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Ahead of COP16, new research analyses global progress to halt and reverse nature loss
In a nutshell: Assessment of business and government progress on halting and reversing nature loss ahead of COP16 / Global environmentally harmful subsidies flow climbs to $2.6 trillion shows new research / Advice for businesses attending COP16, Cali
On the 18th September, the Business for Nature coalition unveiled a new infographic looking at the progress businesses and governments have made since COP15 to halt and reverse nature loss by 2030.
The headline is that while there are reasons to be hopeful and progress has been made since the adoption of the Global Biodiversity Framework (the Biodiversity Plan), much more needs to be done if we are to turn the tide on nature loss this decade.
Business for Nature has produced an annex with more details on each data point included in the infographic.
Global flow of environmentally harmful subsidies estimated at $2.6 trillion
One of the key data points on our new infographic relates to the global flow of environmentally harmful subsidies (EHS). Updated research reveals that the global flow of EHS estimated at $2.6 trillion a year on, equivalent to 2.5% of GDP. This is a much higher than previous estimates and is accelerating the destruction of ecosystems and species extinction.
Target 18 of the Biodiversity Plan commits governments to identify EHS by 2025 and reduce them by $500 billion annually by 2030. So far, progress to meet this target has been slow.
To accelerate progress and align financial flows towards nature-positive outcomes, governments should reform all EHS and businesses should start assessing their dependencies on EHS and work in collaboration with governments to define transition pathways.
Read Business for Nature’s recommendations to governments on how to address EHS.
Counting down to COP16
In less than a month, representatives from governments, NGOs, civil society, local communities, business, finance and many more will all meet in Cali, Colombia for CBD COP16 (21 October – 1 November). They will be discussing how we can make peace with nature and meet the 23 targets of the Biodiversity Plan, to achieve the mission laid out in the Biodiversity Plan of a nature-positive world by 2030.
At COP16, governments and businesses must work together through ambitious and radical collaboration. Governments have a crucial role to play to enable business transformation, by providing direction and a stable environment for change.
On 18 September, Business for Nature hosted a webinar on how businesses can play an active role at COP16. Catch up on the webinar here.
Businesses call for renewed ambition from governments
Over 180 companies have signalled their support for accelerated implementation and more ambition on the Targets of the Biodiversity Plan by signing the COP16 Business Statement, which includes five policy asks for governments. This statement remains open to all businesses to add your name until 13 October.
Key messages for businesses to amplify at COP16
Business for Nature Advocacy Director, Maelle Pelisson, reminded webinar attendees of the collective responsibility for businesses attending COP16 to share positive messages through their interventions, including side events, informal discussions and media interviews.
Maelle Pelisson, Advocacy Director, Business for Nature: “We’ve seen at COP15 how a strong and unified business voice can successfully push for greater ambition. And our aim is to achieve the same result at COP16.”
We need businesses and business organisations to amplify two messages:
- Demonstrate business action: Leading businesses recognize the risks of nature loss and their responsibility. They are starting to act but voluntary actions are not enough, systemic change and stronger policy action are needed.
- Call for renewed policy ambition: Governments must accelerate the implementation of the Biodiversity Plan by adopting policies that drive business action.
Businesses have a vital role to play in calling for the acceleration of implementation of the Biodiversity Plan, as this provides governments with the courage and confidence needed to accelerate implementation and drive further business action.
Checklist for all businesses attending COP16
As we approach the final stretch to COP16, here are a few important reminders to ensure you are fully prepared:
- Take the time to read our policy recommendations and align with key messages.
- Don’t forget to sign our COP16 Business Statement to show your commitment for renewed policy ambition on nature
- Join our Business@COP16 WhatsApp group
- Get familiar with the COP16 agenda and plan your days accordingly to make the most of the events program
- Check your registration status to avoid any last minute issues
- Have your visa and other essential documents ready in order to facilitate a smooth entry
Read the August news update to catch up on previous nature policy stories from around the world.
Don’t forget to read our policy recommendations to governments that cover several topics outlined above.
