Business Council for Sustainable Development Australia’s Post

🌍 COP16: A Defining Moment for Businesses to Lead on Biodiversity Action 🌍 In December 2022, 196 countries united to adopt the #GlobalBiodiversityFramework (GBF), marking a turning point in efforts to halt and reverse nature loss by 2030. But nearly two years on, the urgency for action has never been greater. Progress on implementing the GBF has been slow, and the upcoming #COP16 in #Colombia is our best opportunity to reverse these trends. 🌱 Business Leadership is Critical 🌱 As Eva Zabey Business for Nature argues businesses must take centre stage in delivering the GBF targets, not only through voluntary actions but by advocating for stronger government policies. To date, only 44% of governments have updated their National Biodiversity Strategies and Action Plans (NBSAPs), while environmentally harmful subsidies (EHS) continue to total $2.6 trillion annually, undermining progress. For forward-thinking companies, this is a pivotal moment to step up. Leading businesses, such as GSK, Kering, and Ørsted, have published credible nature strategies as part of the It’s Now for Nature campaign. But more needs to be done to align investments with nature-positive outcomes and reduce the $5 trillion in private finance that still harms ecosystems. 🔑 What Should Businesses Do? - Transform Operations: Embed nature-positive practices into every part of your business model. Tools like the Nature Strategy Handbook offer guidance on how to align with Taskforce on Nature-related Financial Disclosures (TNFD) standards. - Advocate for Policy: Push for ambitious nature-related disclosures and the reform of environmentally harmful subsidies to incentivize corporate action. Engage at COP16: Participate in negotiations, workshops, and bilateral meetings to showcase your company’s nature strategy and demonstrate bold leadership. Key Policy Considerations for Australia - Mandating Nature Disclosures: Australia must align with GBF Target 15 and consider mandating nature-related disclosures, as it has done for climate-related disclosures. - Subsidy Reform: The need to phase out environmentally harmful subsidies (EHS) is critical for a nature-positive future. - Reshaping Biodiversity Strategies: Australia’s National Biodiversity Strategy should be recalibrated and updated to reflect the GBF’s goals. 💬 Join the Conversation: How is your business preparing to tackle the nature crisis? What steps are you taking to align with biodiversity goals? 👇 Let’s discuss in the comments! 🔗 Read the Nature Strategy Handbook https://lnkd.in/eK_dnyRE

The Handbook  | Now For Nature

The Handbook  | Now For Nature

https://nowfornature.org

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