Ecogain Biodiversity Index 2021: Finland ranks best in biodiversity in the Nordic and Baltic countries
For the third year in a row, Ecogain's Biodiversity Index is now being released, an evaluation of the sustainability reports of the largest Swedish, Nordic, and Baltic companies based on how they identify, set goals, implement measures and follow up biological diversity. A total of 240 companies in eight countries have been examined and this year the Swedish Vattenfall performs best in both the Swedish and international rankings, but for the second year in a row, Finland is at the top in a national comparison.
Last year's report clearly showed the gap between climate and biodiversity in large companies' sustainability work - by 2020, not even one of the companies examined had set scientifically based goals for biodiversity. Although the upward trend for actual goals and measures is slow, a significant difference is noticeable in one aspect: For the first time, more than half (66%) of the largest Nordic companies mention biological diversity in their sustainability reports.
In a country-by-country comparison between the 20 highest-ranked companies in each country, Finland is in first place, followed by Norway, Sweden and Denmark. Iceland is in last place, after the Baltic countries. Among the 100 largest companies in the Nordic region, three fishing companies are in the top 5: Fortum in second place and Kesko and UPM-Kymmene in a shared fourth place. Fortum is also the company on the Finnish list that performs best.
– Even if the trend continues in the right direction, the large companies' reporting shows that biological diversity is not managed based on the business risk that the issue represents in the long run, says Fredrik Höök, CEO of Ecogain.
In the autumn, the UN will decide on new global biodiversity targets, a "1.5-degree target for nature", which is expected to be of great importance to the business community. At the same time, the Science Based Targets Network (SBTN) is developing methods and guidelines for companies that want to set biodiversity goals in line with science. Ecogain has adapted this year's Biodiversity Index so that it is in line with SBTN's preliminary framework.
Ecogain's Biodiversity Index evaluates companies based on 23 control questions. The companies' level of ambition is categorized on the basis of the traffic light's three colors, depending on whether the company has a timed goal of biological diversity that is in line with science or not.
- Green light gets companies with a timed goal of NoNetLoss (NNL) or Biodiversity Net Gain to (BNG) by 2030.
- Yellow light is given to companies with some form of goal or policy for biological diversity.
- Red light is given to companies that do not have goals or policies for biological diversity.
In this year's Biodiversity Index, four Swedish companies get the green light for their work, an upswing from last year, when no company reached the criteria for this. It is Vattenfall, Boliden, H&M and SCA who in their latest sustainability reports described timed targets for No Net Loss (NNL) or Biodiversity Net Gain (BNG) by 2030. Vattenfall, which last year was found in place 10 among Swedish companies, is now performing best both on the Swedish list and of all the 240 Nordic and Baltic companies examined.
– In its latest sustainability report, Vattenfall shows that the company strives for a net positive impact on biodiversity by 2030. The company also shows that it integrates the assessments of biodiversity into its business processes. It has an effect in our analysis, says Anders Enetjärn, founder of Ecogain and initiator of the Biodiversity Index.
In three years, Ecogain's Biodiversity Index has grown from only Sweden to now eight countries, and there is a clear plan to continue to scale up. New for this year is that part of the analysis was carried out with the help of AI, in collaboration with Knowit. With the Biodiversity Index 2021, Ecogain will also begin a collaboration with Nasdaq in the role of “Official Biodiversity Data Provider” based on the company data that Ecogain now collects and analyzes.
– The purpose of the Biodiversity Index is to help companies understand how biodiversity is relevant to them, so that they can integrate the issue as an obvious part of the strategic sustainability work and business. There is still a long way to go before a truly sustainable business life, but we notice an increased interest and commitment. The fact that large global financial players such as Nasdaq are now shedding light on biodiversity is a clear signal to the business community about the need to raise the issue to a higher level in every company. says Fredrik Höök, CEO of Ecogain.
The full report and live stream of the release is available on Ecogain's website after May 27: https://www.ecogain.se/ecogain-biodiversity-index
For more information and further comments on the report, contact:
Fredrik Höök, CEO of Ecogain,
phone: +46 (0) 10-405 90 07
e-mail: Fredrik.hook@ecogain.se
Pictures for free publication:
Emelie Ousbäck, marketing manager Ecogain,
phone: +46 (0) 10 405 90 03
e-mail: emelie.ousback@ecogain.se
https://www.ecogain.se/
Ecogain has almost 20 years of experience in creating opportunities for social and business development in harmony with nature, together with the business community. It has given Ecogain a reputation as one of the country's sharpest knowledge companies in ecology, species, and ecosystems. Ecogain works vertically, from strategy at the executive level to planning and carrying out direct efforts on the ground and in the water. This is Ecogain's unique way of operating. Some of Ecogain's customers are LKAB, Vattenfall, Boliden, Södra, OX2, Holmen Energi, Systembolaget and Svenska kraftnät. Ecogain also operates the Swedish corporate network Business @ Biodiversity Sweden.
