LimnoTech is partnering 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.
Butterflies lined up along a water's edge.

Location:
Global

Clients:
Pacific Institute

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

Service Areas:

Our Expert:

LimnoTech is partnering 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 to corporations, helping to 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 currently exists for how corporations should account for biodiversity-related benefits of their water stewardship projects.

How Are Helping

The Pacific Institute, CEO Water Mandate, LimnoTech, Second Nature Ecology + Design, and TNC are developing 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 businesses and associated project partners investing in water stewardship activities with clear guidance on how to:

1. Incorporate biodiversity objectives into water stewardship strategies and projects.
2. Select appropriate indicators, metrics, and methods to evaluate the biodiversity benefits of water stewardship projects.
3. Communicate the biodiversity benefits of water stewardship project implementation in scientifically defensible language for internal and/or public communications.

BioBA will be 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, and support the development of the BioBA methodology in the next phase of work.

The second phase of this work is in process. It focuses on the development of the BioBA guidance and methodology, which will provide a standardized approach for monitoring and reporting biodiversity-related outputs, outcomes, and impacts of investments in corporate water and ecosystem stewardship activities.

The first draft of the guidance and methodology has been reviewed by corporate sponsors and an Expert Advisory Group, with positive feedback. The team is currently applying the guidance and methodology to real-world case studies of corporate water stewardship projects. The aim is 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. Peer review of the guidance and methodology is expected after incorporating partner feedback and case studies into the draft.

The project team includes ecologists, researchers, environmental and water resources engineers and scientists, and partners in corporate sustainability strategy. This work is supported by corporate funding partners and reviewed by a volunteer Expert Advisory Group, including representation from numerous NGOs, academia, public sector agencies, international organizations, and research organizations.

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/

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