2017–2020 Summary report: A collaboration of The Nature Conservancy and Dow, Inc.
SOURCE: DOW
DESCRIPTION:
In 2011, The Nature Conservancy (TNC) and Dow began a journey to demonstrate that integrating the value of nature into business decisions can lead to better business and conservation outcomes. The collaboration team conducted extensive research and developed new tools to demonstrate how a company like Dow can include nature in its business operations.
For much of the first six years of our collaboration, the focus was on developing research and tools that qualified nature's value in different types of projects, including coastal marsh restoration, reforestation, and watershed enhancement. In 2015, this research encouraged Dow to issue its groundbreaking 2025 Valuing Nature Goal, through which Dow became the first major corporation to commit to considering nature in nearly all of its business decisions, while committing to create $1 billion in business value through projects that are good for business and better for the environment. Following the launch of Dow's Valuing Nature Goal, the collaboration focused its efforts on implementation of the goal across Dow's global operations. Although we had robust research and tools, we quickly learned that integrating the concept into Dow's culture required direct interaction with site staff, who lead project development and delivery and support Dow's everyday business and operations. Over the next few years, the collaboration team visited more than 25 sites on five continents to educate employees on the Valuing Nature Goal, leverage project learnings, and learn how to improve the research and tools to encounter broader adoption. Through this engagement, we have learned that much of the core efforts that Dow teams are already engaged in, through operational efficiency projects including waste, energy, and water reductions, have a benefit to nature, though not previously recognized as such.
To date, Dow has recognized more than $500 million in net present value through projects that are better for business and better for nature, This recognition highlights the win-win proposition provided by nature-based solutions as well as our desire to stay at the forefront of developing cutting-edge analyses and tools needed to provide the robust science necessary for making and execution. Dow is well on its way to achieving its target of $1 billion by 2025.
As we move into the 11th year of the collaboration, we have expanded the scope of the collaboration to include topics of mutual interest to both organizations: coastal resilience, watershed improvement, and climate. These areas of expanded focus align with TNC's vision of achieving a future where people and nature thrive. More specifically, the work of collaboration will help tackle climate change, protect land and water, and build healthy cities. In addition, we will continue to work to implement Dow's 2021 Valuing Nature Goal.
As always, we will continue to share our progress. From published journal articles to media coverage and events around the world, we are always looking for new ways to reach the audiences that could benefit from the groundwork we have laid and join us in our jounrey to value nature.
We welcome any questions or feedback you may have and look forward to working with you on our collective sustainability efforts.
Sincerely,
Mary Draves
Chief Sustainability Officer & Vice President of Environment, Health & Safety
Dow
Lynn Scarlett
Chief External Affairs Officer
The Nature Conservancy
*The Nature Conservancy does not audit or collaborate with Dow on the tracking of its Valuing Nature Goal metrics. The Nature Conservancy supports Dow's implementation of the Valuing Nature Goal exclusively through the development of tools and processes related to integrating nature into business decisions.
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KEYWORDS: NYSE:DOW, Dow, The Nature Conservancy (TNC)
