Making the Business Case for Nature-Based Solutions
This chapter examines how Dow and The Nature Conservancy developed a nature scorecard to integrate nature-based solutions into corporate decision-making. It outlines technical components, environmental metrics, and lessons learned, highlighting how scientifically grounded tools can drive broader adoption of sustainable business practices.
Subject Tags
- Nature-based solutions
- Business and Industry
Abstract
Nature-based solutions, which combine natural and modified ecosystems, are becoming an increasingly important means of addressing environmental and business challenges in a cost-effective manner. The adoption of this natural technology within a company or organization, however, can be challenging as it requires adjusting, often long-standing, engineering, finance, and business practices. In this chapter, we present an example of a tool, the nature scorecard, that was developed and implemented to help drive the adoption of nature-based solutions within one company – The Dow Chemical Company – through its collaboration with The Nature Conservancy. This tool was designed to provide information on a project’s environmental components and performance to complement traditional financial metrics, such as return on investment. We present both technical details of the tool and key qualitative characteristics that should be considered in the development of similar tools and resources. Going forward, robust scientifically grounded information and metrics, like those provided from the nature scorecard, will be critical for driving the continual adoption and integration of nature-based solutions in business decisions. Ultimately, the tool presented here is just one example; future iterations of the tool will need to be informed by on-the-ground use and new relevant science and data.
Citation
Rogers, M., Guertin, F., Lonsdorf, E., Nootenboom, C., McFarlane-Connelly, L., & Guidry, T. (2023). Making the Business Case for Nature-Based Solutions. In Engineering and Ecosystems: Seeking Synergies Toward a Nature-Positive World (pp. 295-315). Cham: Springer International Publishing.
TNC Authors
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Martha Rogers
The Nature Conservancy
Email: martha.rogers@TNC.ORG -
Lianna McFarlane-Connelly
The Nature Conservancy