Suntory Holdings and Eurasia Group released a report that charts the path forward for businesses in devising corporate nature strategies with lasting impact in a post-COP15 world.
Titled “Addressing Nature Loss in Asia: The Next Sustainability Challenge for Businesses,” the new report explores how the continued erosion of nature is weakening prospects for long-term economic prosperity across Asia-Pacific, where nearly two-thirds of the region’s GDP is at risk from nature loss. Of course, the tea industry should take notice, especially tea estates in the Asia-Pacific region.
“Now that the full report is out, I hope businesses – particularly ones in Asia – will see this as a challenge to act urgently and creatively,” said Suntory CEO Tak Niinami. “There is real risk here, but also real opportunity. Companies that seriously consider their responsibilities to nature have seen risks transformed into competitive gains, and that is something we want to highlight with this report.”
A global leader in the beverage industry, Suntory Group – based in Japan – offers a diverse portfolio of products, including brewed teas and health and wellness goods. Its brand collection also includes Iyemon green tea, TEA+ Oolong Tea and others. Eurasia Group is a leading global political risk company.
The recently-published report is the culmination of a year-long project, building on key learnings from a roundtable series in 2022 that explored the role of biodiversity in business today and a live digital event in December 2022 focused on the link between business sustainability and a healthy, living planet.
The report is also a product of the Sustainability Leaders Council, an initiative created by Eurasia Group and Suntory in 2021 with a mission to position Asia as a leading force for change within the climate and sustainability sphere.
“A healthy planet is critical for businesses to thrive sustainably,” said Eurasia Group President Ian Bremmer. “This report makes clear that companies don’t operate in a vacuum, and they should care about biodiversity, not only for regulatory or reputational reasons, but increasingly for material and financial ones. We are proud to have partnered with Suntory in this effort to chart a path for businesses to help preserve the natural ecosystems they, their suppliers, their investors, and their customers existentially rely on.”
Key takeaways and recommendations from the report include:
- Businesses have a short window of opportunity to get ahead of the competition by acting now to manage biodiversity risks. Environmental awareness is particularly prevalent among Asian consumers, with 70 percent of people preferring to buy products from companies that respect biodiversity and people. Most people in China (92 percent), Vietnam (93 percent), and South Korea (85 percent) think that companies have a moral obligation to generate a positive impact on biodiversity and people through their sourcing of natural ingredients.
- Some estimates suggest nature-positive business opportunities in Asia-Pacific could generate $4.3 trillion by 2030 – equivalent to 14 percent of the region’s GDP.
- Asian businesses are highly dependent on the goods and services provided by nature, perhaps more so than firms on any other continent, placing them at particular risk of disruption from nature loss. For example, agriculture, fishing and forestry accounts for over 90 percent of deforestation in Asia-Pacific, including 2.2 million hectares of tropical forest loss annually, per Suntory Holdings and Eurasia Group.
- A recommended first step for businesses is to conduct biodiversity screenings to develop a good understanding of where and how they interact with – and affect – nature. This requires taking time to identify dependencies at the direct operation level and repeating the exercise incrementally across the value chain. More quick wins for companies are detailed in the report.
The full report can be found here.
To learn more about Suntory Group, visit Suntory.com.
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