Nature Based Solutions

In the past, an SP Biodiversity Work Group supported members in building and advancing conservation programs across their operations to create positive outcomes for the environment, the industry, and the communities in which they operate.  The work group’s Pollinator Project initiative provided an entry point to biodiversity action and challenges companies in the automotive value chain to implement or expand pollinator projects at their sites, with several hundred successful projects reported.

Since the formation of the biodiversity work group there have been several changes with respect to biodiversity and nature expectations placed on companies, as well as emerging challenges / opportunities posed by the transition to EV batteries and the critical materials they require. New and emerging regulatory efforts, corporate reporting frameworks and standards, and other initiatives are likely to impact a number of companies in the automotive value chain and increase expectations / requirements for disclosure of biodiversity risks and dependencies.  While, the need to mine new materials in the coming years to support the industry’s electrification efforts may place an even greater focus on assessing nature-related impacts and risks within the value chain.

As a result, SP has re-launched the prior Biodiversity Work Group as a new Nature Based Solutions Work Group to support automakers and their suppliers in identifying, developing and advancing nature-based solutions as effective tools to improve climate resilience and pollution prevention, as well as provide human well-being and biodiversity benefits.