The Center for Biodiversity Outcomes is working with Bayer to develop a decision-making tool to estimate the range of potential operational, reputational, legal and regulatory risks associated with compliance with the U. S. Endangered Species Act.
The Endangered Species Act mandates that the U. S. Federal Government take actions to conserve threatened and endangered species and their associated ecosystems. Critical to the success of the ESA is engaging with the private sector to build understanding of how biodiversity conservation and business practices can be complementary and synergistic.
This tool will include an evidence-based comprehensive framework for assessing pre-compliance and compliance costs. It will not only provide critical value to decision-making in the private sector (e. g. providing cost-efficiencies, reduction of regulatory risks, enhanced stakeholder reputation), but will also increase awareness of sustainable practices.
For the agricultural industries, in particular, it is important to estimate the costs of compliance concerning actions affecting species already listed or under consideration for ESA listing. Understanding these costs would allow companies to make more informed decisions around regulatory risk and help to understand protection for endangered species.