Eight major Swedish companies from four sectors are joining forces in the project "Business Valuation Method for Biodiversity". Behind this unique initiative and collaboration are Boliden, Cementa, LKAB, SCA, Skellefteå Kraft, Specialfastigheter, Svenska Kraftnät, Vattenfall and Ecogain.

The mission is to;

develop a tool to assess the impact of land use on biodiversity.

The aim is to;

companies should be able to credibly quantify and communicate both their negative and positive impacts on biodiversity in land use or land use change.

An expected effect is that;

making permit processes for major public projects more predictable for authorities, stakeholders and companies, and simplifying the follow-up of measures taken.

- "The strength lies in industries coming together around a common need to be able to measure biodiversity and find synergies for both the environment and business," says Rolf Lindgren, Group Manager Environment at Skellefteå Kraft, one of the companies involved in the initiative.

Internationally, there are already several examples of valuation methods, but no global standard yet. Examples include the UK Biodiversity Metrics and various valuation models used in the US and Germany.

Those behind the project are companies that, in various ways, use a lot of land through their activities. They have therefore all identified biodiversity as an essential issue in their sustainability work and in their business. The idea for the project emerged during the companies' joint meetings in Business@Biodiversity Sweden, an environmental network for large companies.

Helle Herk Hansen, Environmental Manager at Vattenfall, answers what the company sees as the benefits of participating in this project:

- We see great potential in finding a practically applicable method for valuing biodiversity. Finding a common approach that works for different industries will be a strength in the dialogue with our stakeholders.

- "We think it is important to be able to measure biological values in order to compare and estimate how we are progressing," says Linda Bjurholt, environmental manager at LKAB, when describing the business benefits of the project.

The project will be led by Ecogain, a consultancy specializing in sustainable land use and biodiversity.

The tool will facilitate the integration of biodiversity into companies' business models and can improve target setting and monitoring. Biodiversity actions will also be more effective, as the valuation tool will allow companies to focus where the greatest environmental benefits can be achieved.

It is a huge strength that so many companies with such a wide range of expertise are coming together to launch this initiative. All participants are also humbled by the challenge of finding the delicate balance between scientific accuracy and applicability. Biodiversity is complex.
- Anders Enetjärn, CEO of Ecogain

He also emphasizes that an important part of the project is to anchor the method widely. A reference group will be appointed with both national and international representatives from authorities, academia and other interest groups. The tool developed will be open for all community builders to use.

This is a very exciting initiative. If it can stimulate increased ambitions and companies to set clear goals and strategies for biodiversity, as has been done for climate work, it will be able to contribute to further strengthening the business community's leadership role.
- Johan Kuylenstierna, board member of Ecogain

About the project

The Business Valuation Method for Biodiversity project was initiated by Ecogain and the eight large companies that are now partners in the project.

The following companies have already joined: Boliden, LKAB, Cementa, Svenska Kraftnät, Specialfastigheter, Skellefteå Kraft, SCA and Vattenfall. All are members of the Business@Biodiversity Sweden network.

The project is open to welcome new project partners.

Phase 1.0 will cover 'Land use change on land'. Project start in August 2020.

Later phases will tentatively address aquatic environments and agriculture.

Read the article with an interview by Anders Enetjärn in Dagens Industri:

https://www.di.se/hallbart-naringsliv/nu-ska-storbolagen-mata-biologisk-mangfald/