Submitted by Administrator on Mon, 14/01/2019 - 12:58
16 January 2019 – A report produced in collaboration with Kering, explains how the Planetary Boundary framework can be applied in the context of corporate sustainability.
This report is Kering’s first White Paper in a series on Planetary Boundaries for Business which aims to identify the next steps to integrate the PB framework into corporate decision-making.
The nine Planetary Boundaries, developed by the Stockholm Resilience Centre, provide the parameters for the planet to maintain a stable state, fundamental to supporting contemporary society. This report considers how translating and applying these at a corporate level can enable businesses to better prioritise and focus their sustainability efforts.
The report outlines how incorporating the Planetary Boundary framework into business decision-making would help companies to understand the consequences of their environmental impacts at a global level and presents valuable opportunities and pathways to creating a new, more robust agenda for managing and mitigating environmental impacts.
A key recommendation is the importance of companies considering the opportunities and limitations of ‘downscaling’ and ‘upscaling’ the framework to enhance their sustainability strategy and decision-making. ‘Upscaling’ the impacts of a company in a given location would encourage companies to shift towards activities that focus on doing 'more good' rather than just incremental changes to do 'less bad'.
Helen Ford, CISL’s Natural Capital Programme Director, said:
“We are delighted to collaborate with Kering to understand how businesses can use the Planetary Boundary approach to help them work towards a sustainable future”.
Speaking on behalf of the scientific community in the paper, Johan Rockström, Executive Director of the Stockholm Resilience Centre said:
“Businesses increasingly call for science-based targets to guide investments, innovation and performance indicators along the value chain. I hope that the Planetary Boundaries framework and the rapidly advancing science on global sustainability can assist in providing Business with the science it needs for responsible business prosperity in the Anthropocene.”
Kering’s Chief Sustainability Officer and head of international institutional affairs, Marie-Claire Daveu, concurs and stated:
“The Planetary Boundaries framework is a fundamental element to include when designing the agenda for managing and mitigating our global environmental challenges. As businesses we need to go far beyond our single, individual issues and contribute to meaningful change at a global level.”
Ultimately, as companies increasingly seek to reduce their environmental impacts, improve resource efficiency and mitigate risks from climate change, the framework offers a new approach for the business community to set science-based corporate targets and make meaningful decisions to help restore a well-functioning planet.
