How the COPs are driving businesses to move from promises to action - CECODES
This interview was originally published by Cecodes as part of their publication: Sosteniblemente
Eva Zabey, CEO of Business for Nature, highlights how the COPs are driving businesses to move from promises to action for nature.
SOSTENIBLEMENTE (S): How do you assess the role that recent Conferences of the Parties (COPs) have played in advancing global commitments and the involvement of the business sector in these efforts?
Eva Zabey (EZ): It has been encouraging to see the significant progress made, especially at recent COPs, like Biodiversity COP15. The adoption of the Kunming-Montreal Global Biodiversity Framework was a huge step forward. It provided a clear roadmap to halt and reverse nature loss by 2030, and sent a powerful signal to the business community: your contribution is essential. However, implementation of this agreement is now critical; without it, even the most well-meaning agreements become redundant. This is why at the UN Biodiversity COP16 last year, we saw an incredible show of force, with over 230 businesses and financial institutions coming together to support our COP16 business statement calling for renewed policy ambition on nature.
This collective business voice is so important because it gives governments the confidence to create and enforce the strong policies we need to level the playing field and accelerate action for nature.
Regarding business involvement, we've seen a real shift since COP16 where Business for Nature led a delegation of around 1,000 companies. COPs have evolved and are no longer just for governments; they've become a critical platform for civil society to engage and for businesses to step up and show leadership.
“COPs have become a critical platform for businesses to step up and show leadership for nature.”
S: Based on your experience, how can global campaigns contribute to the business sector’s role in global commitments through the COPs, and which collaboration mechanisms have proven to be the most effective?
EZ: Global campaigns are powerful tools for mobilizing the business community. They create a unified voice that give courage and comfort to governments by saying: "We're ready for stronger policies." Voluntary action alone won't get us to where we need to be. Campaigns like the one we coordinated for COP15 called ‘Make it Mandatory’ rallied all our coalition partners with a powerful call for action: for policymakers to adopt mandatory assessment and disclosure of nature impacts and dependencies for all large businesses and financial institutions. Otherwise, known as Target 15.
In just three weeks, we secured support from hundreds of businesses and financial institutions with revenues exceeding $2 trillion. We landed nearly 300 media articles across 40 countries and led a global digital campaign in multiple languages, resulting in 13 million impressions. Due to this incredible support, I had the privilege of being invited to give an expert opinion in the negotiations, which received a standing ovation.
The collaboration mechanisms we have found effective include our regional Partner Groups across Latin America, Asia and Africa. In Latin America, for example, we’ve brought together 14 organizations from nine countries. This has proven to be hugely successful – not only for sharing updates, knowledge and resources, but for brainstorming and exchanging ideas to design and implement campaigns tailored to the region. In Latin America, as elsewhere, a unified voice is always stronger than individual efforts.
S: At CECODES, we have provided extensive coverage of the COPs— particularly COP16, where we actively participated from Cali, Colombia. What joint actions could CECODES (representing the business sector) and Business for Nature (representing global coalitions) develop to strengthen the efforts and objectives set forth by the COPs?
EZ: It’s fantastic that CECODES was so involved in COP16 in Cali. It's a perfect example of the kind of collaboration we need. Business for Nature – focusing on driving credible business action and policy ambition together, would love to continue our partnership and build momentum.
Here are a few joint actions we could take:
Amplify our core messages: We can align our communications to make sure everyone hears the message that the Global Biodiversity Framework needs to be implemented faster and that all actors have a role to play. COP30 is also a perfect opportunity – and we are working with the We Mean Business Coalition on an advocacy toolkit for businesses to help all businesses speak up and help scale a more integrated nature and climate agenda.
Highlight local leadership: We could spotlight the amazing work that Colombian businesses are already doing to align with the Global Biodiversity Framework. Sharing their successes and the challenges they face can be a huge source of inspiration for others.
“Local–global alliances are key to accelerating the biodiversity and climate agenda.”
Engage with policymakers: By combining our influence, we can effectively engage with policymakers and share our messages. Align on national and international initiatives: We could collaborate on co-creating and promoting campaigns, guidance, and capacity-building efforts that support businesses in developing their own nature strategies. For example, the It's Now for Nature Accelerator Program led by Business for Nature, and the TNFD Nature Preparer Forum led by CECODES.
S: What concrete actions should companies take to align with the global biodiversity goals set out in the Global Biodiversity Framework?
EZ: We recommend following the high-level business actions on nature: Assess, Commit, Transform, and Disclose (ACT-D). It’s a practical way for companies to get started.
Assess: First, companies need to understand their own relationship with nature. This means looking at their entire value chain to see where they depend on nature and what their impacts are.
Commit: Next, they should commit to a science-based target for nature. It's great to see that over 150 companies are already working on setting these kinds of robust targets through the Science Based Targets Network (SBTN).
Transform: Next it’s transform. This means changing their business models and operations to not just stop nature loss, but to actually help reverse it. This includes embracing regenerative models and investing in nature-based solutions.
Disclose: Finally, companies need to be transparent. They should be disclosing their nature-related dependencies, impacts, risks and opportunities to investors and stakeholders. Over 500 organizations are already leading the way by adopting the recommendations from the Taskforce on Nature-related Financial Disclosures (TNFD).
ACT-D
Companies can align with global biodiversity goals by following ACT-D:
Assess their impacts and dependencies,
Commit to science-based targets,
Transform business models,
and Disclose transparently.
Our sector action guides developed with the World Economic Forum and the World Business Council for Sustainable Development, also outline the top actions that businesses in 15 sectors can take to contribute to an equitable, nature-positive economy.
S: From Business for Nature’s perspective, what role should businesses play in implementing the commitments made at biodiversity and climate COPs?
EZ: We see businesses playing a vital three-part role.
As implementers of action: Businesses must lead by example by taking concrete, scalable steps to protect, restore and sustainably use nature. This means integrating nature into their decision-making, developing and publishing credible nature strategies (like the 30+ companies who have had their strategies published through It’s Now for Nature), and being open about what's working and what the challenges are.
As advocates for policy: This part is just as important. Voluntary actions alone are not enough to achieve the systemic change we need. Businesses must advocate responsibly by ensuring their corporate policies support interventions and investments that halt and reverse nature loss.
“Business leaders share experiences and strategies to put nature at the heart of decision-making.”
By collaborating with governments: Governments must put in place policies that incentivize and reward the right action. This is how to create an enabling policy environment to ensure businesses can contribute to both biodiversity and climate commitments. Business for Nature has developed a set of 20 specific policy asks for how the level of ambition businesses called for by businesses at COP16 could be implemented by governments. These range from banning conversion in specific protected areas to moving towards regenerative farming models and adopting national sectoral transition pathways for high-impact sectors.
S: Can you highlight some leading examples of companies that have successfully embedded nature and sustainability into their core business strategies?
EZ: There are many encouraging examples of businesses stepping up their nature action. As part of the It’s Now for Nature global campaign, which encourages companies in all sectors and regions to use the Handbook to develop and publish a dedicated nature strategy, more than 30 businesses have now gone public with their nature plans – setting new standards of ambition and accountability.
Rabobank, renewable energy company Ørsted, cosmetics company L’OCCITANE Groupe, and Chilean paper and pulp business Empresas CMPC, were among the first organizations to have their nature strategies published through It’s Now for Nature, and they have shared the steps they have taken to develop and start implementing these. Rabobank found that 85% of their financial portfolio was heavily dependent on nature, from water availability to soil quality and the effects of climate change. This led them to integrate nature risks into their core banking processes and decision-making – for example monitoring and rewarding good on-farm biodiversity performance together with their partners within the value chain.
Companies like Unilever and AXA are also articulating the benefits of adopting models with reduced impacts on nature. Unilever has estimated that moving into plant-based foods could net the business €1.2 billion by 2025 while AXA, has committed $350 million through its Impact Investment Fund Climate & Biodiversity to activities that create nature-positive outcomes.
We’re seeing action in other parts of the world too. Sappi, a South-Africa based forestry and paper company, is supporting around 4,000 small-scale tree farmers to reduce their impacts on nature. The Taiwan Cement Company (TCC) is embedding nature-positive strategies into its operations with low-carbon cement alternatives now contributing 37% of the company’s revenue.
S: What are the main barriers companies face when trying to adopt regenerative business models, and how can the outcomes of the COPs help overcome them?
EZ: One of the biggest barriers is the lack of a strong, enabling policy framework. While many companies want to do the right thing, voluntary action is not enough. The large-scale transformation we need won't happen unless governments adopt and enforce ambitious policies, legislation, and incentives.
This is where the implementation of the outcomes of COPs at the national level becomes so important. Companies can help overcome these barriers by:
Driving policy ambition: The global goals set at COPs, like the Global Biodiversity Framework, send a clear signal that change is coming. These goals should be translated into ambitious national targets and support business actions. For instance, the adoption of national sectoral transition pathways would show each economic sector the most cost-efficient route to contribute to a nature-positive economy, aligning with net-zero transition pathways.
Encouraging regulatory frameworks: At COP15, governments committed to creating policies that require all large companies to assess and disclose their impacts on nature, as stated in Global Biodiversity Framework Target 15. Now we are seeing several countries, including China, Brazil, Ireland, Japan, and Mexico commit to implementing mandatory disclosure regulations by 2030.
Creating a level playing field: By committing governments to adopt robust policies, COPs help ensure that all businesses are operating under the same rules, which creates fair competition and equal access to opportunities for all businesses.
S: What outcomes is Business for Nature hoping to see at the upcoming COPs when it comes to integrating nature, climate, and the economy?
EZ: We’re really pushing for a more integrated approach to these interconnected crises. Our hope is to see outcomes that strengthen the link between climate and nature, moving us toward a nature-positive, net-zero and equitable economy.
We're specifically hoping for:
Stronger, integrated policies: We want to see governments adopt robust policies that will incentivize nature-positive actions and hold businesses accountable. Stable, coherent policy frameworks that link climate and nature are key to driving long-term investment and action, as they enable businesses to manage risks, seize opportunities, and support global goals. For example, tackling deforestation can advance both carbon reduction and biodiversity protection.
A focus on mobilizing and aligning finance: We need a clear focus on how to mobilize the financial resources needed to make the Global Biodiversity Framework a reality. Governments must increase public funding for nature and promote innovative finance mechanisms like blended finance to leverage private sector investment. Beyond increasing green finance, all existing public and private financial flows must be assessed and redirected to support nature, climate, and social goals. This includes aligning climate and nature finance to ensure both agendas are addressed together.
“Deforestation highlights the urgent need for stronger policies and business action to align climate, nature, and economy.”
Accelerated Implementation of the Global Biodiversity Framework: Implementation of the Global Biodiversity Framework needs to speed up, and everyone has to be involved. This is especially critical as COP30 in Brazil, the first "Amazon COP," is positioning nature at the center of climate action, emphasizing the importance of tackling deforestation, restoring ecosystems, and supporting Indigenous stewardship.
Improved transparency and accountability: We hope to see increased transparency and accountability for business actions. Globally recognized sustainability reporting standards (GRI and ISSB) and frameworks like the TNFD enable companies to disclose their impacts, risks, and opportunities in a consistent and comparable way. Strengthening the role of disclosure ensures that business advocacy for ambitious climate and nature policies is matched by clear evidence of delivery.
S: How can we ensure that the commitments made at COPs go beyond pledges and translate into tangible, measurable action?
EZ: That’s a critical question. To make sure commitments lead to real action, we need everyone to be involved. Governments must urgently adopt and enforce policies, legislation, and regulations. Policies must hold businesses and financial institutions responsible for their impacts on nature. This includes requiring them to assess and disclose their nature-related dependencies, impacts, risks and opportunities.
We need clear monitoring and reporting: A solid monitoring framework with clear indicators for each Global Biodiversity target is essential for tracking progress and holding everyone accountable.
S: How important is collaboration between governments, businesses, and civil society in achieving the goals of the Global Biodiversity Framework adopted at COP15?
EZ: Collaboration between governments, businesses and civil society is absolutely fundamental. The Global Biodiversity Framework is a "whole-of-society" framework, and its success is completely dependent on everyone working together.
Governments need to provide direction and guidance for businesses through clear policy framework and incentives.
Businesses - including the finance community - need to show leadership through their actions and investments, not only in their direct operations, but also through their value chains.
Civil society, including Indigenous Peoples and local communities, must be at the center of the decision-making process to ensure that a rights-based approach is used and local circumstances are taken into account.
Without this radical collaboration, we will not be able to make the transformative changes needed to create a nature-positive, net-zero and equitable economy by 2030.
These solutions are essential for building resilience in our economies and societies, helping to manage risks and unlock efficiencies. Our foremost priority must be to prevent negative impacts on ecosystems. For those already degraded, we must adopt science-based restoration and regeneration measures.
Despite their vast potential to provide 30% of the emissions reductions necessary for viable 1.5°C pathways, Nature-based solutions currently receive a very small part of global climate finance. To address this gap and reflect their true value, our policy recommendations suggest that at least 30% of international climate finance be channelled to high-quality nature-based solutions by 2025.
S: What role do nature-based solutions play in the climate and biodiversity agendas discussed at COPs?
EZ: Nature-based solutions are a crucial piece of the puzzle to help address the climate emergency and nature loss. These two crises are deeply connected. Nature-based solutions are a “win-win” as they simultaneously address climate mitigation and adaptation while protecting biodiversity. Investing in things like ecosystem restoration and reforestation helps to reduce carbon and also protects biodiversity.
“Nature-based solutions: a win-win for climate and biodiversity”
To ensure effectiveness, these solutions must:
Protect, improve management, and restore forests and other biomes in alignment with the Natural Climate Solutions (NCS) mitigation hierarchy.
Adhere to recognized standards, such as the IUCN Nature-Based Solution standard.
Be implemented responsibly, guided by ecosystem experts, in close collaboration with Indigenous Peoples and local communities, and always grounded in a human rights approach.
Only by following these principles can we ensure that NbS deliver lasting benefits for both biodiversity and climate stability, while also contributing to food security, livelihoods, and other essential ecosystem services.
S: How do you view the relationship between the Climate COP and the Biodiversity COP? Should the negotiation and action tracks be more closely aligned?
EZ: The relationship between the Climate COP and the Biodiversity COP is one of deep and necessary alignment. The climate and nature crises are not separate; they are intertwined. When ecosystems are degraded, they lose their ability to store carbon, while rising temperatures disrupt them further. We need to address these crises together to build more resilient societies and help businesses manage risks and find new opportunities.
While we're seeing more emphasis on this connection at recent COPs, we need more integration and alignment to avoid a fragmented policy landscape. This confusion makes it difficult for businesses to understand expectations and align their strategies and transition plans accordingly. A more coherent and integrated regulatory framework would enable companies to act more effectively, ambitiously and quickly. We would like to see stronger links between the COPs, including:
Greater policy clarity: Aligning national plans for climate and biodiversity would create a more coherent policy landscape, helping businesses understand what's expected of them.
Integrated solutions: Using nature-based solutions can play a central role in helping governments integrate the Rio Conventions. By restoring ecosystems, NbS simultaneously delivers emissions reductions, biodiversity conservation, and land and soil health, while also strengthening community resilience.
Enhanced engagement: Engaging businesses more in policy design would ensure that these integrated policies are practical and aligned with real-world business decision-making.
Coordinated corporate reporting: this could be a key way to support transparency. Using globally recognized standards would help businesses show how their efforts contribute to both climate and nature goals.