• More than 100 major corporations including Nestle, Danone and Velux renew support for Nature Restoration Law ahead of ENVI committee vote

• Report reveals extent of economic risk with 60 per cent of companies listed on Euronext, with market value of 3,26 trillion Euros, have high or moderate dependence on nature - with retail, food and beverages most exposed

• The Corporate Leaders Group Europe (CLG Europe) report highlights that more than 80 per cent of the EU's natural habitats are in a state of decline, threatening businesses and the economy

• The ECB has found 3 million companies in the Euro area are highly dependent on at least one ecosystem service 

More than 100 leading European corporations including Nestlé, Danone, Velux, IKEA and Unilever are urging Members of the European Parliament (MEPs) to approve the Nature Restoration Law for the sake of the economy as the crucial final round of votes approaches. The ENVI committee vote takes place on November 29th and the plenary vote follows, currently slated for the new year. 

An influential alliance of European businesses, CLG Europe, warns that 60 per cent of companies listed on Euronext, the world's fourth-largest stock exchange by market capitalization, have a high or moderate dependence on nature - behind only the Taiwan Stock Exchange at 70 per cent. They say this places a market value of 3,26 trillion Euros under immediate threat and makes nature restoration the only sensible path for European economies. The threat is particularly pronounced for industries like retail, consumer goods, food and beverages, illustrating the economic imperative for robust nature restoration policies.

This follows the ECB's warnings that in the euro area, approximately 72 per cent of companies (around three million individual companies) are highly dependent on at least one form of natural capital, and almost 75 per cent of corporate bank loans are granted to companies with a high dependency on at least one natural resource.

The report published by CLG Europe also stressed that more than 80 per cent of the EU's natural habitats are in a state of decline, threatening biodiversity, economic stability, and societal well-being. It advocates for comprehensive strategies that integrate nature restoration within broader sustainability and climate action. The businesses recognize their vital role in this endeavor and are committed to reversing the loss of nature through responsible practices.

The alliance of influential companies urges MEPs to acknowledge the critical nature of the situation and vote in support of the Nature Restoration Law in the ENVI committee on November 29th. They say Europe stands at a pivotal point for both the environment and the economy, and the vote represents a prudent move toward a secure future.

Bart Vandewaetere, VP ESG Engagement for Europe at Nestle said: 

"When nature is under pressure, the food system feels the impact. That's why Nestlé continues to stand by the Nature Restoration Law and its focus on helping regenerate natural resources, increasing biodiversity and restoring water cycles in Europe by supporting farmers and their livelihoods. We encourage MEPs to support this important piece of legislation"

Facundo Etchebehere, SVP Sustainability Strategy & Partnerships at Danone said:

"60 per cent of companies listed in Euronext, representing up to 3,26 trillion Euros in value, have a high degree of reliance on nature. This includes Danone, which is why we have made nature a core pillar of our Danone Impact Journey. Nature loss threatens food security, farmer livelihoods and the resilience of companies like ours.

"We cannot afford to see nature decline any further. We firmly support the Nature Restoration Law and encourage MEPs to recognize its importance for the future of our environment, food security, and industry in the upcoming votes".

Jamie Rusby, Group Sustainability Director at VELUX, said:

"VELUX is dedicated to environmental stewardship. It is essential to protect our nature from further decline, and the Nature Restoration Law will help move away from the 'business-as-usual' approach towards more sustainable growth and addressing impacts across value chains. This is important for protecting both our environment and our business: 60 per cent of the companies listed in Euronext relying on nature for their business. So protecting our environment is also protecting our business. We therefore urge MEPs to stay the course and support the agreement reached, for the benefit of our planet, people and economy".