At the inaugural Africa Climate Summit held in Nairobi last month, a group of philanthropists and conservationists seized the opportunity to champion vital reforms within the international financial framework. Their focus extended to the exchange of innovation, knowledge, experiences, and practical strategies aimed at combatting climate change.
Among the critical areas of concern, deserving ongoing commitment and investment in the fight against climate change, is biodiversity. The interplay between climate change and biodiversity is both intricate and constantly evolving.
Climate change poses a significant threat to the existence of various species, potentially driving them to the brink of extinction. Simultaneously, the diversity inherent within species forms the bedrock of evolution, enabling species to adapt to new and changing environments.
These species, in turn, serve as the fundamental building blocks of ecosystems, playing a vital role in their recovery from the adverse impacts of climate change.
Within this context, companies operating in the extractive industry bear a unique opportunity and a concomitant responsibility to contribute to the preservation of biodiversity as a means of mitigating climate change.
As the effects of climate change become increasingly evident through erratic weather patterns, prolonged droughts, and devastating floods, conservationists and policymakers are urging extractive industry firms to integrate biodiversity conservation into their operations.
One key approach is the assessment of biodiversity risk, marking a significant shift in the landscape of responsible business practices and sustainability within the extractive industry. The risk-based approach mandates that biodiversity considerations are incorporated throughout all operational phases, ranging from extraction planning to eventual site closure.
Specific measures for conserving biodiversity are tailored according to the perceived value and expected impacts on biodiversity and ecosystems, with resource allocation aligned to levels of risk.
During the planning phase, the focus is on both avoiding and minimizing impacts, with particular emphasis on high-value biodiversity sites and species facing global risks. This stage is instrumental in identifying potential pitfalls and red flags, offering the company the option to discontinue investments if biodiversity-related risks outweigh opportunities.
In the operational phase, companies continue to work on minimizing their impacts and enhancing biodiversity through targeted actions. Site closure planning involves rehabilitating the site in a manner that aligns with biodiversity and sustainable land use principles.
This approach is exemplified by companies like Bamburi Cement, a subsidiary of the Holcim Group, which is actively engaged in rehabilitation and biodiversity conservation initiatives. Their efforts serve the dual purpose of acting as carbon sinks and reducing carbon emissions in the production process, ultimately working towards achieving net-zero emissions.
Bamburi reclaims mine wastelands and transforms them into safe environments, incorporating wetlands, forests, and grasslands to conserve a wide range of wildlife. Bamburi’s Haller Park and Forest Trails are global showcases of sustainable mining, housing an impressive array of plant and animal species. These initiatives are instrumental in accelerating ecosystem restoration and promoting environmental sustainability.
Beyond climate regulation, the importance of biodiversity is underscored by its manifold benefits to humanity. These benefits encompass flood control, disease regulation, and water purification.
Vital resources such as oxygen, food, fresh water, medicine, and shelter are all sourced from diverse ecosystems such as forests, grasslands, mangroves, and rivers.
Moreover, living organisms within their respective environments contribute to essential materials like wood for construction, fibers for clothing, and genetic resources for medicines and crop security.
The well-being of individual species and the overall diversity of ecosystems enhance climate resilience, a factor critical for human survival and overall welfare.
Consequently, the extractive industry confronts a collective challenge in making substantial contributions to climate change mitigation and adaptation through active engagement in biodiversity conservation.
