Taking action for nature with our suppliers

Did you know that over half the global economy is moderately or highly dependent on nature? And yet we have witnessed a 69% decline in global wildlife populations since 1970, with the UK in the bottom 10% of the most nature depleted countries in the world.

Coupled with the critical importance of nature and biodiversity in tackling the concurrent climate crisis, the imperative has never been higher for businesses to engage and take action for nature.

As a professional services firm, the majority of our nature impacts lie in our supply chain. Working with our suppliers is, therefore, essential in driving a nature-positive world. One of the core elements of our approach to supply chain sustainability, is to advocate and support our suppliers to accelerate their sustainability journey, through channels such as 1:1 support meetings, training sessions, and our annual Supplier Sustainability Forum.

What we did

In recent years, we have focused on the theme of decarbonisation in our Supplier Sustainability Forums - with topics spanning net zero transformation, climate technology, and the need for green upskilling to support a just transition in delivering a net zero world.

For our 2024 Supplier Sustainability Forum, we drew attention to the accelerating nature crisis.Following an update of PwC UK’s supply chain sustainability framework and expectations, we heard insights from PwC's nature and sustainability experts on the critical connection between business and nature, as well as the necessary actions suppliers can take to understand their own relationship with nature. This initial step is essential in creating an impactful and effective nature strategy and aligning with TNFD disclosure requirements. Our experts also shared practical advice from the Nature Strategy Handbook that PwC developed in collaboration with Business for Nature.

We then moved our focus to how organisations can take tangible action to address their nature impacts in their operations and supply chains. To bring this to life we shared case studies from PwC’s corporate sustainability strategy - such as our circular economy and Nature Network programmes.

We also welcomed guest speakers from two of our suppliers, sharing practical examples on how they are addressing their nature impacts - such as the establishment and delivery of a nature positive strategy by one of our tech suppliers; and how our catering supplier uses produce from regenerative farming and our own edible garden in the food we serve at our events.

Making a difference

We welcomed over 100 attendees across a wide range of sectors, from office fitout and IT, to event and business travel, for a full morning of upskilling, audience participation and networking.

Polls held during the event provided useful insights and found that only 30% of respondents were planning on making a TNFD-aligned disclosure in the next 12-18 months - suggesting that many organisations are in the early stages of advancing their nature strategies.

At the same time, however, we were encouraged to hear that many suppliers have started considering the importance of nature - with 50% of respondents having already integrated nature to some degree into their corporate strategies, and a further 36% are holding internal discussions on the subject.

Nonetheless, we know that further action is required. And with 75% of respondents reporting that they felt inspired by the event to address the topic of nature as part of their sustainability strategy, we are hopeful that through the event, we have generated momentum and knowledge that attendees will transfer to their own nature and sustainability strategies.