EcoVadis’ support for COP16’s Business Statement is reinforced by the alignment and coverage of our sustainability rating methodology, and our commitment as a purpose-led company to empower businesses and their value chains to drive progress on biodiversity as a vital axis of planet-saving action.
The COP16 Business Statement, organized by Business for Nature, serves to unify and demonstrate growing private sector support for government leadership in implementing the Global Biodiversity Framework. The statement calls for governments to continue to strengthen their policies to halt and reverse nature loss and will also be accompanied by a set of policy recommendations.
The Global Biodiversity Framework was adopted by nearly 200 countries at COP15. It marks a historic agreement to guide global action on biodiversity loss. It includes targets to preserve 30% of degraded terrestrial, coastal and marine ecosystems by 2030, as well as mobilizing at least $200 billion per year by 2030 from all public and private sources to close the biodiversity financing gap.
At the upcoming COP16, governments will review the state of implementation of the Framework. Countries are expected to submit their National Biodiversity Strategies and Action Plans (NBSAPs) and to develop Biodiversity Finance Plans which will serve to close the biodiversity funding gap.
Nature, biodiversity and drivers of biodiversity loss are central pillars of the EcoVadis assessment, contributing to an overall understanding of a company’s exposure to sustainability risk. These risks are especially acute in companies’ value chains. As governments and regulators take action to address biodiversity issues, business leaders must engage their supply chain partners, identify the top biodiversity threats, and take action to remediate these risks. Through engagement and ongoing improvement, businesses can work toward addressing the root causes of biodiversity loss in supply chains.
In signing the COP16 Business Statement, EcoVadis demonstrates its support for global efforts to halt and reverse nature loss through achieving the ambitious goals and targets of the Framework. We further demonstrate our commitment to prioritize methodology evolutions that support nature-positive transformations in high-risk sectors.
The onus is not on just governments and regulators to take steps to address biodiversity loss. There are growing calls for businesses alongside governments to protect and restore nature for the planet and society. Businesses are highly vulnerable to biodiversity loss - over half of the world’s economy is highly dependent on nature. EcoVadis supports business action to mitigate these risks alongside governments to protect the planet and our society.
Want to learn more about taking action on Biodiversity? Read more in our blog:
- Building a Greener Future with Impactful Business Strategies
- EcoVadis joins the Taskforce for Nature-related Financial Disclosures (TNFD) Forum.
- Sustainability Ratings Data Reveals Critical Gaps in Private Sector Action on Biodiversity
Or hear perspectives from practitioners:
- Journey to Nature Positive: Developing an Effective Business Strategy (with Fedregoni and Business For Nature)
- Valuing Nature in Business: Uncovering Biodiversity Impacts (with L'Occitane and NECi)
- Between Biodiversity and Climate Change (with Pavan Sukhdev, former WWF President, CEO and founder of GIST, and Johan Rockstrom, Professor and Director of the Potsdam Institute for Climate Impact Research)
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