Nature provides services worth over $125 trillion per year globally

The planet’s species population sizes have decreased by 70% since the 1970s. Yet while scientists have proven that biodiversity loss is intimately linked with climate change, it continues to be kept in the shadows of the climate agenda

As the Nature-based Solutions Conference kicks off at Oxford University this week, we speak to Professor Nathalie Seddon about why boosting biodiversity is essential to building the resilience of our ecosystems in a warming world – and why planting trees is not the catch-all solution some think it is.

LUX: The mass of living creatures in the world is undergoing a dramatic diminution. What are the effects of this?

Professor Nathalie Seddon

Nathalie Seddon: The statistics are startling. We have lost about 80% of wild fish from the oceans and 82% of wild mammals on land, so our habitats and natural ecosystems are basically empty. 97% of vertebrates on the planet are people and their livestock; only 3% are wild creatures that we share the planet with. 9 million hectares of tropical forest are cut down a year; and we’ve modified over 50% of land use.

Biodiversity is important for multiple reasons – material, cultural and spiritual. Our health is intimately linked to the health of all these ecosystems that we are currently destroying. Our nature systems support us in countless ways, providing clean air, water, food, and genetic resources. Over half of GDP depends on natural ecosystems, which generate over $125 trillion worth of ecosystem services each year – from reducing the impacts of droughts and protecting coastlines from flooding or forests from wildfires. These services are dependent on the species and the diversity of the species within them, and are incredibly important to our resilience in a warming world.

Follow LUX on Instagram: luxthemagazine

LUX: Why is there so little awareness around biodiversity loss?

NS: Climate still doesn’t get enough attention or funding, but it is considerably more prominent in discourse than biodiversity is. Our economy has also been developed on the assumption that nature’s resources are infinite. People assume that, with enough money, technology will come to the rescue. I think there is a fundamental reason to explain all of these: the age-old idea that humans are not part of nature but rather separate from it; that we must conquer nature rather than flourish as a part of it. This disconnect between humans and nature is the root cause, and therefore also part of the solution to the trouble we face.

Deforestation contributes to increases in temperatures and changes in rainfall patterns across the world

LUX: Are we at a turning point of the understanding of the importance of biodiversity – not just as a desirable end in itself but as an essential part of combating climate change?

NS: In principle, yes. In the international policy and business community, there’s a lot more talk about biodiversity and climate change as two sides of the same coin. But a lot more work is needed to make sure that there is a robust understanding of what that means in practice and how that translates on the ground. For instance, agriculture or commodity production are the biggest drivers of biodiversity loss and also the second biggest source of greenhouse gas emissions. Protecting and restoring our biodiversity can help reduce emissions, but about 23% of our emissions come from changes in the land use sector in agricultural and forestry and other land use, so improving what happens in those landscapes can also have important impacts on warming. It’s only still quite a small part of the solution.

There has been a step up in terms of the prominence and emphasis on nature as part of the negotiations on nature-based solutions. But there are huge misunderstandings, including a big conflation of commercial forestry with nature-based solutions. You can’t just plant trees and then delay decarbonisation and transition to renewables.

The Glasgow Science Centre played a key role in last year’s COP26 discussions

LUX: What are the most important steps leaders in business and wealthy individuals can take to combating this?

NS: A lot of businesses and governments are making net zero pledges, covering 90% of the global economy. But you look under the bonnet, and most of them are not underpinned by a really robust science based plan or any funding to enact it.

Talking about how nature, biodiversity and climate are connected is good, but we need to ensure that decision makers who are acting on that basis understand what that actually means in practice.That doesn’t mean offsetting carbon emissions by investing in cheap forestry plantations. It means doing everything they possibly can to reduce those emissions and reduce the damage that they’re doing to ecosystems within their supply chains whilst also investing in projects that are biodiversity based and community led and ideally doing that within their supply chains, which is a process that’s called insetting rather than offsetting.

Read more: Cary Fowler on Protecting the Biodiversity of our Planet

Offsetting is when a company will calculate its impact on climate or emissions so it will invest in probably some trees somewhere that probably shouldn’t be there and feel like it is addressing the problem. Insetting is looking within your own supply chain and investing in high quality, valuable projects within that supply chain, so insetting your damage to the biosphere and the climate within your supply chain. In doing so, you are not only meeting your ESG requirements but also increasing the value in resilience of the supply chain itself. It’s about investing in nature in your supply chains to reduce risk, operational risk, supply chain risks as well as reputational risk.

There is a real need to engage fully with the research community to ensure that those pledges can be met in a sustainable, ethical, biodiversity community-based way and so that’s where the work is. Public-private partnerships between researchers and businesses are really important. Companies in general should adopt a generative, circular economy model and then embed proper robust accounting on natural and social capital in their accounting procedures.

Humans have identified just 3 million of over 12 million complex life forms on the planet

LUX: Is it true that we are still discovering exactly how different species, seemingly unrelated, can have a dramatic impact on the health of the planet and the human race?

NS: There’s upwards of about 12 million complex life forms on the planet, and we have only named around 3 million of them. We don’t know what functions all those species play in the ecosystem, we just know that all species matter and that we can’t afford to lose the predicted 1 million species by the end of the century.

That diversity gives ecosystems the resilience they need in a warming world. It’s like having a diverse investment portfolio – the more different sorts of investments you have, the more likely it is to be able to weather the storm, in that case, a financial storm. In a natural world, the more species you have, the more likely it is that that ecosystem can deal with whatever is coming.

LUX: Are there any causes for hope, or is your feeling that we are doing too little too late?

NS: On one hand it’s all very frustrating because we’ve known for a very long time what causes climate change and what drives biodiversity loss, yet very little has been achieved. Put it into perspective: we have lost about 70% of species populations since the 1970s, despite a huge increase in the coverage of protecting it.

But there are lots of countries that are pledging to do the right thing: community and biodiversity based investments and nature-based solutions, at the same time as big commitments to renewables and reducing emissions. Costa Rica is leading on climate policy and the practice of renewables, plus large areas of land are under recovery and protection. [The same goes for] Moldova, Brazil, Chile and Cape Verde, at least on paper, in terms of how they’re incorporating nature into their climate change pledges.

There are also various companies that are taking a high integrity approach to tackling net zero. Netflix is an example of that: they are reducing emissions across all of their operations as fast as they can, as well as investing in projects that are truly verified in terms of their carbon, biodiversity and social benefits. That’s the real point. You can’t invest in nature if you’re not also doing everything you possibly can to reduce emissions.

Nature-based solutions involve the sustainable management and use of natural resources to tackle socio-environmental challenges

LUX: Who are the laggards?

NS: Most of the main fossil fuel companies are talking about decarbonisation but they’re not making enough progress. We need to keep fossil fuels in the ground and we need to invest in nature. It’s not ‘either or’, and some of those big fossil fuel companies are just greenwashing their operations by claiming to invest in so called nature-based solutions which often just turn out to be short rotation commercial forestry plantations. That’s a live issue that needs to be fully addressed.

At the government level, many countries are investing in tree planting, while not ensuring that their existing biodiversity and intact ecosystems are protected properly, and in fact actively opening them up. Decisionmakers seem to think that growing a tree is the same as a tree which is in an intact ecosystem, yet science is really clear that there is no equivalent: you can’t recapture the carbon lost through destroying our intact ecosystem in a timely or sensible way through planting trees. .

Read more: Julie Packard: All In Together

LUX: How would you explain to an intelligent but distracted business leader that the loss of a seemingly trivial habitat in one part of the world can have a fundamental effect on people in the other?

NS: The earth is a big, interconnected system. Deforestation rates in the Amazon are increasing to meet global demand for beef and soya, but because Amazonia is a big water pump, this can cause changes in global patterns of rainfall, therefore compromising food security and causing supply chain issues. For the intelligent but distracted business leader who thinks that it doesn’t really matter if we lose all the monkeys or toucans from a forest, it does, because those species play a critical role in the ecosystems and we need to extract carbon from the atmosphere to keep all of us safe.

Ultimately, we need systemic change in how we run our economies. Our economic system prioritises material wealth and infinite growth on finite resources. Unless that changes, we won’t avert climate change and biodiversity. We need to think about circular and regenerative economies, and we as individuals need to enact big behavioural change as part of that. Otherwise, you’re just rearranging chairs on the Titanic.

Nathalie Seddon is Professor of Biodiversity in the Department of Zoology at the University of Oxford.

Find out more: naturebasedsolutionsoxford.org

Keith Breslauer congratulating a wounded British veteran during The Veteran Games

Keith Breslauer is the founder and Managing Director of private equity company Patron Capital, and a trustee and donor to numerous charities including the Royal Marines Charity and the Prince’s Teaching Institute. As part of our ongoing philanthropy series, he speaks to LUX about building bridges between charities and the corporate world, his work with disabled veterans and how philanthropy differs in the US and the UK

Keith Breslauer

LUX: What inspired your interest in philanthropy?
Keith Breslauer: I was brought up to believe that giving what you can is the biggest triumph in life. I took this belief and inspiration from my parents and religion into my career and to help create a platform to give what I can to those who need it, enable others to do the same and make a lasting difference.

LUX: Why did you decide to support the Royal Marines?
Keith Breslauer: I’m from the US where veterans are celebrated on both a public and personal level. However, when I moved to the UK twenty seven years ago, I was disappointed to learn that British war veterans often receive marginal public support. That is why I started ventures that manifested as fundraising for all veterans with a focus on volunteering for the Royal Marines Charity (RMA-TRMC).

Follow LUX on Instagram: luxthemagazine

LUX: What led you to create Patron Capital?
Keith Breslauer: Lehman Brothers allowed me to come to Europe and work on distressed assets, which was a niche sector of real estate at the time. I loved being in the UK – everyone said ‘Breslauer is a New Yorker, he’ll never stay’ – but I love that on a typical Friday night (pre-Covid) I have five-plus cultures and languages at my table. So, when Lehman Brothers asked me to go back to New York, I decided to stay and took the leap to start our business with a great team of partners and the rest is history.

Keith with Royal Marines and a team from the Royal Navy on a riverbank during their re-creation of Operation Frankton, which was sponsored by Patron

LUX: What are the principle benefits of a business involving itself in charity?
Keith Breslauer: We’ve worked hard for Patron Capital to be positioned as a leader of successful commercial business while also available for charitable good – rather than just donating funds. As a team we’ve built the business to be a bridge between charities like the Royal Marines and the corporate world. We can offer them everything from business plans, employment advice, office space, secretarial services, to our business contacts and expertise.

We also utilise our business to give a voice to the extraordinary people we raise money for. In 2017, we established The Greatness Lectures, a forum to inspire, educate and create opportunities through Patron’s extensive business network. Through education, The Greatness Lectures can involve every member of the audience and ensure everyone has a part to play in the Patron value of ‘creating a positive change whenever and wherever required’.

LUX: How does philanthropy differ in the US and the UK?
Keith Breslauer: The key differences between the US and the UK lie in the construct of giving, the perception of philanthropy and the landscape of donors. In the US, it is not just tax-deductible, but also a status symbol for many and there are significant givers across the spectrum. However, while in the UK, it is a tax credit and the dynamic of it being a status symbol is far less prevalent – instead, there is much more grassroots support where individuals across the country might not give a huge amount, but they donate what they can on a regular basis.

Read more: Katrina Aleksa Ryemill on helping women in the arts

LUX: Is there anyone in particular who inspires you philanthropically?
Keith Breslauer: There are so many people, but I will always be inspired by Harvey Krueger, an early boss of mine at Lehman Brothers who is known for being the first banker to bring Israel, really, to the international capital markets. He embodied what it means to me to give as he gave a lot of his time and limited resources but remained focused on the primary objective of how to help those who needed it.

LUX: What feels more rewarding: enabling people to get involved in charity, or simply giving?
Keith Breslauer: I am a big believer in doing more than just giving. If you don’t immerse yourself in the act of charity, then you can only help on a superficial level and you will never understand the satisfaction of knowing what a difference you’ve made. To understand what a charity stands for – getting under the skin of why you’re trying to raise money – you need to endure some sort of hardship to help. You need to get know the people you are helping. At Patron, we encourage employees to take part in fundraising events that help people push their own preconceived limits. For example, in 2019, Patron sponsored Rock2Recovery’s flagship fundraising event – a sponsored climb of Ben Nevis in Scotland – and we were really proud to see an all-female team from Patron join the 140 climbers taking part. In total circa £26,000 was raised for the charity.

Keith (top) with his youngest daughter Samantha on Mont Blanc Massif, and at the summit of Pointe Percée

LUX: How has your religious background influenced your charitable work?
Keith Breslauer: My religious background is incredibly important to my approach to charity and giving – it’s the core of it really. For a start, a principle of the Jewish faith is to give away about 10% of what you earn, and I adhere to this with my time and money. Next, there is the concept of ‘tikkun olam’ which comes from Mishnah, a body of classical rabbinic teachings, and is defined by acts of kindness performed to perfect or repair the world. This is key to how I was raised and how I try to live my life; if you have the ability to make a difference then you should whenever and wherever you can.

LUX: What is the biggest lesson you have learnt in your lifetime?
Keith Breslauer: I have learned so much throughout my life and I am still learning, but one of the biggest lessons that has stayed with me comes from the late Lord Rabbi Sacks, and that is about working hard and seeing the possible where others see the improbable. We can achieve more than we think we can if we try.

Read more: Entrepreneur Wendy Yu on creativity & charity

LUX: How has Covid-19 affected your philanthropic efforts?
Keith Breslauer: In the first few months of lockdown, it was really difficult for everyone as no one knew what the future would hold – everyone suffered. We tried to stick to a routine at Patron and this is why we took the Greatness Lectures, a forum to educate and inspire the Patron team, our friends, and partners, online. This included “Reports from the COVID-19 Frontline” with Dr Seb Vandermolen and Nurse Laura Pinches, who had both been working on adult COVID-19 wards at St Thomas’ and St Bartholomew’s hospitals respectively.

Alongside our efforts to establish The Women In Safe Homes Fund, believed to be the world’s first gender lens property impact investment fund being launched as a solution to the lack of affordable, safe and secure homes across the UK for women and their children, who are experiencing homelessness or who are at risk, I’ve made a personal commitment of £1 million to demonstrate how important this fund really is. We’ve also organised a Greatness Lecture with Chloe McCardel and Jane Jutsum to share different perspectives on domestic violence and providing help and inspiration to its survivors. Chloe is an elite athlete whose love of marathon swimming helped her recover from post-traumatic stress disorder, and she holds the world record for the longest non-stop ocean swim – 124km. Jane Jutsum is Director of Business Development at Solace, a charity that exists to end the harm done through violence against women and girls.

All of our charities have suffered this year; the Royal Marines Charity (RMA-TRMC) alone needs £1.5 million of vital funds. We’re always looking for ways of raising money and connecting those who wish to help with any one of our 30 charities.

LUX: What has been the most surprising discovery in your philanthropic activities?
Keith Breslauer: The most surprising thing for me to discover is the significant impact we can have through the multiplier effect of dedicating both time and money, rather than just one or the other. Our initiatives focus on funding projects and events with the potential to harness a multiplier effect either driving further donations, raising awareness, or helping deserving individuals who have suffered injury, illness or disadvantage achieve personal goals and build self-esteem.

Keith with the in-house climbing wall at Patron Capital

LUX: What are your passions outside of business?
Keith Breslauer: I’m obsessed with mountain sports, especially skiing, and climbing. I even had a climbing wall fitted in our office. When I first moved to the UK, I was introduced to European mountaineering through a trip to Mont Blanc. My wife told me I was only allowed one trip, but I’ve been addicted ever since and have now climbed, notably; Old Man of Hoy, Denali and various summits and routes in the Mont Blanc Massif. I also strive to incorporate social impact into everything and anything I do. And, last but not least, my family – they are everything to me.

LUX: How have you combined those interests with charity work?
Keith Breslauer: My personal philosophy on life and in business is to lead by example. Through working with the Royal Marines Charity (RMA-TRMC), I’ve been able to share this approach undertake challenges with some extraordinary individuals that also raise awareness and funds for those in need. For example, in 2017, we sponsored The Royal Marines’ recreation of Operation Frankton, an 85-mile paddle and a 100-mile run described as the most courageous raid of World War II. This commemorated the 75th anniversary of the legendary feat which was immortalised in the 1955 film ‘The Cockleshell Heroes’ and raised money and awareness for the charity. I joined the team as we retraced the route of 10 commandos who paddled up the Gironde estuary in December 1942 to attack enemy German ships moored at the port of Bordeaux in occupied France, before making the 100-mile journey on foot to rendezvous with the French Resistance in Ruffec. Only two men survived to tell the tale – the others succumbed to hypothermia or were executed by the Germans – but the operation’s significance reportedly led Winston Churchill to say he believed the raid could have shortened the war by six months. For me, our re-enactment was a once-in-a-lifetime experience.

LUX: Should we expect to hear of any upcoming projects?
Keith Breslauer: I’m looking forward to working with disabled veterans as they take on new challenges, including in the near future with a disabled veteran Mark Bower. More generally, we have a range of both adventure projects and practical projects with different charities to drive reach and penetration where charities have lost traditional channels of outreach and fundraising due to the pandemic.

Find out more: patroncapital.com