What impact will COP15 have on your business?
From 7 to 19 December 2022, the 15ème Conference of the Parties to the United Nations Convention on Biological Diversity (COP15) was held in Montreal, Canada. After long hours of diplomatic negotiations, an agreement was reached and 23 targets were set.
But what is the purpose of the COP, what are its objectives and what are the consequences for business?
The Conference of the Parties (COP) is the governing body of the Convention and brings together the 196 Parties to the treaty (195 states and the European Union) to take action for biodiversity. COP15, under the Chinese presidency, aimed to adopt a new strategic framework setting global targets to halt biodiversity loss by 2030. It thus succeeds the Aïchi targets of COP10 (of 2010), whose objectives were only partially achieved. The 23 objectives of the agreement are divided into four main areas:
- Reducing threats to biodiversity
- Conservation and sustainable use of resources
- Access to and benefit sharing of genetic resources
- Means of implementation of the global framework
Protecting 30% of the planet by 2030
One of the key objectives of this decade is to protect at least 30% of the world’s land, sea, coastline and inland waters by 2030. To date, only 17% of land and 8% of sea are protected. Moreover, according to the FAO, one third of the world’s land area is “moderately or severely degraded” by human activity. It was therefore also agreed to restore 30% of degraded land.
The agreement also calls for a halving of pollution from fertilisers, pesticides and hazardous chemicals and aims to eliminate plastic pollution by 2030. As part of sustainable resource use, COP15 promotes a substantial increase in biodiversity-friendly agricultural practices such as agroecology and a 50% reduction in food waste.
The total amount of funding dedicated to life (public, private, national or international) should reach 200 billion dollars per year by 2030. Among other things, the countries of the North will support the countries of the South in the preservation and restoration of biodiversity to the tune of 20 billion dollars per year by 2025 and 30 billion dollars per year by 2030 at the latest. In addition, biodiversity-damaging financial incentives will be reformed or eliminated by at least $500 billion per year by 2030.
Finally, the countries also set a framework for implementation by adopting a common planning and monitoring mechanism with clear indicators.
What about companies ?
In practice, COP15 is pushing governments to take legal, administrative or political measures to encourage or even oblige (large) companies to
- Monitor, assess and disclose their impacts on biodiversity,
- To provide the necessary information to consumers to promote sustainable consumption patterns,
- Report on compliance with regulations and measures for the progressive reduction of negative impacts on biodiversity.
We advise you to anticipate the implementation of these measures in order to become a reference in this field, which offers many benefits.
In addition, from 2023 onwards, biodiversity regulations (EU Taxonomy, CSRD, etc.) and reporting standards (TNFD, SBTN, etc.) will already apply.
BeeOdiversity can help you to better understand the impact of COP15 and these regulations / standards on your activities and to define the measures to be taken. Please note that the data obtained through BeeOmonitoring can be valorized as quantitative and qualitative monitoring indicators, allowing to target the improvement actions to be taken to respect the regulations related to biodiversity.
At the beginning of 2023 we will organise a webinar on the various standards and regulations that concern you. Together we can create value with biodiversity as a solution!
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