Nature Impact Metric

Klere launches pioneering new tool to measure the nature cost of doing business

• Latest addition to Klere’s suite of ESG reporting solutions

• New Nature Impact Metric extends Defra’s Statutory Biodiversity Metric to calculate the ‘nature cost’ of doing business

• Metric unveiled as a key biodiversity tool at the major London event, Nature Data for Institutional Investors (www.nature-data.com)

• Assesses direct and supply chain biodiversity impacts with transparent, auditable ESG reporting

London, [December 2024] – To address the pressing need to (understand and?) reduce the impact of business on nature, Klere has unveiled the latest addition to its suite of ESG reporting solutions, the Nature Impact Metric (NIM). NIM is a groundbreaking tool that measures corporate biodiversity footprints quickly, accurately and cost-effectively.

Extending the UK Government Defra’s Statutory Biodiversity Metric, NIM adds peer-reviewed assumptions to calculate the ‘nature cost’ of doing business, i.e. the opportunity cost of habitat suppression caused by business activities.

Expressed in Biodiversity Units, a standardised metric of value that can be compared across organisations, NIM enables companies to assess their direct and supply chain nature impacts with transparent, auditable ESG reporting.

NIM uses a footprinting approach similar to carbon accounting, providing actionable insights to mitigate business biodiversity impacts and drive meaningful change. ‘Nature cost’ can be calculated using readily available expenditure data, commonly used to calculate carbon emissions in accordance with the GHG Protocol. By adopting the language of Carbon ‘scopes’ to calculate corporate nature impact across Scope 1 (direct land use), Scope 2 and Scope 3 (indirect land use from supply chain activity), NIM allows corporates already calculating Scope 3 emissions to determine the nature impact of their operations.

As well as influencing supplier behaviour, this data can help companies comply with directives such as the Corporate Sustainability Reporting Directive (CSRD) and international frameworks like the Taskforce for Nature-related Financial Disclosures (TNFD).

Additionally, Klere has developed an advanced Nature Dashboard powered by the NIM toolset. Using corporate expenditure data, the platform delivers cost-effective nature and carbon footprints in just days or weeks, streamlining sustainability reporting.

Paul Crowe, CEO at Klere said: “Underscoring our commitment to help organisations fully understand and reduce their environmental impact, Klere’s Nature Impact Metric marks a significant advancement in biodiversity accounting. ~We are providing businesses with the tools they need to measure and mitigate their effect on nature with speed and precision.”

Nature Context:

• The World Economic Forum (WEF) highlights that over half the world’s GDP is dependent on nature, emphasizing the importance of biodiversity.

• The UK Government’s State of Nature Report 2023 notes a 19% average decline in species since 1970, with nearly 1 in 6 species now threatened with extinction.

• The GFI Nature-Related Risks and Impacts report estimates that biodiversity risk could cost the UK economy £70 billion by the late 2020s.

• Groundswell of forward-thinking organisations keen to invest in their sustainable future.

Business Need:

• International reporting standards such as ISSB have matured, with a sharpened focus to determine, prioritise and monitor sustainability-related risks and opportunities.

• Measuring and acting on nature impact can help businesses avoid and mitigate environmental risks while taking advantage of cost-reduction opportunities.

• By 2030 companies will be required to assess and disclose their nature-related risks, impacts, and dependencies.

About Klere: Klere is a UK-based clean-tech company focused on driving investment in carbon and nature markets for a sustainable and biodiverse future.

Our solutions are designed to advance sustainable business through nature data and carbon capture. The Nature Impact Metric (NIM) is the latest addition to their suite of ESG reporting solutions, designed to help companies navigate the complexities of biodiversity impact measurement.

Media contact: Giorgia Whincup (Nature Data Consultant)

Phone 0203 538 1263

Email giorgia.whincup@klere.uk