What occurred on the biodiversity COP, and why it issues to enterprise

We’re practically midway by 2022 however are already seeing a world on hearth, each actually and figuratively. Local weather change is causing heatwaves, difficult meals manufacturing, disrupting provide chains and threatening livelihoods. The calls for on enterprise are compounded by the escalating battle in Ukraine and skyrocketing inflation.

Whereas firms grapple with the rapid influence of those crises, it may be laborious to consider the long-term imaginative and prescient of sustainability. Nonetheless, not doing so comes at the price of their very own future. As a recent IPCC report found, the window for motion is closing, and the results of local weather change and nature loss have gotten insufferable.

An bold and implementable worldwide settlement on nature will assist set the route for company motion.

Some of the efficient methods companies can contribute to a sustainable future is by calling for bold environmental insurance policies, which might set the route of journey for all actors and catalyze funding and motion. Whereas the Paris Settlement was a rallying level for companies on international warming, one other United Nations settlement — the Post-2020 Global Biodiversity Framework — might have the identical influence for nature. In preparation for the fifteenth Convention of the Events (COP15), the U.N. Convention on Biological Diversity (CBD) lately held its newest spherical of negotiations on the Framework in Geneva.

Right here’s a abstract of what occurred.

What number of companies confirmed up on the Geneva talks and why is it essential?

Greater than 40 firms and organizations — together with Unilever, Citi, Natura, H&M Group, Holcim, GSK, Walmart, IKEA, Nestlé and L’Occitane and such organizations because the Capitals Coalition, WBCSD, CEBDS and the Worldwide Chamber of Commerce — joined Enterprise for Nature’s delegation in Geneva. It was the primary time so many progressive companies have turned up at a nature negotiation pushing for larger ambition.

As was the case for the 2015 Paris Local weather Settlement, an bold and implementable worldwide settlement on nature will assist set the route for company motion, unlock new enterprise alternatives, create a stage taking part in subject and secure working surroundings for companies. The voice of enterprise is subsequently essential in influencing a profitable consequence.

How was enterprise perceived on the CBD conferences?

The voice of progressive enterprise was welcomed and the actual fact they had been bringing transformative proposals into the discussions. Elizabeth Mrema, govt secretary of UN Biodiversity, commented: “We must always give credit score to the companies already taking voluntary motion. We want companies to be an agent for change.”

This displays the quickly rising momentum from companies advocating for nature. Greater than 1,100 firms, with mixed revenues of $5 trillion, are urging governments to undertake insurance policies now to reverse nature loss by 2030, a recognition of the rising dangers climate action failure, extreme weather events and biodiversity loss pose to enterprise.

What did the Enterprise for Nature coalition name for on the negotiations?

Companies referred to as for a lot of components of the draft International Biodiversity Framework to be strengthened, together with:

  • Urging governments to encourage, incentivize or compel enterprise to behave to guard, restore and preserve nature by necessary necessities to evaluate and disclose their impacts and dependencies on nature; setting an bold goal to scale back their detrimental impacts by 50 %; and addressing these impacts throughout their operations and worth chains. Through the negotiations, The Taskforce on Nature-related Monetary Disclosure (TNFD) launched the first beta version of its nature-related risk-management and disclosure framework. Alongside The Science Based mostly Targets Community, TNFD will assist with implementation of an bold goal on the position of enterprise.
  • Asking for a stronger goal on subsidies and for governments to decide to redirecting, repurposing or eliminating all environmentally dangerous subsidies by 2030. This follows a latest research in collaboration with The B Workforce, which discovered that the world is spending at least $1.8 trillion on subsidies that harm the environment.
  • Stressing the must undertake a transparent and easy mission to “halt and reverse biodiversity loss by 2030.” This was encouragingly supported by greater than 300 organizations who called for governments to adopt this mission. Simply forward of the negotiations, 14 of the world’s largest NGO’s, together with The Nature Conservancy, WWF and enterprise leaders together with Paul Polman, published a new paper setting out how the world can observe progress towards reaching a nature-positive world, by measurements designed to quantify the upkeep and enchancment of pure processes, ecosystems and species.

Extra particulars can be found in Enterprise for Nature’s full position on the Framework.

How did the CBD talks go?

It’s honest to say the negotiations didn’t replicate the sense of urgency that science calls for. Whereas main companies confirmed up in power urging governments to go additional, limited progress and consensus was achieved, with a lot discuss and little decision. Consequently, an extra negotiation assembly will happen June 21-26 in Nairobi, Kenya.

What can enterprise do now?

Whereas the Framework continues to be underneath negotiation, we can’t afford to attend till it’s adopted to begin appearing. Corporations ought to remodel their enterprise fashions and take no-regret actions right this moment. This contains making certain their supply chain is deforestation-free, creating new products and revenue streams, investing in protecting and restoring ecosystems and including nature in decision-making.

They will additionally advocate for bold insurance policies by signing the Nature is Everybody’s Enterprise Call to Action. On the highway to COP15, they will share Enterprise for Nature’s policy position with native governments and amplify nature messages publicly to push nature up the worldwide agenda.

What must occur subsequent?

We want political management forward of the ultimate UN CBD COP15 negotiations, as a consequence of happen in Kunming, China later this yr, to ship an enabling surroundings that can remodel our regulatory and monetary programs to acknowledge our shared accountability and accountability.

A recent report exhibits an unlimited hole between leaders’ pledges, commitments and declarations on motion on nature and the draft international biodiversity plan being negotiated.

Now could be the time for companies and governments to work collectively on this once-in-a-decade alternative and ship an equitable, internet zero and nature-positive future.


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