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Aligning CSR and Climate Justice for Indigenous Peoples
When it comes to mitigating the impact of climate change, time is running out for many Indigenous Peoples, whose land plays host to about 80 per cent of global biodiversity. But as Indigenous Peoples fight for climate justice, they face significant social and economic issues that intensify their climate-related problems, including limited representation, restricted education access, inadequate financial services, and conflicts stemming from unregistered ancestral lands and territories. This article proposes a new framework for sustainability that aims to bring the planet’s stakeholders together by aligning corporate social responsibility practices with climate justice requirements for Indigenous Peoples. The authors’ Regenerative Business Framework for Indigenous Peoples’ Climate Justice was developed to provide a strategic approach to achieving climate justice through a balancing of the needs of “planet, people and prosperity” within a regenerative and distributive economic model. The framework is based on an acknowledgment of the rights of Indigenous Peoples along with the value of their wisdom as champions of biodiversity stewardship. It lays the foundation for sustainable capitalism by offering a systematic approach to climate justice that empowers Indigenous populations as agents of businesses seeking the preservation of assets and resources that support a wide range of industries. In the authors’ framework, businesses strive to effectively operate through a cycle of acknowledgement, action, and accountability/transparency in their interactions with Indigenous Peoples. -
Seeding Private Sector Interest in Biodiversity
Biodiversity loss threatens enough economic activity to warrant far more private sector investment than it gets. Over half the world’s total GDP is “moderately or highly dependent on nature and its services,” and restoring and conserving nature is widely expected to require annual investment of more than US$700 billion. However, the money currently being spent doesn’t come anywhere close to that. If we’re serious about protecting our ecosystems, we can’t rely on the public sector alone. To help attract the level of private-sector investment required to bridge the biodiversity financing gap before it’s too late, this article argues that governments need to create a conducive investment environment and seed a self-sustaining biodiversity market through a major increase in concessional financing. The authors believe there are three primary factors behind why the biodiversity crisis in developing countries fails to attract more private capital. First is the scarcity of investible deals. Second, the environment in terms of policies and frameworks isn’t conducive. Third, risk perception is significant. To develop biodiversity as an adaptation sector, climate accelerators (cohort-based programs offering early equity that have mentorship and educational components) could facilitate and support the growth of adaptation and biodiversity technologies, particularly in developing countries.