There is an urgent need to re-think consumption and production and to take action to protect biodiversity and ecosystem services. The benefits of strong and early action outweigh the costs. Businesses must become game changers in shaping the required transformation towards sustainable production and consumption. Effective measures for the protection, restoration and sustainable use of biodiversity range from increasing transparency along the supply chain through committing to sustainable sourcing to streamlining resource use. Further recommendations include embedding circularity in business models by producing durable and recyclable products, as well as promoting sustainable consumption choices through better consumer information.