On the invitation by the Ministry of Environment, Forests & Climate Change (MoEFCC), Government of India, CII had launched the India Business & Biodiversity Initiative (IBBI) with the support of the German International Cooperation (GIZ) on 22 May, 2014 which is celebrated as ”The International Day for Biological Diversity (IDB)” by the United Nations to increase understanding and awareness of biodiversity issues. The IBBI is structured as a broad-based multi-stakeholder initiative involving the business, government, non-government organizations and academia.
On 22 May, 2015 IBBI, after a year of its launch, released its second publication “Bridging Business and Biodiversity: Innovative Approaches,” which focuses on a step-wise process for companies to understand their business impacts and dependencies on biodiversity and ecosystem services (B&ES). The report highlights the concept of Natural Capital and its relation with B&ES. In addition, it familiarizes the global platforms for Natural Capital and also IBBI’s part in it. Various tools are introduced incubated by IBBI for companies to help them identify direct and indirect impacts (both positive and negative). The best practices adopted and the benefits accrued in relation to B&ES, by six pioneering companies who have shown leadership in preserving biodiversity by sustainable management of natural capital are also detailed.
The report was released on the occasion of the "International Day for Biological Diversity" on 22 May, 2015 at Srinagar alongside a MoEFCC event.