ISPT announces action on biodiversity through partnership with CSIRO

ISPT has announced an industry first partnership with the Commonwealth Scientific and Industrial Research Organisation (CSIRO) to understand ISPT’s relationship to nature and how biodiversity can be further supported through priority actions.

As part of CSIRO’s NatureIQ™ Early Adopter Program, ISPT has partnered with the national science agency to trial the NatureIQ platform, enabling ISPT to measure its impact on nature, including mapping our assets to evaluate ecological impact over time, and provide analysis on priority actions to restore nature with the greatest biodiversity impact. ISPT is the first Australian property company to join the program alongside eight other prominent Australian companies.

Understanding the biodiversity surrounding our properties is a key initiative to becoming nature positive, as we look to evolve our current ESG Strategy beyond 2025. Key to this will be to establish a baseline understanding of ISPT’s relationship with nature – how our business activities depend on and impact nature surrounding our properties – and to develop a high-level roadmap for action to integrate nature into our broader ESG strategy and program of actions.

According to the CSIRO, natural habitat loss and degradation are significant threats across Australia and the world. Fifty per cent of global Gross Domestic Product (GDP) is moderately or highly dependent on nature to provide goods and services. Leveraging decades of scientific expertise, CSIRO has developed NatureIQ™, an online assessment platform, to provide organisations with the natural capital indicators they need to make informed business decisions about their interactions with nature and achieve nature-positive goals.

Chief Sustainability Officer, Steven Peters, commented, “Participating in the CSIRO early adopter program to trial their NatureIQ platform will enable us to map and measure our ecological impact over time and provide important analysis on the priority actions needed to support biodiversity. We’re proud to be one of only nine companies in Australia to join the program and take this important first step.”