BUU44703 The Business of Nature Positive

(20 ECTS)

Lecturer:

Catherine Farrell

Office Hours: By appointment via email, online only

Lectures: Semester 1 & 2: 16:00 – 18:00 Mondays (RM TBC)

Pre- Requisite: Not available to Exchange students

Module Description

“Nature positive is not a slogan – it is an ambitious goal and should not be used to imply something is green or nature-friendly. It refers to measurable outcomes that contribute to halting and reversing nature loss with significant benefits to society.”

Nature Positive Initiative, 2024

Nature Positive is a global and societal goal to address the degradation of nature. It mirrors the calls for Net Zero which relates to reducing carbon emissions and global warming. As such, businesses are beginning the process of disclosing their nature related ‘impacts’ and exploring ways to address negative impacts and achieve Nature Positive goals.

This module is designed to prepare students to work with businesses to address and report on nature related challenges, with a specific focus on biodiversity, to support their journey to Nature Positive. Maintaining a focus on current, relevant, and practical issues relating to business reporting, students will learn about the complexities of nature, and how emerging legislation, regulatory frameworks (such as the EU Corporate Social Responsibility Directive), and tools, have been developed to support business in the context of their own nature impacts and dependencies, as well as broader societal aims to reverse long-term trends in nature degradation.

This module presents an opportunity for experiential learning, with students participating in novel and emerging approaches to ‘transforming business for good’. Students will hear from experts working in relevant areas to the Nature Positive topic, having a unique opportunity to work directly with businesses, exploring appropriate ways for them to set, and achieve, their own Nature Positive goals.

Learning And Teaching Approach

Over the course of the module (two semesters) there will be weekly contact (with set sessions Mondays 4-6pm), and emphasis on discussion of pre-class readings of assigned materials. In person sessions will comprise a mix of seminars with invited speakers, and opportunities for workshops / discussions. Discussion and in-class workshops will be central to the learning process.

The weekly in person contact sessions will comprise a mix of:

Seminar style presentations (delivery of core content with weekly reading materials / videos / podcasts posted through Blackboard and prompts for self-enquiry).
Practical exercises in class, building on course content (flipped classroom approach).
Invited speakers from relevant expert areas and practical case studies with opportunities for debates and discussions.
Individual and group project work, incorporating working directly with businesses to explore Nature Positive frameworks and tools.
Field trips to local businesses either on and/or adjoining the Trinity campus will also be explored (pending practicalities and time permitting).

Note: This module will be delivered primarily in person with occasional recommended online learning (webinars / podcasts) and potential to join networking events (such as Trinity Business forum, and / or participation in TCD events through Sustainability and Green Week activities).

Learning Outcomes

The module will build on learnings throughout previous studies and modules in the degree programme to date, building particularly on topics related to sustainability. On successful completion of this module, participants will be able to:

Understand natural systems, nature related challenges (specifically biodiversity challenges), and how these ‘fit’ within the context of sustainability.
Demonstrate the use and/or limitations of reporting standards and disclosure frameworks emerging in this area.
Identify available and/or required data sets to track Impacts and Dependencies on nature (Double Materiality); and differentiate reliable data and sources of information.
Support business to address Risks and reduce impacts and nature related dependencies by formulating Opportunities and solutions available and/or relevant actions.
Communicate nature related challenges, and relevant legislation and policy.
Advocate (be a voice) for nature and promote nature positive outcomes within the business framing.

Relation to Degree

The module is integrative of the study of business, management, and entrepreneurship that participants have developed over the previous three years and during their Senior Sophister year. As such, it builds on participants’ former training in relation to human resource management, finance, marketing, and operations as well as strategy, organisation theory and behaviour, and sustainability, coupled with their interest in nature-related issues.

Participation in this module encourages students to take a cognitive approach in relation to what values and behavioural changes are required in terms of approaching nature related challenges, and leading business change, for Nature Positive futures.

The module aims, teaching approach and learning outcomes support the Trinity Graduate Attributes: To Develop Continuously, To Think Independently, To Act Responsibly, and To Communicate Effectively.

Workload

Content	Indicative Number of Hours
Contact hours (including seminar style presentations, workshops, debates, discussions, practical exercises, lectures).	20 x 2 =40
Preparation for lectures (reading of assigned materials, reflection on lecture and course content and practical exercises).	20 x 4 = 80
Individual work: review of frameworks, standards, and tools (Semester I)	10 x 8 = 80
Business focus exercise (including pre business engagement work, meetings with businesses, report writing, class presentations, etc).	10 x 20 =200
Article / critique: topic selected from those presented in the module / or a reflection across module content.	1 x 20 = 20
Total	420

Textbooks And Required Resources

Readings will be identified prior to each lecture and will comprise mostly online available reading (scientific articles, opinion pieces, reviews) and some background textbooks. This area is nascent and as such, is in continual development. Core texts around valuing nature, how businesses can act for nature and legislative requirements will form the basis building blocks.

Required core reading(s)

The Dasgupta Review: (download here), most relevant chapters:

Chapter 0 How We Got to Where We Are

Chapter 1 & 2 Nature as an Asset, Biodiversity and Ecosystem Services

Chapter 3 & 4 Biospheric Disruptions, Human Impact on the Biosphere

Chapter 4* The Bounded Economy

Chapter 5 Risk and Uncertainty

Chapter 17 Managing Nature-Related Financial Risk and Uncertainty

Chapter 16, 19 Conservation of Nature, Restoration of Nature

Chapter 20 Finance for Sustainable Engagement with Nature

Chapter 21 Options for Change (how can we address our Nature Challenge).

Planetary boundaries: Katherine Richardson et al. (2023) Earth beyond six of nine planetary boundaries. Sci. Adv.9, 2458 (2023) DOI:10.1126/sciadv.adh2458 https://www.science.org/doi/10.1126/sciadv.adh2458

ESRS (European Sustainability Reporting Standards) implementation guidance documents, issued by EFRAG (European Financial Reporting Advisory Group) 31 May 2024:

EFRAG IG 1 Materiality Assessment (read first!)
EFRAG IG 2: Value Chain;
EFRAG IG 3: Detailed ESRS Datapoints and accompanying Explanatory Note.

EU B&B platform (2024) Thematic Report On Biodiversity Disclosure 2024 (download here). This report focuses on biodiversity within the respective disclosure initiatives and highlights the major differences and similarities.

Business for Nature (2023) The Nature Strategy Handbook. Download here.

General Supplemental Readings

Lovelock, J. (1979) Gaia: A New Look at Life on Earth. Oxford, and other works by James Lovelock in relation to Gaia theory.

High level findings from WEF Global Risks Report 2024 can be read here (key findings) and the main report can be found here.

From an Irish nature perspective: The National Biodiversity Action Plan: the Executive Summary and The Five Objectives are relevant.

Raworth, K. (2017) Doughnut Economics: Seven Ways to Think Like a 21st Century Economist. White River Junction, Vermont, Chelsea Green Publishing. Chapter 1 available to download here.

Student Preparation for the Module

The Dasgupta Review: (Download here). It's a comprehensive overview and worth reading the opening chapters (Chapters 0, 1 & 2) prior to starting the module. Downloadable here: Full Report:

Chapter 0 How We Got to Where We Are

Chapter 1 & 2 Nature as an Asset, Biodiversity and Ecosystem Services

Documentaries and videos as introduction are useful, such as

Breaking Boundaries: The Science of Our Planet, with David Attenborough (available on Netflix (trailers here).
Saving our Wild Isles, watch here.

Useful links (introductory)

Assessment

Assessment will be conducted through focused project work, and an article based on student’s key learnings over the course of the module / reflections on the module content / project work and learning by doing.

Sem.

Assessment title

Detail

Components

Grading method

Nature-related reporting: standards, tools, and frameworks (preparation for Semester 2).

Report based on outputs described in Appendix I.

Class presentation.

Report hand in Semester 1, Week 13.

Presentation in class / to peers (week 9/10 tbc); submission.

Lecturer

Completion & Group Q/A

20%

10%

1 &

Working with a business: readiness to report on biodiversity-related disclosures.

(Individual or group work, dependent on class number).

Report based on outputs described in Appendix I.

Class presentation.

Report hand in Semester 2, Week 13.

Presentation in class / to peers (week 9/10 tbc), submission.

Lecturer

Completion & Group Q/A

40%

10%

Article / Blogpost (reflective piece).

1,500-word submission (based on module content & student learnings).

Pitch to peers mid-way Sem 2.

Copy hand-in Semester 2, Week 13.

Completion & Group feedback

Lecturer

10%

Biographical Note

Dr. Catherine Farrell CIEEM is a Senior Research Fellow in the School of Natural Sciences and Adjunct Teaching Fellow in the Business School at Trinity College Dublin. A pioneer of nature restoration and research in Ireland and internationally, Catherine also worked to pilot the UN SEEA Ecosystem Accounting framework at catchment scale in Ireland through the EPA funded INCASE project.

Prior to INCASE Catherine was Senior Ecologist with Bord na Mona (2001-2019), where she worked to promote and develop peatland restoration and rehabilitation. A long time self-employed ecological consultant, Catherine has worked on a number of development projects (such as roads, electricity networks, housing, water provision, amenity), she also led the LIFE on Machair project (2022-2024), working with Ireland's rare and unique species-rich coastal grassland habitats. Her current research as part of BiOrbic, the National Bioeconomy Research Centre, focuses on developing mechanisms to structure, finance, monitor and communicate the direct impacts and broader societal benefits of nature restoration.

A founding member of Natural Capital Ireland, Catherine has a strong commitment to community and business engagement and innovation through nature conservation and works to bridge and build connections from local / SME (bottom up) to national / corporate scales, while recognising the integral need for strong and functional governance systems (top down). Catherine has worked with Business in the Community Ireland to help build awareness within companies and liaises directly with the Business for Biodiversity Ireland Platform.

Catherine is presently a Director of Hometree (a woodland charity based in Co. Clare) and supports the Community Wetlands Forum in an advisory capacity.