On August 7, 2024, the World Benchmarking Alliance (WBA) published its 2022-2024 Nature Benchmark, assessing the nature-related strategies and disclosures of over 800 large companies from more than 20 industries. The report evaluates corporate environmental impacts, including ecosystem damage and plastic waste generation.
Key findings reveal that most companies are not following through on commitments to protect nature with concrete actions or meaningful data collection. Only 5% have evaluated how their operations affect nature, and fewer than 1% have assessed their dependencies on nature (FPF reported). No companies were found to fully assess and disclose their nature-related dependencies.
The benchmark also highlights gaps in plastic waste reduction. Only 20% of companies report progress on reducing virgin plastic use or improving recycling, and fewer than 10% set clear plastic reduction targets (FPF reported).
Furthermore, companies are largely unprepared to address the impacts of nature loss, water issues, and pollution on Indigenous and local communities, with only 13% committed to respecting local rights.
These results are especially relevant, considering the ongoing negotiations for a global plastics treaty (FPF reported). Ambitious stakeholders are asking for a decrease in the production of primary plastic polymers, arguing that current end-of-life measures are not adequate to reduce plastic waste (FPF reported). The next and final round of negotiations will take place in Busan, Republic of Korea, from November 25 to December 1, 2024.
The Food Packaging Forum continually collects companies’ packaging-related initiatives and commitments. They are made available in a user-friendly and searchable format in the Brand & Retailer Initiatives Database (BRID). The database does not rank, review, or follow up with any of the included initiatives or commitments.
References
World Benchmarking Alliance (August 7, 2024) “Nature Benchmark 2022-2024.”
Sarah George (August 7, 2024) “Vast majority of corporations not measuring nature or plastics impacts, study finds.” edie
