IUCN and XLRI conducted Business-Biodiversity Conclave in India

The event convened government officials, business leaders, academics, and conservation experts to explore the intersections between sustainability, biodiversity, and corporate responsibility.

Dr Yash Veer Bhatnagar inaugurating the Conclave 2025. Photo: XLRI 

In his special address, Mr. Sourav Roy, CEO of Tata Steel Foundation, emphasized the importance of connecting boardroom strategies with grassroots realities and called for the convergence of market and non-market approaches to biodiversity conservation. 

The keynote address by Ms. Shailja Singh, IFS, Principal Chief Conservator of Forests and Head of the Jharkhand State Biodiversity Board, underlined the legal, ecological, and economic imperatives of conservation. She urged businesses to adopt leadership roles and leverage emerging technologies such as AI, machine learning, and the Internet of Things (IoT).

Fr. S. George, Director of XLRI, emphasized the crucial role of educational institutions in shaping leaders who integrate biodiversity and natural resource awareness into business strategy and management.
 

Panellists at the High-Level Sessionon. Photo: XLRI

A high-level panel discussion titled “Business and Biodiversity – Challenges, Opportunities and the Way Forward for Indian Business” featured insights from Ms. Smita Pankaj (IFS, PCCF, Jamshedpur), Ms. Vaishnavi Prabhakaran (Tata Power), Mr. Wei Hsien Lee (IUCN), Mr. K. Sourabh (Bureau of Indian Standards), and Mr. Pankaj Kumar Satija (Tata Steel), who addressed the unique challenges and opportunities in aligning corporate strategies with biodiversity goals in the Indian context.

The panel discussions emphasized the need to integrate biodiversity into core business strategies by aligning with frameworks like TNFD, NBSAP, and GBF, moving beyond CSR toward nature-positive actions. Speakers highlighted successful corporate initiatives, standard development efforts by BIS, and the importance of collaboration with forest departments for restoration and invasive species management. The discussions also pointed to key gaps in biodiversity offsets, community engagement, and innovative financing mechanisms like insurance for biodiversity risks.

Panellists of the Technical Session: Mr. Sourav Roy, Dr. Yash Veer Bhatnagar, Ms. Shailja Singh, Dr. Sanjay Patro, and Dr. Raghu Ram Tata (from left to right). Photo: XLRI 

The three-day programme offered a comprehensive curriculum covering the global importance of biodiversity and its direct and indirect linkages with the economy. Participants explored how various sectors both depend on and impact biodiversity, with real-world case studies and experiences.

Sessions examined the role of businesses in ecosystem restoration and their contributions to the Global Biodiversity Framework and India’s National Biodiversity Strategy and Action Plan (NBSAP). The training also introduced participants to IUCN’s biodiversity management tools and frameworks, while exploring national policies, key legislations, and international commitments relevant to corporate action on biodiversity.

The sessions addressed the growing need for compliance and voluntary disclosures, focusing on the Taskforce on Nature-related Financial Disclosures (TNFD) and its alignment with corporate sustainability strategies in India. Participants gained insights into natural capital valuation, biodiversity-related financial risks, and the emerging concept of a Nature Positive approach. Key concepts such as No Net Loss and Net Gain of biodiversity were also introduced. Nature-based Solutions (NbS) were discussed in depth, including tools like the IUCN Green List, Other Effective Area-based Conservation Measures (OECMs), and platforms such as PANORAMA, all aimed at helping businesses embed conservation into project planning and investment frameworks.

The programme had participation from sustainability and environment representatives of leading private sector organizations spanning diverse sectors, including mining and extractives, finance and insurance, standardisation agencies, and fast-moving consumer goods (FMCG).

Participants attending a technical session. Photo: XLRI 

The sessions were facilitated by a distinguished panel of experts, including Dr. Raghu Ram Tata, Chairperson of the Father Arrupe Centre for Ecology & Sustainability and Professor of Strategic Management at XLRI; Wei Hsien Lee, Senior Technical Officer, Finance and Economics for Nature, IUCN Asia Regional Office; and Dr. Yash Veer Bhatnagar, Country Representative, IUCN India .

The virtual technical sessions were delivered by IUCN experts including Ms. Florence Curet, Senior Programme Manager – Business and Nature, IUCN Headquarters; Mr. Mohammad Khalid Sayeed Pasha, Regional Coordinator – Protected, Conserved and Heritage Areas, Asia Regional Office; and Mr. Abhishek Upadhyay, Member, IUCN Commission on Ecosystem Management and representative from PwC India. The event was smoothly coordinated and supported by Ms. Sushmita Prabu, Private Sector Engagement Assistant, IUCN India.

This conclave marked a key milestone under the MoU signed between IUCN and XLRI on 9 November 2024, aiming to build capacity and foster dialogue on integrating biodiversity into business decision-making. This is the first joint initiative, and the learnings from this engagement will serve as a stepping stone for the next session, which could potentially be hosted at the Delhi campus later this year.