July news update: Help keep nature on the global agenda

 
 
 

2023 seems to have flown by already. As the dust continues to settle on the outcomes of COP15 in Montreal, we must continue to work hard to keep nature on the global agenda alongside the interconnected challenges of social inequality and climate change. Business for Nature has been working closely with our diverse network of partners (now at more than 85!) and leading companies to update and refine our strategic priorities for the next few years to drive credible business action and policy ambition to achieve a nature-positive economy for all by 2030.  

Our focus has shifted toward the implementation of the Global Biodiversity Framework, and we have provided a set of recommendations to governments. Firstly, on how to ensure their National Biodiversity Strategies and Action Plans (otherwise known as NBSAPs) outline the role of business and how to implement Target 15 which commits governments to require all large companies and financial institutions to assess and disclose their biodiversity-related risks, impacts and dependencies. Thanks to funding from the Global Environment Facility, our partners in Colombia (ANDI), South Africa (Endangered Wildlife Trust) and Malaysia (Malaysia Platform for Business and Biodiversity) have organized business-government dialogues to support the implementation of the GBF.  

 
 

You may have also spotted our open letter signed by more than 80 CEOs and executives to EU leaders recently, urging them to adopt ambitious environmental policies and regulations to tackle the negative impacts of the dual climate and nature emergencies. In a knife-edge vote, the European Parliament voted to support an amended version of the EU Restoration Law. While the law is less ambitious than we would have liked, it provides a foundation for further negotiations and a huge thanks to many of you who signed, supported and amplified this letter, with special thanks to CLG Europe, WWF and OP2B 

We were delighted to be recognized for our Make it Mandatory and Environmentally Harmful Subsidies (EHS) campaigns by the UK Green Business Awards recently. The Make it Mandatory campaign with Capitals Coalition and CDP ahead of COP15 received a ‘highly commended’ and our EHS campaign with The B Team won the category for ‘Best Advertising/Marketing Campaign’ of the year! Our collective success in these awards is thanks to all of you backing and supporting these campaigns.  

What’s coming down the line?  

The second half the year looks set to be a busy time, with Africa Climate Week, New York Climate Week, the European Business and Nature Summit, Greenbiz Bloom and COP28.   

Let us know if you’re planning to attend any of these events, and feel free to use our updated speaking points on nature. 

We are landing two key pieces of work to help scale and speed up business action on nature: 

  1. In September, Business for Nature, the World Economic Forum, and the World Business Council for Sustainable Development (WBCSD) with input from many partners, experts and companies, will release a dozen sector-specific overviews.  These overviews will outline the top impacts, dependencies and priority actions companies can take to contribute towards a nature-positive economy by 2030. Mark your calendars for the launch event on 18 September from 9.15-10.45 am in the Nature Positive Pavilion (101 Park Avenue, New York, USA). Event registration will open in early August. 

  2. In October we will launch a Business Action Campaign to rapidly accelerate corporate action on nature and keep the momentum from COP15 alive.  This will build on our High-Level Business Actions on Nature (available in Chinese, French, Indonesian, Portuguese and Spanish). Check out this video shared by our partner Capitals Coalition to celebrate World Biodiversity Day. As part of the campaign, we will share guidance for companies on what an ambitious, credible, science-aligned nature strategy should include. 

 

News from our partners

  • In May 2023, the Science Based Targets Network (SBTN) launched the first corporate science-based targets for nature. A pilot group of 17 companies are planning to set the first nature targets this year. They were selected for their readiness and applicability and represent sectors and supply chains with a high impact on nature.  

  • In March 2023, TNFD released its fourth and final Beta Framework for nature-related risk management and disclosure. The final framework will be launched at New York Climate Week.  

  • The latest negotiation meeting for the UN Global Treaty to End Plastic Pollution concluded in Paris, France early June. States have agreed to develop a first iteration of the treaty text (a ‘zero draft’) ahead of the next round of negotiations taking place in Kenya in November. 

  • The World Economic Forum’s 2023 Global Risks Report, shows environmental risks making up six of the top 10 risks globally, with biodiversity loss and ecosystem collapse ranking in the top five alongside natural disasters and a failure to mitigate climate change.  This was reflected in the number of sessions at Davos focusing on nature and/or climate– one-fifth of all official sessions and half of all affiliated sessions. This doesn’t mean we can be complacent though, as the WEF’s Community Lead, Xinqing Lu shared in our recent webinar– while nature and biodiversity are catching up with climate change, there is much work still to be done, including educating investors and boardrooms on nature. 

Media & event highlights 

 Receiving and resolving complaints 

As part of our Global Environmental Facility project, we have established an Accountability and Grievance Mechanism to enable a fair and transparent process to receive and resolve complaints from stakeholders. Learn more. 

Best regards,

Eva Zabey - on behalf of the BfN team
CEO, Business for Nature

 
 
 
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