New global framework for managing nature, some things you need to know about the new global framework for managing nature. The World Economic Forum’s Global Risks Report lists climate action failure, biodiversity loss, and infectious disease among the top three risks. It is imperative that leaders and citizens alike take a systemic approach to the economic and social change needed today in order to build the world we want to inhabit in 2030.
New global framework
In 2015, world leaders came together for an ambitious commitment to combating climate change to keep the world on a 1.5°C path. In addition to governments committed to the Paris Agreement, companies have aligned their plans and commitments with this vision (new global framework). Companies with combined revenues of $11.4 trillion (equivalent to more than half of US GDP) are now striving to achieve net zero emissions by the end of the century, most of them by 2050.
New framework global regents
Similar ambition is needed between the public and private sectors as leaders gather in Kunming, China, to agree on a post-2020 global biodiversity framework. Last week, the Secretariat of the United Nations Convention on Biological Diversity (CBD) released a first draft of the framework, calling for Participation and participation from all sectors of society. Companies play a particularly important role in combating biodiversity loss and ensuring sustainable ecosystem services such as carbon sequestration, clean water, food security, and more (new global framework).
Here are some things you need to know:
What are the features of post-2020 global biodiversity! The 2011-2020 Aichi Plan failed to achieve its single biodiversity target. Over the past two years, scientists, experts and government officials at the 15th Conference of the Parties to the United Nations Convention on Biological Diversity have worked on the framework to be adopted in Kunming, China, which will set targets for how nature will be managed by 2030. While targets, such as the Paris Agreement, It is not binding on companies – it indicates the government’s ambition and priority of activities to combat the crisis of biodiversity loss.
Global history regents new framework
By connecting their strategy and operations to the framework, companies secure their future as they all depend on nature and the services of the ecosystem. For example, according to the Food and Agriculture Organization, more than three-quarters of the world’s food crops depend at least in part on pollination, and global crop production, which has an annual market value of between $235 billion and $577 billion yes, is at risk.
Prohibition of using public money to harm public interests. Governments around the world provide about $530 billion annually in public subsidies and market price support to farmers, but only 15% of these incentives support sustainable results, while most of the overfertilization with other negative effects can inspire. The goal of the framework is to commit 18 governments to redirect, rearrange, reform or remove at least $500 billion annually in various sectors from incentives harmful to biodiversity.
Relying on the nature and impact of business
Goal 15 of the framework calls on all companies to assess and report on their adoption and impacts on biodiversity, thereby halving their negative impacts by at least half. G7 finance ministers supported the launch of the Nature Related Financial Disclosure Task Force (TNFD), which launched a number of financial services and large investor firms to boost biodiversity reporting, modeled on the climate mandated by the TCFD. Which means that the cost of capital for any business that does not measure relative importance against nature will suffer greatly.
Goal 19 of the framework seeks to increase financial resources to at least $200 billion per year, with an increase of at least $10 billion for developing countries. According to the State of Finance for Nature report, a total investment in nature of $8.1 trillion is needed by 2050 to address the planet’s triple crisis of climate change, nature loss and land degradation. Nature-based solutions currently account for only 14% of personal finance. There is a need and ability to value natural capital in the same way we value financial, physical and human capital.
Global regents new framework
To strengthen market mechanisms to help combat climate change and nature loss, China recently launched its national carbon emissions trading scheme with $32 million in changing hands. Another example is HSBC’s launch of an asset management venture with the ambition to become the world’s largest natural capital asset manager. Unilever announced a €1 billion Nature and Climate Fund.
Significant innovation is needed from the business sector, and a consistent regulatory environment that supports the market mechanism with appropriate safeguards to protect and manage nature in a sustainable manner. The circle of positive ambition for government policies and entrepreneurship
The framework is a first draft and has scope to be more ambitious and create a truly transformative framework, including the adoption of a clear and ambitious global goal to prevent and reverse the loss of nature by 2030 and create a positive natural world. This global goal is advocated by many non-state actors and has been recognized by more than 88 heads of state in the Leaders for Nature Pledge.
If adopted in the framework, it will send a strong signal to the business community that regulatory change is imminent and business as usual is no longer an option, thus encouraging a positive business model for nature and redirecting investment and business decisions – creating processes around the conservation, restoration and sustainable use of nature and natural resources.
Companies and civil society
The UN Secretariat of the Convention on Biological Diversity is now calling for contributions from companies and civil society organizations to ensure they have a cross-sectoral implementation plan and public-private resources. Business for Nature brings businesses from all regions and geography to entry in the first draft. More than 900 companies have signed the “Nature is All Business” call to action, prompting governments to pursue ambitious policies for a zero-zero, nature-positive economy.