🏻

Belinda Hue

Seeking change: see below, Investment professional, Actuary (sustainability, risk/capital), please see (www dot)belindahue.com

1y

Thank you Robert for an excellent article!

Marta Derpenska

Founder & Managing Director at Aeon Wealth. Helping C-Suite Executives, Senior Professionals and Entrepreneurs to manage their money in a smarter, more sustainable way so they have more time, choices and freedom!

1y

As always very Insightful. Thank you Robert Gardner; specially The phenomenon "Shifting Baseline Syndrome"

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