The technical adaptation of LIFE Methodology for Business and Biodiversity to the reality of the 27 countries of the European Union has completed another stage.
After the technical adaptation of the Standard and base values for calculating the metrics that incorporate the methodology, the pilot phase was carried out with four business units of two multinational companies in the energy sector, involving photovoltaic, wind, thermal and natural gas electricity generation.
During the pilots, the methodology modules were implemented and the following metrics were calculated: Biodiversity Pressure Index (BPI), Biodiversity Positive Performance (BPP), and Biodiversity Minimum Performance (BMP). Also, eache company had the chance to evaluate its performance in meeting LIFE Biodiversity Management Standard, using the LIFE Key software.
The next step is to make a critical analysis of the results found, where the real data provided by these companies will support the technical calibration of the methodology and refinement of the software.
This analysis will be carried out by the recently established LIFE Europe Technical Committee, which counts with representatives from business, third sector and academy. In addition to the critical analysis of the results found in the pilots, the committee is also responsible for validating the European technical data incorporated in the methodology, validating the adapted documents and identifying opportunities for improvement.
After validation by the European Technical Committee, the Standard will be approved by LIFE Institute Board of Directors and, soon, the LIFE Business and Biodiversity Methodology and LIFE Key Europe will be launched.