The first BIOFIN-EU webinar held on June 17th and co-hosted by the University of Limerick and ILSI Europe provided an overview of instruments that support nature-positive investments within the agri-food industry. The primary aim of this webinar was to engage sustainability professionals and highlight the critical role food companies can play in preserving biodiversity.
Why Food Companies?
The global food sector is recognized as a primary driver of biodiversity loss, making food companies vital stakeholders in the quest to halt and reverse this trend. These companies have the potential to become key players in nature-based solutions (NbS), either by implementing these solutions directly or by supporting them through private funding. Their involvement is crucial for the success of initiatives like BIOFIN-EU, which seeks to unlock mainstream finance for biodiversity protection and restoration.
Understanding Nature-Based Solutions (NbS)
We describe NbS as solutions implemented at a landscape level, beneficial to both humans and nature. These solutions vary from intrinsic NbS, which involve protecting existing ecosystems, to hybrid NbS, which include active ecosystem management, and inspired NbS, which involve designing new ecosystems. Colas Chervier illustrated practical applications of NbS with an example of a mineral water-producing company in France which implemented integrated catchment management to sustain water quality and quantity.
Case Study: NbS Financing in the Dairy Sector
John Garvey presented a case study on the “Waters of Life” project. This initiative is establishing a results-based payment scheme for Irish farmers, primarily dairy farmers, who implement practices to improve water quality. We are exploring a blended finance model that complements current public funding sources with corporate funds from water utilities and milk processors benefiting from these NbS. The value proposition for food companies includes reducing supply chain risks, supporting nature-related reporting, and enhancing product differentiation.
Engaging Food Companies: Your Role in BIOFIN-EU
The webinar concluded with a Q&A session, where participants were invited to collaborate with the BIOFIN-EU project. The project team is seeking food companies to help understand the benefits of implementing NbS in the food system, identify decision-making barriers, and co-design financing instruments and business models.
Join the Movement
Preserving biodiversity is not only crucial for maintaining ecosystem services but also for ensuring the long-term sustainability of the food industry. Biodiversity supports food security, enhances resilience to climate change, and provides economic opportunities. By integrating biodiversity into their investment decisions, food companies can mitigate risks, meet consumer demands for sustainable products, and contribute to global conservation efforts. For more information and to get involved, please contact the project coordinator at . Let’s work together to make a positive impact on our planet.
