Recommendations for governments to include the role of business and finance in National Biodiversity Strategies and Action Plans (NBSAPs)

For the first time in the history of the UN Convention on Biological Diversity, the Kunming-Montreal Global Biodiversity Framework (GBF) strongly recognizes the role of non-state actors, including businesses and financial institutions, in delivering the Convention’s objectives. We welcome this, as one of the shortcomings of the Aichi targets was the lack of engagement of these stakeholders, which contributed to its failed implementation.  

The Global Biodiversity Framework must now be translated into National Biodiversity Strategies and Action Plans (NBSAPs) to formalize the role of non-state actors and enable meaningful and constructive contributions, including from business and finance, to its implementation. 

This document is an updated version of the one released in April 2023, and provides five recommendations for governments on how to ensure updated NBSAPs include how businesses and financial institutions will be encouraged, enabled or required to contribute to the implementation of the Framework:  

1. Recognize and define the importance of business and finance actors in NBSAPs 

2. Develop a baseline analysis of existing policies on business, finance and biodiversity 

3. Partner with progressive business associations and create a coordination mechanism 

4. Raise awareness and encourage business and finance actors to act on nature 

5. Develop an effective and ambitious Business Action Plan 

This update reflects Business for Nature’s latest guidance and resources as well as lessons learned derived from practical experience implementing a Medium-Size GEF project titled “Business Action and Advocacy for the Planet” in Colombia, South Africa and Malaysia. The document includes concrete case studies for each of the five recommendations as examples of good practices in different countries with different contexts and needs.

While these recommendations help clarify the role of business and finance, Business for Nature recognizes that all stakeholders in society have a role to play. Our particular focus on the business perspective should not be to the exclusion of other stakeholders, nor to imply a special role for business, as the framework must generate a whole of society approach.