"The report marks the beginning of the industry's journey in halting and reversing nature loss by 2030 and achieving full recovery by 2050. But it unveils the scale of the challenge ahead. Half of retailers (52%) are yet to make any public commitments on nature, and two thirds (67%) lack a data led-strategy. This is due to barriers such as budget constraints, data gathering, and ensuring suppliers take action."
"By continuing to track progress and hold retailers to account, this report will help begin the process of driving positive change in the industry. The BRC will continue to track and publish annual updates. Over the next year, retailers - with support from the BRC - will focus on creating workable nature policies, establishing standardised metrics, improving supplier engagement, and building the business case for nature. Government are also set to publish their revised Environment Improvement Plans, which will be crucial for progress."
Three quarters (76%) of retailers have no targets on protecting nature. Half of retailers (52%) have made no public commitments and two thirds (67%) lack a data-led strategy. Reported barriers include budget constraints, difficulties gathering data, and challenges ensuring supplier action. Some momentum exists: 29% are developing public commitments, 24% are engaging suppliers on nature, 29% are working on a nature strategy, and 25% list nature as a top business priority. Targets include halting and reversing nature loss by 2030 and achieving full recovery by 2050. Planned actions include policy development, standardised metrics, supplier engagement, and building the business case for nature.
Read at London Business News | Londonlovesbusiness.com
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