Nature Positive Role of the Offshore Wind Sector

Mapping strategies and actions by business function (continued) TABLE 7 Business function Potential strategies and actions required for a nature-positive transition Sales and marketing Promote products that have minimal impacts on nature and biodiversity and develop solutions that both reduce nature impact and offer additional utility or benefits to consumers Provide disclosure on impacts and dependencies of products, especially as customers may expect more information on nature footprint, which requires transparent and traceable supply chains Develop a holistic understanding of customer segments and willingness to pay for greener products Investor relations Disclose nature-positive initiatives and their impact on company performance (e.g. company commitments to water stewardship, sustainable sourcing and circular economy practices) Highlight contributions to global frameworks like the Kunming-Montreal Global Biodiversity Framework Manage investor engagement on nature topics to ensure transparency on priorities from both sides Public affairs Advocate nature-positive action in the public space Collaborate with policy-makers, regulators and other standard-setters to develop effective, progressive policies, regulations and standards supporting the transition of the sector (e.g. the United Nation’s global plastics treaty) Source: Adapted from McKinsey & Company. (2022). The net-zero transition: What it would cost, what it could bring. Nature Positive: Role of the Offshore Wind Sector 44