What is Global Biodiversity Framework and what it means to business?
This session, organized by the World Economic Forum
, had the main objectives of:
- Raising the ambition level of both businesses and governments in setting biodiversity goals.
- Discussing what next-step action businesses can take based on the biodiversity framework and collective efforts.
- Mainstreaming the global biodiversity targets and interpreting the targets to business actions and opportunities.
Reforming by redirecting all environmental harmful subsidies for a nature positive future
This session, organized by the Capitals Coalition and Business for Nature
, aimed to stage a discussion between government and business on how to rethink and reform subsidies that are harmful to biodiversity, and, where possible, to redirect them towards nature positive outcomes. The session explored how Target 18 can reflect the ambition, scale, and urgency needed to reform environmentally harmful subsidies by discussing the importance of subsidy reform of business and governments.
Embedding Climate & Nature into Corporate Decision Making: TCFD Reference Scenarios, TNFD Piloting, Enhanced Risk Management
This session, organized by the World Business Council for Sustainable Development
, aimed to highlight progress made on two critical areas:
- Making disclosure of ESG-related risks and impacts mandatory and standardised.
- Building capability in the directors about what a “future proof business” is and having the right processes in place to make informed decisions.
More broadly, the session intended to discuss the way WBCSD members and partners create tools, pilots, and programs to embed climate and nature into corporate decision making to create scaled impacts. It also had the objective of calling companies to support the WBCSD and its partners in the TCFD and TNFD, while also calling governments to continue to drive the transparency agenda.
The Business Case for Nature Friendly Consumption: Scaling up Consumer Information on Biodiversity and Ecosystem Services
-organized session had the objective of showcasing how businesses can take responsibility for a healthy planet and benefit from including aspects of biodiversity in their marketing campaigns. The session sought to expose how businesses can develop relevant measures that support the implementation of the consumption and production related targets of the Kunming-Montreal Global Biodiversity Framework.
Nature Positive: The emerging business as usual
Organized by the Cross Sector Biodiversity Initiative
, this event encouraged banks, mining, and energy companies to share their insights on Net Zero and Nature Positive ambitions from a private sector perspective, through the discussion of challenges and opportunities across the value chain of these three industries. Specifically, this session sought to bring insights on:
- The pressures/requirements of investors/banks to finance extractive projects in support of the energy transition.
- The impacts and trade-offs of achieving nature positive including avoidance and using nature based solutions and offsets.
- Balancing synergies and trade-offs between Net Zero and Nature Positive.
Business contributions towards the Kunming-Montreal Global Biodiversity Framework: learnings from sourcing collaborations and actions across value chains
This session, organized by UEBT, Textile Exchange, and OP2B
, saw the lead organizations share common lessons learned form industry coalition work in facilitating business action on biodiversity. Following that, representatives from companies shared their experiences in building a foundation towards achieving biodiversity targets across their supply chains. The session concluded with suggestions for what the valuable work of businesses is already doing for biodiversity on the ground – and how that can be replicated throughout global industry.