How Business for Nature will drive credible business action and policy ambition to achieve a nature-positive economy for all
This blog by Eva Zabey, CEO of Business for Nature, was originally posted on World Biodiversity Day 22 May.
Today is Biodiversity Day! In December last year, governments around the world agreed a historic new deal for nature called the Kunming-Montreal Global Biodiversity Framework, or the GBF for short.
This historic deal, signed by 196 countries at the UN Biodiversity COP15 conference in Montreal in December, set an overarching goal of halting and reversing nature and biodiversity loss by 2030.
This “nature-positive” ambition is underpinned by 23 specific targets, such as the “30x30” objective of protecting 30% of the earth’s land and sea territories by 2030.
For the first time in the history of the UN Convention on Biological Diversity, the GBF also strongly recognizes the role of non-state actors, including indigenous peoples and local communities as well as businesses and financial institutions.
In particular, Target 15, which commits governments to require all large companies and financial institutions to regularly assess and disclose their risks, impacts and dependencies related to nature by 2030 at the latest. This is a wake-up call for businesses to start acting on nature now and is perhaps one of the most transformative targets of the GBF, with the power to reshape our entire socio-economic systems.
Since the adoption of the GBF, Business for Nature has been working closely with our network of coalition partners and leading companies to update and refine our strategy for the next few years to drive credible business action and policy ambition to achieve a nature-positive economy for all by 2030.
Our priorities are to:
1. Provide the courage, comfort, and technical expertise to governments so that they adopt, implement and enforce ambitious policies that help create a nature-positive economy
Business for Nature has recently launched recommendations for governments on how to include the role of business and finance in National Biodiversity Strategies and Action Plans (NBSAPs).
Keep a look out for our detailed guidance on Target 15 coming soon. We will share information on existing tools, resources, and capacity-building opportunities, and case studies of government policies and business action on disclosure.
2. Scale and speed up business action by strengthening, clarifying and amplifying why and how companies should act now
Read my article in Thompson Reuters Context Newsroom on why protecting biodiversity should be a priority for all businesses.
With our partners, Capitals Coalition, the Science Based Targets Network and the Taskforce on Nature-related Financial Disclosures (TNFD) we are highlighting the high-level actions business can take to contribute to a nature-positive world: Assess, Commit, Transform, Disclose.
In September, Business for Nature, the World Economic Forum, and the WBCSD – World Business Council for Sustainable Development with input from many specialists and companies, will release Sector Specific Actions for several industries. These actions will outline priority actions companies in these sectors can take to contribute towards a nature-positive economy by 2030.
We will also launch a new Business Action Campaign later this year to rapidly accelerate corporate action on nature and keep the momentum from COP15 alive.
3. Drive ambitious national implementation of the GBF by embedding the role of business in the CBD National Biodiversity Strategies and Action Plans (NBSAPs) and sharing learnings across regions
Through generous funding by the Global Environment Facility, we are working in Colombia, South Africa and Malaysia to create business-government dialogues to ensure the role of business and financial institutions is fully recognized in their updated National Biodiversity Strategies and Action Plans (NBSAPs) and ensure successful and effective implementation.
These conversations at national level are a critical part of our work as we enter this era of implementation. Today, our partner the Endangered Wildlife Trust together with the South African Department of Forestry, Fisheries and Environment (Department of Environmental Affairs) and SA Biodiversity (SANBI) are organizing a dialogue between businesses and governments to discuss implementation of the GBF and the role of business.
We're also setting up regional platforms to share learnings and guidance, focused in Asia, Latin America and Africa.
The Global Biodiversity Framework provides a clear roadmap towards a nature-positive world. It is time to transform this roadmap into action from all to Build Back Biodiversity.