We Mean Business Coalition statement on the outcome of COP15
María Mendiluce, CEO, We Mean Business Coalition
“COP15 concluded with a historic agreement from nearly 200 countries to protect 30% of the planet for nature by the end of the decade and restore 30% of degraded ecosystems, while centering local communities and indigenous people in the delivery of plans.
The Kunming-Montreal agreement sends a strong signal from governments that we must tackle the nature crisis with the same urgency as the climate crisis: both are inextricably linked. It gives a clear message to business on the importance of investing in nature-based climate solutions both within and beyond the value chain, and that nature must be an integral part of companies’ climate transition action plans. It sets out a policy framework that will empower business climate leaders to forge ahead, while putting all companies on notice that they must prepare to assess and disclose nature-related risks, dependencies and impacts.
However, similar to the outcome of COP27, there have been missed opportunities to do more. Target 15 falls short of mandating nature-related disclosures and instead uses language that governments must ‘encourage, enable and ensure’, which risks creating an unlevel playing field between countries.
Moving swiftly to implementation will be critical. We encourage governments to now put in place bold national policies that will enable companies to help accelerate the transition to an equitable, net zero and nature-positive world. Business stands ready to deliver.”