WWF BIODIVERSITY RISK FILTER TOOL FOR SUSTAINABILITY REPORTING: CASE OF FORESTRY AND PAPER SECTORS IN SERBIA

Abstract

Industries such as Forestry and Logging and the Production of Paper and Paper Products significantly impact biodiversity and its conservation. Sustainable operations in these economic sectors involve balancing economic goals, social responsibility, and environmental protection by reducing emissions, supporting communities, and innovating in resource conservation. This paper emphasizes the importance of sustainable forest management and the application of Environmental, Social, and Governance (ESG) reporting principles in the operations of companies in the Republic of Serbia to ensure timely and adequate biodiversity protection. It includes the importance of responsible business practices for biodiversity conservation, the standardization and legislative framework for sustainable development in the EU and Republic of Serbia, and an impact assessment analysis of companies in Serbia in two economic sectors: Forestry and Logging, and the Production of Paper and Paper Products. Using the WWF Biodiversity Risk Filter (BRF) platform, data from 3111 active and registered companies were analyzed using 33 WWF BRF indicators to evaluate their influence and their dependence on biodiversity.