On December 12 & 13 of 2022 the Secretariat of the Convention on Biological Diversity convened the Business and Biodiversity Forum. The two-day event ran in parallel to COP-15, providing the business community with a unique opportunity to have an open dialogue on what business action really looks like, what are the policies needed to scale up ambition, and to identify tools and solutions that can support companies in moving away from business as usual. The BBF provided opportunities for:
- Engaging governments, policy makers, business leaders, finance sector and interest groups in the discussions on how to support implementation of the Kunming-Montreal Global Biodiversity Framework goals and targets.
- Sharing and inspiring examples of scalable and replicable initiatives from the private sector that are already in place.
- Understanding how standards and frameworks can help and guide businesses in their journey to more sustainable practices.
- Showcasing ambitious commitments and intended actions in support of the implementation of the Kunming-Montreal Global Biodiversity Framework.
During the BBF’s two days, nine different panels were held with over sixty panelists, two keynote speakers, and 1071 attendees. Among others, this edition of the Business Biodiversity Forum brought together speakers from the OECD, BP, Vale, Hydro Québec, UN Biodiversity, UNEP-WCMC, Natura, IKEA, WEF, H&M, WTTC, UNWTO, BMO, WWF, Walmart, L’Occitane, Kering, Total Energies, and WBCSD.
The forum culminated with the announcement of the creation of a €300 million Climate Fund for Nature. Managed by Mirova, the fund will be a new mechanism for nature based solutions, mobilising resources from the luxury fashion and beauty sectors to protect and restore nature. Through its mission of delivering carbon credits and regenerating benefits for communities, this fund will support NGOs, project developers and farmers dedicated to protecting and restoring ecosystems. With €140 million already committed, the fund is expected to be operational by 2023.
COP 15 Decisions Related to Business