PwC, one of the world's leading professional services networks, recently announced the launch of a new global Centre for Nature Positive Business, highlighting its commitment to sustainable business practices. The centre will enhance PwC's capabilities in areas such as biodiversity, regenerative agriculture, water, and forestry, among others. The Big Four accounting firm aims to double the size of its team of "nature specialists" from 500 to 1,000 within the next 12 months.
PwC's specialists will work on engagements in various areas such as nature risk management and reporting, nature finance and fund management, nature technology, data and measurement, and nature-positive strategy and transformation.
In addition, the company is assessing the nature-related impacts of its supply chain and determining which of its offices are situated in or adjacent to key biodiversity areas. This move is aimed at promoting sustainable business practices and ensuring that PwC is not contributing to the degradation of natural ecosystems and biodiversity.
According to recent research from PwC, 55% of the world's GDP, equivalent to $58 trillion, is exposed to material nature risk without immediate action. The degradation of natural ecosystems and biodiversity also poses significant risks to listed companies, with more than half (50.6%) of the market value of listed companies on 19 major stock exchanges exposed to material risks.
To mitigate these risks and promote sustainable business practices, PwC collaborates with various sustainability-focused organizations, including the Science Based Targets Network (SBTN), the Taskforce on Nature-related Financial Disclosures (TNFD), the World Business Council for Sustainable Development (WBCSD), and the World Economic Forum's Global Biodiversity Framework.
The launch of the Centre for Nature Positive Business is a significant step forward for PwC and the industry as a whole. By doubling the size of its team of nature specialists and enhancing its capabilities in key areas, PwC can promote sustainable business practices and provide businesses with the tools and expertise to assess and manage nature-related risks.
As companies increasingly recognize the importance of environmental sustainability and social responsibility, PwC's Centre for Nature Positive Business can help businesses incorporate sustainability into their operations and decision-making processes, ultimately promoting a more sustainable and resilient future for all.