At the 2020 Annual Meeting of the World Economic Forum, which opened on 21 January, “Business for Nature” (a global coalition of visionary organizations and businesses) called on governments to take practical action and develop new policies to bring people and nature into harmony. In 2020, world leaders and governments will have historic opportunities at several key moments to jointly determine the future of the planet.
According to the World Economic Forum’s recently released Nature Risk Rising, businesses are more dependent on nature than previously estimated. Economic value totaling approximately US$44 trillion—more than half of global GDP—is moderately or highly dependent on nature, and is therefore also exposed to risks from nature loss.
More than 360 companies in the Business for Nature coalition have already committed to helping reverse nature loss, addressing the significant risks it poses to economies, communities and livelihoods.
While they are helping address these global challenges, much more needs to be done. Scientists believe systemic change is essential to mitigate climate change, drive sustainable growth and halt the decline in biodiversity. Businesses need to scale up action rapidly to support these changes through policy.
To develop sound policy recommendations, Business for Nature worked with hundreds of companies across 15 sectors on five continents, as well as many other organizations, to put forward five policy recommendations for governments:
Provide direction and vision: Set science-based global targets to reverse nature loss by 2030 and publicly recognize that the world is in a state of emergency
Coordinate, integrate and implement policies on nature, people and climate: Improve coherence in UN governance mechanisms, integrate nature into all relevant government policies, and ensure effective enforcement of environmental laws
Look beyond short-term profits and GDP: Integrate and value nature in decision-making and disclosure so governments, businesses and financial institutions make better long-term decisions
Finance a just transition: Reform subsidies and incentives to encourage businesses to design innovative circular business models and reward positive action; and advance financial solutions that provide funding for nature.
Engage, advocate and collaborate: Work together with the engagement of all people to protect nature, bringing public and private actors together to implement solutions.
Taking positive action for nature will help unlock new business opportunities, encourage companies to do more, and in turn advance more ambitious and effective policymaking. Visionary businesses understand that economic and social prosperity, and their own success, depend on a healthy natural world. They are therefore taking action and urging governments to adopt these policies. To address the climate and biodiversity crises and reduce social inequality, we must protect nature, conserve species and restore ecosystems.
At the launch meeting held during the 2020 World Economic Forum Annual Meeting, Eva Zabey, Executive Director of Business for Nature, said: “There is no point in achieving excellent financial performance if the planet is lifeless. Businesses are now united in calling on governments to support these recommendations and create a level playing field and a stable operating environment. We should articulate nature’s potential value and reveal the economic consequences of failing to protect ecosystems, thereby putting nature at the heart of all relevant business, financial and government decisions.”
Dr. Anne Larigauderie, Executive Secretary of the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES), said: “The IPBES Global Assessment Report makes clear that sustaining nature’s value to people requires a global economy based on sustainable development. Government decision-makers must be involved in transforming financial and economic systems, but cooperation with the private sector is also essential. IPBES therefore welcomes Business for Nature’s important policy recommendations, as well as the engagement and initiatives of other stakeholders, in the hope that they will raise awareness of biodiversity and inspire greater action and ambition.”
This year, leaders have an opportunity to learn from the 2015 signing of the Paris Agreement and develop new policies to bring people and nature into harmony, placing environmental and social development at the heart of our economic, political, social and financial systems. Businesses are now united in calling on heads of state and government to adopt the policies put forward today by the Business for Nature coalition, and stand ready to help. Many companies have made commitments not only to protect nature but also to restore ecosystems. Businesses cannot meet these challenges alone; we also need political leaders to take action that inspires more companies to act.
Karl-Johan Persson, CEO of H&M Group, said: “We have set science-based targets and are committed to achieving full circularity and improving the climate, but this is not enough. Biodiversity is key to the future of the planet. All actors must take real responsibility and work toward the changes needed. Businesses need to deliver on their commitments, and governments need to take a long-term view, establishing and implementing laws and regulations to drive change. Only by working together can we meet the challenges posed by nature loss.”
Svein Tore Holsether, President and CEO of Yara, said: “The window of opportunity to reverse nature loss is closing rapidly. We must act decisively to transform the economy and fully recognize the value of nature protection for the environment, society and business. We cannot stand by and do nothing.”
Alan Jope, CEO of Unilever, said: “The scientific record of nature loss is alarming. Nature is the foundation on which all life on Earth depends. It is therefore essential to develop new policies in 2020 to bring people and nature into harmony and achieve systemic change in the relationship between humanity and the planet. Businesses should step up and call for change.”
Roberto Marques, Executive Chairman and Group CEO of Natura &Co, said: “Time to protect the planet is running out. Natura &Co is committed to balancing economic, environmental and social goals in every respect and accelerating the scaling up of collective action to address the climate crisis. We all have a responsibility to work together to protect the world’s natural resources and safeguard the well-being and future development of communities.”
Wiebe Draijer, CEO of Rabobank, said: “We believe the necessary systemic change to reverse nature loss, mitigate climate change and reduce social inequality cannot be achieved without appropriate incentives and financial mechanisms. As a global bank focused on food and agriculture, Rabobank fully supports this collective action and, through effective public-private partnerships, considers nature protection one of our key missions.”
Rodolfo Lacy, OECD Environment Director, said: “The loss of biodiversity and ecosystem services costs the global economy trillions of dollars every year. Governments and businesses must scale up action to protect nature and restore ecosystems. Governments need to reform fiscal support measures that harm biodiversity. Businesses also have an important role to play in recognizing their dependence on biodiversity and reducing their related impacts. Business for Nature’s recommendations provide valuable guidance on how to implement systemic change.”
Only by working together can businesses, governments and civil society uncover new opportunities and drive systemic change globally, creating a shared, better future for all life on Earth.
Editor’s note:
Supported by partners and stakeholders
For more information and interview requests, please contact:
Lucy Coast, 00447976786050, lucy.coast@businessfornature.org