In recent years, the phrase ecosystem services (ES) has been used to describe natural contribution of ecosystems to the functioning and wellbeing of society. These benefits an be direct or indirect, and small or large in scale.
The companies under assessment in Vigeo Eiris’ paper display a significant overall level of transparency on the topic of biodiversity, but reporting on the specific issue of ecosystem services remains limited.
- The efficient and responsible management of ecosystem services is both a necessity and a business opportunity for companies, particularly those relying heavily on natural resources such as water or food & beverage companies
- The assessment and valuation methods of ecosystem services are being continuously refined, with the input of the scientific community, members of civil society and policy makers. Companies also need to be part of the process to define ecosystem services
- Improving understanding and awareness of ecosystem services will help diverse stakeholders, including representatives of the private sector. By realising the dependence of their business models on ecosystem services, businesses may be encouraged to participate in their protection
Environment, ESG, Methodology