UN nature summit puts industry on alert to disclose more - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

[File photo] UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan and UAE Deputy Prime Minister and Minister of Presidential Court Sheikh Mansour bin Zayed Al Nahyan attend the COP27 summit at Sharm el-Sheikh, Egypt, November 7, 2022.[File photo] UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan and UAE Deputy Prime Minister and Minister of Presidential Court Sheikh Mansour bin Zayed Al Nahyan attend the COP27 summit at Sharm el-Sheikh, Egypt, November 7, 2022.

The measure, as currently drafted, would also ask companies to halve those negative impacts by 2030, which could mean additional costs for businesses, said Franck Gbaguidi, senior analyst for energy, climate and resources at the Eurasia Group risk advisory. In a letter to world governments in October, more than 330 companies including Swedish fashion giant H&M Group, furniture maker IKEA, British pharmaceutical and biotech company GSK and Switzerland’s Nestle came out in support of a COP15 deal that includes mandatory disclosure of companies’ environmental impacts by 2030.

“There are going to be some places which are just going to be ‘no go areas’, and that can be hard for the mining sector,“ said Aimee Boulanger, executive director of the Initiative for Responsible Mining Assurance.

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