Beside the urgent progress needed on delivering Targets 15 and 18, COP16 discussions must result in concrete steps being taken on crucial issues such as:
- resource mobilization – to scale up green finance and align both private and public financial flows to nature-positive outcomes, with a particular focus on increasing funding to developing countries and Indigenous Peoples and Local Communities who are stewards of biodiversity hotspots;
- monitoring and review mechanisms – to allow consistent tracking of progress against the GBF’s targets through harmonized frameworks, provide regulatory certainty and ambition for businesses as part of NBSAPs, and align nature, climate and SDGs review mechanisms;
- access and benefit sharing – to effectively share the benefits from digital sequence information on genetic resources (DSI), promote biodiversity conservation and facilitate private sector involvement.
Crucially, the message that business action is core to building a nature-positive world must be heard loud and clear, in Cali and beyond. This why we urge businesses of all sizes and sectors to show leadership by:
- embedding nature in all aspects of their decision-making and adopting credible nature strategies – using resources such as the Nature Strategy Handbook and the sector-specific nature-positive actions reports developed alongside WBCSD and the World Economic Forum , and which draw on guidance from the Science Based Targets Network (SBTN) and recommendations from the Taskforce on Nature-related Financial Disclosure (TNFD);
- encouraging policymakers to change the economic game in nature’s favor – from helping shape and deliver national plans and targets that clearly recognize, formalize and define the role of the private sector, to working with trade associations to back enabling sectoral policies;
- calling on other businesses in their sectors and value chains to act – for example by using materials from Business for Nature’s Business Action Narrative;
- and, of course, by actively participating in COP16 itself and championing ambitious collaboration during the conference – by attending bilateral meetings, events and workshops or through connecting with other stakeholders including cities, Indigenous Peoples, Local Communities, academia and youth groups.