Towards increased transparency in company communications
Biodiversity is now firmly on the radar of the top beauty and food companies. Over the last five years, attention for biodiversity in corporate communications has steadily risen. In the beauty industry, for instance, the number of companies mentioning biodiversity has tripled since 2009.
The amount and quality of information on biodiversity in corporate reporting remains limited. Often, references are restricted to few supply chains such as palm oil or paper. Looking forward, it is clear that corporate reporting will need to link the concept of biodiversity with its discussion of policies and practices along all its supply chains. Information will need to be clearer and more comprehensive. This is essential to respond to consumer expectations towards companies and to build public trust.
An emerging issue in corporate communications is Access and Benefit Sharing (ABS). In 2016, twelve companies of the top 100 beauty industry mentioned ABS, compared to only one in 2009. Such increased attention follows the adoption of new international and EU rules on ABS in 2014. As companies establish policies and procedures to comply with evolving ABS rules around the world, references to ABS should continue to rise.