April news update: Despite global challenges, leading businesses continue to call for ambitious policies at UN biodiversity meetings

 
 
 

It has been a tough start to 2022. The war in Ukraine has shaken global geopolitical order and has brought huge grief and sadness while disrupting supply chains and global economic stability. At the same time, the IPCC issued a dire warning outlining the devastating consequences of climate change – including on business - if we don’t take urgent action. Their latest report finds the window for action is fast closing.

As the world struggles with immediate national security responses, we must also hold the long-term view in mind: peace, a stable climate and healthy ecosystems are the foundations of thriving and resilient societies and economies. Business for Nature stands ready to work with our partners to uphold multilateral principles and accelerate our collective race towards an equitable, nature-positive and net-zero future.  

This year, the momentum of businesses advocating for nature continues to increase. More than 1,100 companies have signed the ‘Nature is Everyone’s Business’ Call to Action, urging governments to adopt ambitious policies now to reverse nature loss by 2030.  

Over 40 organizations joined our business delegation during the CBD Geneva meetings.

We joined more than 300 organizations calling for an ambitious Post-2020 Global Biodiversity Framework.

Over the last few weeks, the BfN team has been actively engaging in the negotiations on the Post-2020 Global Biodiversity Framework. Over 40 organizations and companies joined our business delegation in Geneva, raising the business voice for nature. We updated our position and asked CBD negotiators to adopt a simple, clear and rallying global goal for nature and to strengthen Target 15 on the role of business and 18 on environmentally harmful subsidies. 

Collaborating with the Capitals Coalition, the World Business Council for Sustainable Development (WBCSD), the International Chamber of Commerce (ICC) and other partners, we created a full program of events and facilitated conversations between businesses and policymakers. We also joined more than 300 organizations who called for governments to adopt a mission to secure a nature-positive world for the future of both people and the planet. Ahead of the CBD Geneva meetings, 10 of the world’s leading accountancy institutes, representing over 1.4 million accountants in over 180 countries, publicly endorsed the Call to Action, signaling the role the finance sector plays in solving the nature crisis. 

Leading businesses stepped up to push for more ambition on nature in a way we have not seen before. But, overall progress in the negotiations was slow. Unfortunately, negotiators failed to reach consensus on the text of the 4 goals and 21 targets, meaning another meeting (OEWG-4) is planned for 21-26 June 2022 in Nairobi, Kenya.   

 
 

Ahead of the UN Convention on Biological Diversity (CBD) Geneva meetings, in collaboration with The B Team, we launched a study authored by experts Doug Koplow and Ronald Steenblik that found the world is spending at least 1.8 trillion per year on subsidies that harm the environment. As well as creating awareness of the scale of the problem, we wanted to trigger discussions between businesses and policymakers on the need for subsidy reform. The negotiations in Geneva and later this year at the UN Biodiversity Conference COP15 provide a huge platform to encourage governments to adopt a more ambitious position on the issue, with the support of business behind them.

 
 

Earlier this year, we formed the Business Action Working Group (BAWG), aiming to simplify the nature-positive landscape and align messages and guidance to businesses. With this new strategic pillar, we’re excited to work with our partners to help companies speed and scale up action on nature. 

Despite global challenges, we will continue to bring a powerful business voice to upcoming high-level events and negotiations this year, in particular at the CBD COP15 in Kunming, China, and influence the adoption of ambitious nature policies. Though there is still uncertainty around COP15 dates, we remain hopeful that 2022 will be a game-changing year for nature.  

News from our partners:

  • WWF’s “Bridging the Gap” report reveals the gap between political commitments and the current draft text in the Post-2020 Global Biodiversity Framework. 

  • Cambridge Institute for Sustainability Leadership (CISL) and the We Mean Business coalition launch a Nature-based Solutions (NbS) diagnostic tool to advance understanding on NbS projects and accelerate their adoption and implementation within companies. 

  • Capitals Coalition and We Value Nature launch a free online course called “Valuing nature and people to inform business decision-making" on the Coursera platform, which aims equip business and finance professionals with the knowledge and skills needed to apply natural capital assessments. 

  • Taskforce on Nature-related Financial Disclosures (TNFD) release the first beta version of an integrated nature-related risk management & disclosure framework for market consultation. This first prototype of the TNFD framework is an important step to tackle the risk of nature loss to the global economy and help companies reduce their impacts on nature. 

  • The World Economic Forum’s “Seizing Business Opportunities in China’s Transition Towards a Nature-positive Economy” report finds that 65% of the China’s total GDP at risk from nature loss, while a nature-positive transitions could add $1.9 trillion in annual business value and create 88 million sustainable and resilient jobs by 2030.  

  • World Business Council for Sustainable Development (WBCSD) release a baseline analysis of trends in nature-related reporting based on an analysis of 55 companies. These insights aim to inform discussions on the role of business contributions to the Global Biodiversity Framework targets, and to guide business’ contribution to emerging frameworks and methodologies to halt and reverse nature loss. 

 
 
ArticlesBusiness for Naturenews update, COP15, Advocacy, Business