What's Happening?
The International Organisation for Standardisation (ISO) has launched ISO 17298, a new global standard aimed at helping organizations assess their impacts and dependencies on biodiversity. This standard was unveiled during ISO's Annual Meeting 2025 in Kigali, Rwanda. It provides a framework for businesses to evaluate how their activities affect biodiversity, identify related risks, and explore opportunities for improvement. Biodiversity loss poses significant risks to businesses, including increased operational costs and supply chain disruptions. The standard is designed to integrate biodiversity considerations into core governance and risk management practices, aligning with global expectations and existing sustainability frameworks such as ISO 14001 and the UN Sustainable Development Goals.
Why It's Important?
The introduction of ISO 17298 is significant as it addresses the growing concern over biodiversity loss and its impact on global economies. With 55% of the world's GDP at risk due to nature loss, businesses are increasingly recognizing the importance of incorporating biodiversity into their operational strategies. This standard provides a structured approach for companies to take measurable actions to protect and restore biodiversity, potentially reducing regulatory and reputational risks. By embedding biodiversity into governance practices, organizations can strengthen their operations, access nature-positive finance, and build trust with regulators and the public. The standard also supports the Kunming-Montreal Global Biodiversity Framework, encouraging corporate biodiversity action.
What's Next?
ISO's Technical Committee 331 on Biodiversity plans to develop additional standards related to biodiversity vocabulary, net gain, and product characterization based on native species. The Taskforce on Nature-related Financial Disclosures (TNFD) is collaborating with ISO to emphasize the importance of biodiversity in business resilience and risk management. The TNFD's frameworks are expected to influence the International Sustainability Standards Board's (ISSB) upcoming sustainability disclosure standard, which will focus on biodiversity and ecosystem services. This collaboration aims to guide companies in disclosing their biodiversity-related risks and impacts, further integrating nature-related issues into corporate reporting.
Beyond the Headlines
The launch of ISO 17298 highlights the ethical and cultural dimensions of biodiversity conservation. As businesses adopt this standard, they contribute to global efforts to preserve ecosystems and biodiversity, which are vital for sustaining life on Earth. The standard encourages organizations to consider the long-term impacts of their activities on natural habitats and species, promoting a shift towards more sustainable business practices. This development may also lead to increased collaboration between businesses, governments, and civil society groups to address biodiversity challenges collectively.
