– What Should Business Leaders Expect?

AFP via Getty Imagesto drive global action to protect the world’s natural resources. Held in Cali, Colombia, one of the most megadiverse and biodiversity rich countries, the theme of COP16 is ‘Peace with Nature’.

Nature’s sharp decline means the stakes are too costly for inaction. In 2019, the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services reported that around Previous notions of limited access to data are dissolving as solutions scale. “Historically, there was a myth that we lacked the data to measure nature, because it is location specific with no single metric and technically more complicated that climate. That was front of mind in COP15. But the debate has moved on as more companies have published nature related disclosure with data available today.

There are numerous questions leaders should ask themselves, according to Zabey. Are we acting and implementing at the right scale and speed? How can we course correct? How can we demonstrate progress on the starting blocks set out at COP15? highlighted that damage to the natural environment is slowing the economy with an estimated 12% reduction to GDP in future years. This would have a larger impact than the Covid-19 pandemic or global financial crisis.

Laura Garcia Velez, nature specialist for Lombard Odier zoned in on Target 15, “We would like to see the development of new mechanisms which enable further nature disclosures’ outcomes with the required global investments for biodiversity, Target 19.” But, Velez points out that whilst there has been an increase in nature investment products such as payment for ecosystem services, green bonds, biodiversity offsets and credits, “We need to see new and innovative products specifically tailored to transform the value chains of sectors especially those in forestry, land and agriculture.” she notes.

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