The business case for investing in biodiversity data

1. The private sector is increasingly aware of its dependence on biodiversity and the financial risks and opportunities involved. This has generated a lot of demand for investing in nature-positive solutions. There is an obvious and non-negotiable basis for such initiatives: biodiversity data. Without this data and the tools built from it, no actor can assess the effects on the ecosystems they rely on. We identify two key barriers to corporate biodiversity action: (1) lack of biodiversity data and (2) challenges with biodiversity data literacy, i.e. the domain knowledge necessary to apply data products for decision making in appropriate contexts. Building on this, we present an end-to-end framework mapping biodiversity data to data products and business use cases, to establish a shared language between business and biodiversity research. 2. First, we provide examples of new technologies for generating biodiversity data at unprecedented scales, such as environmental DNA, computer vision and audio monitoring. We discuss the large amount of biodiversity data available in open databases, with a focus on the Global Biodiversity Information Facility (GBIF), including their origins, limitations, and biases. We highlight the one billion untapped primary biodiversity data points in natural history collections, and the opportunity to mobilise them into open databases using technology at relatively low cost. 3. Second, we discuss biodiversity data products, focusing on the ability to interpret, communicate, and effectively apply biodiversity models, metrics, and tools in relevant contexts. We address the challenges posed by the complexity of biodiversity, the importance of its definitions, and the use of aggregated metrics for biodiversity and ecosystem services in reporting, including the role of nature tech. 4. Third, we present the business case for investing in more and open biodiversity data, with examples of actions by companies and the finance sector. We also propose a mechanism to incentivise and reward direct investments in biodiversity data mobilisation. In conclusion, we call on businesses to prioritise financial investment in biodiversity data collection and mobilisation, to create better data products that can accelerate deployment of solutions to the biodiversity crisis.