Partnering Nature and Business for Prosperity

Ignoring nature is no longer an option for businesses as ecological collapse threatens their survival and profitability.

For too long, businesses have operated on the complacent premise that nature is an infinite resource – to be used without consequence. Fertile soil, clean water, pollination, and carbon sequestration are not just ecological functions; they are the backbone of modern economies. Whether construction, agriculture, pharmaceuticals, or energy, industry depends on nature’s services – yet these dependencies have been overlooked. 

The harsh reality of climate disaster, biodiversity loss, and ecosystem collapse redefines this mindset. The interconnectedness of business and nature is now a critical economic concern, with nature-related risks becoming an integral part of corporate strategy conversations. There is also the realisation that companies failing to recognise this symbiosis can forfeit immense opportunities for resilience, innovation, and growth. The World Bank estimates that by 2030, the collapse of essential ecosystem services – such as wild pollination, marine fisheries, and native forest timber – could wipe out $2.7 trillion from global GDP. The hardest-hit economies will be those least equipped to adapt, with countries like India facing potential GDP declines exceeding 10%.  

The World Bank estimates that by 2030, the collapse of essential ecosystem services could wipe out $2.7 trillion from global GDP.

India has been proactive in integrating nature into business decision-making. The Ministry of Environment, Forest and Climate Change launched the India Business & Biodiversity Initiative (IBBI) in 2014, hosted by CII-ITC-CESD, which helps businesses conserve biodiversity and manage ecosystem services sustainably. Companies that join IBBI commit to a 10-point declaration integrating biodiversity values into their business decisions. IBBI’s impact is visible across sectors. The tourism industry is designing eco-sensitive resorts that minimise environmental damage, reducing ambient temperatures and cutting energy costs. New-age holiday retreats like SwaSwara, located on the Konkan Coast near Om Beach, are designed for eco-conscious travel. The resort promotes the usage of handwoven towels made by local women to engage local communities, reuses wastewater in gardens, composts kitchen waste, and designs opportunities to reconnect with nature through birdwatching and nature retreats. Spice Village in Kerala was built using local materials and native craftsmanship, embodying the traditional wisdom of communities from surrounding mountains. Khem Village in Rajasthan, which calls itself a luxury jungle camp, was established in 1989 by planting indigenous trees and creating small water bodies. This has since converted a vast, open grassland into a natural habitat.  

Businesses are increasingly adopting landscape-based strategies that integrate biodiversity conservation with sustainable production, delivering positive outcomes for both nature and society.

Leading corporations are recognising the intrinsic link between ecological health and long-term business resilience, embedding biodiversity considerations into their core operations. 

Tata Steel has demonstrated a strong commitment to biodiversity conservation through a dedicated Biodiversity Policy. The company systematically integrates biodiversity into its operational planning by developing Biodiversity Management Plans (BMPs) or Biodiversity Action Plans (BAPs) across its sites. These plans are developed with baseline assessments, risk analyses, and ecosystem estimations to understand local biodiversity conditions. Tata Steel follows a location-specific, mitigation hierarchy-based approach – avoid, minimise, restore, and offset – to identify, address, and mitigate potential ecological impacts. Through biodiversity studies, ground-truthing, stakeholder engagement, and continuous monitoring, the company actively safeguards ecosystem services while balancing operational needs and community welfare. 

Similarly, Corteva Agriscience champions biodiversity and social inclusion through its ambitious initiative aimed at empowering two million women across India’s agricultural value chain by 2030. By fostering women-led Farmer Producer Organisations (FPOs) and cooperatives, Corteva facilitates the adoption of climate-smart agricultural practices that enhance soil health, conserve water resources, and promote on-farm biodiversity. This initiative reflects Corteva’s commitment to advancing nature-positive solutions while fostering equitable growth and resilience in rural communities. 

The Task Force on Nature-related Financial Disclosures (TNFD) leads this shift, challenging businesses to recognise their dependence on nature and take accountability for their environmental footprint. TNFD’s 14 key guidelines for environmental impact reporting urge companies to go beyond compliance and integrate nature-positive strategies into their core operations. Globally, with over 600 environmental disclosure frameworks worldwide, transparency in business operations is no longer optional but mandatory. Investors, consumers, and regulators increasingly demand that companies link financial performance to environmental responsibility.  

Businesses in India are responding to TNFD. LTI Mindtree, a global technology consulting and digital solutions company, has conducted biodiverse area and water risk assessments using the LEAP approach. The LEAP approach of TNFD is designed to help companies locate and assess dependencies on nature, evaluate risks, and prepare responses.  Indian companies like TVS Motor Company, Hindalco Group, ITC Limited, Jindal Stainless, and JSW have disclosed on TNFD in the last year, while others like TCS, Adani Ports, Nestle, UltraTech, and Maruti Suzuki have stated their alignment with TNFD, demonstrating a growing corporate commitment to biodiversity action. Dabur has committed to no net loss to biodiversity by 2050. In India, the leading sectors for TNFD adoption include metals and mining, iron and steel production, software and IT services, automobiles, and water utilities. 

Beyond compliance, Indian companies are taking bold steps to preserve and restore nature.

About 45 companies in the top 100 listed have biodiversity or nature as a material topic.

Capacity building of supply chains in nature consciousness is an increasing trend. Companies like Triveni Sugar are embedding supply chain sustainability into their Environmental, Social, and Governance strategy by educating farmers on regenerative agricultural practices. Restoration projects like Panasonic Life Solutions India’s rehabilitation of degraded land into dense forests using the Miyawaki method (an approach to afforestation developed by Japanese botanist Akira Miyawaki, involving planting a dense mix of native tree species in a small area to develop a self-sustaining, dense forest) planting 3,800 native trees to restore local biodiversity, are also slowly gaining momentum. Miyawaki is popular for its rapid growth, high density, and biodiversity benefits and is considered a practical solution where natural forests are essential.  

These efforts, while commendable, must be rapidly scaled. India stands at a pivotal moment where businesses must take the lead in protecting and restoring nature. Whether through large corporations, SMEs, or sustainable supply chain management, companies have the power and responsibility to embed biodiversity into their core strategies. Companies that recognise nature as a critical business asset will thrive in the coming decades. Now is the time for bold commitments and decisive action. Business and nature are not separate entities; they are deeply intertwined, and their futures depend on each other. The question is no longer whether businesses should invest in nature, but how quickly they can afford to do so before it’s too late. 

Companies that recognise nature as a critical business asset will thrive in the coming decades.