VETPAW - VETPAW welcomes Peter Morton and discusses value of biodiversity for businesses

Peter Morton, a renowned businessman, joins VETPAW to support biodiversity and wildlife

The importance of wildlife biodiversity to businesses

Biodiversity loss is slowly yet steadily impacting not only human health, nutrition, climate but also businesses and economies. Considering how dependent mankind is on biodiversity and wildlife for its sustenance and well-being, it is every individual’s responsibility to contribute in direct or indirect ways to conserving this invaluable asset. VETPAW discusses in this blog how biodiversity and wildlife are crucial for businesses to flourish.

1. Increase in revenue

Businesses are massively dependent on robust natural ecosystems and individual species. Conserving this biodiversity and wildlife can lead to a substantial increase in business revenues.

The seafood industry stands to gain $53 billion annually from an increase in marine stocks. This could generate $5 billion to $10 billion each year to spend on preserving biodiversity.
The insurance industry could see an additional $52 billion by expanding the area of protected coastal wetlands with a similar investment.
Global crop production is estimated to be enhanced by $235 billion to $577 billion annually by protecting habitats of wild pollinators along with managed populations. Without an array of ecosystems and species, farmers will struggle to grow crops and ranchers will struggle to raise animals.
The pharmaceutical industry needs wildlife biodiversity to research and manufacture drugs and other health solutions. For instance, the pharmaceutical value of marine biodiversity for anti-cancer drug discovery could range from US$563 billion to as much as $5.7 trillion.

2. Reduce operational risk

Failing to adequately address biodiversity issues imposes risks on business operations. Here are a few risks that companies may face when they are not in alignment with conservation regulations and interests:

Challenges to its legal license to operate
Disruption of its supply chain
Damage to the brand image
Consumer boycotts and campaigns by environmental NGOs
Fines, third party claims for environmental damages, and future environmental liabilities
Lower ratings in the financial markets
Poor staff morale and reduced productivity

These challenges can delay and disrupt the operations of an organization leading to losses. As corporations seek to expand they will meet resistance from biologists and stakeholder scrutiny to play their role in conservation activities. This trend is already prevalent in various industries and will continue to increase as biodiversity losses continue.

Sustainable growth, appealing to ethical consumers, and attracting socially responsible investors are some profound advantages that organizations can tap into when they are socially and morally invested in the conservation of biodiversity.

3. Better investments

When organizations engage in activities that support biodiversity and its conservation, they earn a positive reputation. This enables them to attract lucrative investments and reduce their borrowing costs.

Currently, the existing efforts to preserve biodiversity are not only inadequate but also underfunded.

It is the responsibility of businesses that are dependent on biodiversity to contribute to its conservation. This is also a way to conserve their own business’s survival and expansion. Global biodiversity protection requires a massive amount of investment and only 1/10th of it is being invested annually.

Peter Morton joins VETPAW

Peter Morton, an American businessman, has been involved in many community activities over the years. He is now a member of the board of directors at VETPAW and is committed to transforming the lives of the people and wildlife in the African Savannah. With his experience and contacts, he is joining hands with VETPAW to fight against poachers and protect the biodiversity and wildlife in Africa.

In his own words "Joining the board of VETPAW is an honor. Wildlife poaching is a horrendous act that is becoming increasingly militarized, which is why conservationists and park rangers need advanced skills that only veterans can provide. We must do everything we can to support VETPAW's veterans and their mission."

Peter Morton’s commitment to the conservation of biodiversity and wildlife is an example of how businesses can impact global conservation efforts. This is a cause that affects every living being on the planet.

VETPAW - Veterans Empowered to Protect African Wildlife

Founded in 2013, VETPAW is a non-profit organization and a community of US war veterans dedicated to protecting African wildlife and training local African rangers in the war against poaching.