LimnoTech partnered with the Pacific Institute, CEO Water Mandate, The Nature Conservancy (TNC), and Second Nature Ecology+Design to develop a standardized methodology for Biodiversity Benefit Accounting (BioBA) to account for terrestrial and aquatic biodiversity co-benefits of corporate water stewardship activities.
Butterflies lined up along a water's edge.

Location:
Global

Clients:
3M, Cox Enterprises, Ecolab, Equinix, Google, Microsoft, and Suntory Global Spirits

Partners:
Pacific Institute, CEO Water Mandate, The Nature Conservancy (TNC), and Second Nature Ecology+Design

Service Areas:

Our Expert:

LimnoTech partnered with the Pacific Institute, CEO Water Mandate, Second Nature Ecology+Design, and The Nature Conservancy (TNC) to develop a standardized methodology for Biodiversity Benefit Accounting (BioBA) to account for terrestrial and aquatic biodiversity co-benefits of corporate water stewardship activities.

The Challenge

Healthy ecosystems are a crucial asset for corporations, helping minimize water-related risks related to supply regulation and stability, water quality protection, and mitigation of the impacts of extreme events. Corporations have adopted water stewardship approaches to address water-related risks and shared water challenges. Their efforts help improve conditions onsite and in watersheds and communities where they operate through ecosystem restoration and other stewardship activities.

As corporations embrace water stewardship, there are opportunities to recognize multi-benefits and synergize water and biodiversity efforts. Water and biodiversity are closely linked, but little guidance was available on how corporations should account for biodiversity-related benefits of their water stewardship projects.

How We Are Helping

The Pacific Institute, CEO Water Mandate, LimnoTech, TNC, Second Nature Ecology + Design developed standardized methods for terrestrial and aquatic Biodiversity Benefit Accounting (BioBA) of water and ecosystem stewardship activities. The methodology responds to the growing need for credible and transparent quantification of the biodiversity benefits generated through water stewardship. It aligns with broader global biodiversity accounting initiatives, including the Nature Positive Initiative and Align Project, and it complements previously developed quantification guidance, notably the Volumetric Water Benefit Accounting (VWBA) and Water Quality Benefit Accounting (WQBA) methods.

The primary objective of BioBA is to provide companies and project partners investing in water stewardship activities with clear guidance on how to:

  1. Identify biodiversity objectives for corporate water stewardship projects,
  2. Plan for implementing biodiversity-aligned projects,
  3. Select appropriate indicators, metrics, and methods with which to evaluate the biodiversity benefits of
    corporate water stewardship projects, and
  4. Communicate the biodiversity benefits of corporate water stewardship and biodiversity projects.

BioBA is a practical, science-based framework that is technically robust yet pragmatic and feasible to implement. BioBA will help ensure biodiversity benefits are transparent and, where possible, quantified, to drive a stronger business case to invest in activities supporting biodiversity conservation and restoration.

The first phase of this work focused on a BioBA Landscape Assessment that critically reviewed relevant resources with implications for biodiversity benefit quantification in the water stewardship realm. The objective was to identify baseline information on existing biodiversity commitments, frameworks, and approaches. The Landscape Assessment informed the second phase of work, which focused on the development of the BioBA guidance and methodology, a seven-step process to characterize and communicate the biodiversity benefits of a project. The steps are closely aligned with the life cycle of a corporate water stewardship project, from project conceptualization to implementation and monitoring.

Biodiversity Benefit Accounting (BioBA), 7-step methodology graphic that shows each step starting with identify, then define, plan, implement, quantify, evaluate, and ending with communicate.

The guidance and methodology were reviewed with positive feedback from corporate sponsors and an Expert Advisory Group (EAG) to determine that the guidance had an appropriate level of prescriptiveness, was technically robust, and met corporate needs. The EAG consisted of over 20 members from the private and public sectors, academia, NGOs, international organizations, and civil society groups. The team applied the guidance and methodology to real-world case studies of corporate water stewardship projects. The aim was to demonstrate how biodiversity benefits may be evaluated across a wide variety of projects, as well as determine the feasibility of corporate adoption and identify potential challenges.

The project team included ecologists, researchers, environmental and water resources engineers and scientists, and partners in corporate sustainability strategy. This work was supported by corporate funding partners and reviewed by a volunteer Expert Advisory Group.

Prioritizing biodiversity as a core component of corporate water stewardship has never been more critical. As companies embrace water stewardship, there’s a unique opportunity to create synergy between water and biodiversity efforts.

You can go to the BioBA website to learn more: https://ceowatermandate.org/biodiversity/

Download the BioBA Guidance

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