Biodiversity loss is one of the most pressing global issues of climate change we face, resulting primarily from human activities. From deforestation to habitat destruction, our actions are pushing many species to the brink of extinction. Companies worldwide often contribute to environmental degradation through their harmful business practices, yet they also have the power to be part of the solution. This is where the Kunming-Montreal Global Biodiversity Framework (GBF) comes in. The GBF includes several elements that are aimed at bridging the gap between business and nature – integrating biodiversity conservation across private sector activities. While this framework holds promise, there are still many questions about how effective it will be in halting biodiversity loss and securing a sustainable future for both businesses and nature.

The Kunming-Montreal Global Biodiversity Framework

Among the many existing frameworks concerning biodiversity conservation, the GBF is perhaps the most inclusive and comprehensive. It holds a bold vision for halting and reversing biodiversity loss by the year 2030 and ensuring sustainable biodiversity management by 2050. The GBF attempts to tackle complex challenges of environmental degradation through its set of strong-sustainability driven targets. Covering everything from conservation and restoration to sustainable use and financial mechanisms, the GBF attempts to encompass numerous environmental, social, and economic challenges. Of particular interest are four targets within the GBF that focus on bridging business and nature. These targets will be crucial for aligning the economy with the urgent need for nature conservation.

Target 14: Integrate Biodiversity in Decision-Making at Every Level

Target 14 is a crucial part of bridging business and nature within the GBF. This target is a call to action for governments and businesses to incorporate biodiversity into decision-making at all levels. Unfortunately, in many business settings, short-term financial goals overshadow long-term ecological benefits. By valuing biodiversity, and the services it provides in policies and practices, we pave the way for more sustainable growth opportunities while ensuring nature thrives alongside human progress.

Target 15: Businesses Assess, Disclose, and Reduce Biodiversity Related Risks and Negative Impacts

Businesses have the potential to impact biodiversity through many avenues, often unknowingly contributing to its decline through harmful practices. Through Target 15, the GBF calls upon businesses to more vigorously measure and report their biodiversity-related risks. This is about more than just compliance, rather it is about understanding the complex links between business operations and nature. Vital to the success of this target will be the availability and rigour of biodiversity impact tools accessible to businesses. With better tools companies can shift from being biodiversity’s enemy to its ally.

Target 16: Enable Sustainable Consumption Choices to Reduce Waste and Overconsumption

As humans we do aim to conserve wildlife and their habitats, but our habits of producing and consuming goods plays an equally crucial role that it often neglected. Target 16 seeks to address these challenges by targeting supply chains and overconsumption, urging businesses and consumers alike to adopt greener practices. This target goes beyond just reducing waste, it’s about reshaping entire markets to prioritise thrivability. By making sustainable choices the norm in our societies we can help preserve ecosystems while still meeting the needs of a growing population.

Target 18: Reduce Harmful Incentives and Scale Up Positive Incentives for Biodiversity

Did you know that globally we spend at least $2.6 trillion on environmentally harmful subsidies each year? These incentives fuel practices that deplete biodiversity and mask the real costs of production. Target 18 aims to rectify this issue by calling for the reform of harmful subsidies and the introduction of positive incentives that will promote biodiversity conservation. By shifting financial priorities, we can not only save ecosystems but also unlock new economic opportunities that align with a sustainable future.

Bridging Business and Nature: Why Should They Care?

Around the globe, biodiversity plays many crucial roles through the ecosystem services and functions that it provides. The loss of biodiversity is significantly impacting many of Earth’s key ecosystem processes which are essential for productivity and sustainability. For example, biodiversity accommodates:

• Pollination: Animals like bees, butterflies, birds, and bats are all key pollinators. Their pollination services are crucial to approximately 75% of our crops.
• Pest & disease control: Loss of biodiversity disrupts key food chains which are critical to regulating pest populations in ecosystems. For example: birds and ladybirds help control harmful agricultural pests like aphids and caterpillars.
• Nutrient cycling: Nutrient cycling involves the transfer of energy and matter between living and non-living parts of an ecosystem. Plants, microorganisms, and larger animals all have roles to play in this cycle. Nutrient cycling supports soil fertility and water quality, which is important for many industries.
• Recreation: Biodiversity-rich environments are essential for recreational activities such as ecotourism. Ecotourism can generate significant revenue for organisations and local communities.

Companies relying on natural resources, such as agriculture and forestry, face disruptions from the loss of ecosystem services, including supply chain instability and resource scarcity. It is for this reason that investing in biodiversity should be a top priority for businesses. Regulatory frameworks, like the GBF, demand the private sector reduce ecological impacts, helping to guide a transition towards more biodiversity friendly business practices.

Tools for Assessing Business Impacts on Biodiversity

If business’ are to reduce the environmental impact of their operations, so called ‘biodiversity footprints’, it will be essential for them to have access to appropriate impact assessment tools. Currently, there exists many biodiversity impact metrics that serve this purpose. These tools make it easier for organisations to evaluate their environmental impacts. However, developing meaningful metrics is tricky because measuring biodiversity is inherently difficult and its links to business are complex.

Additionally, different tools approach the problem in different ways. Some metrics focus on the bigger picture, assessing biodiversity at a broad, regional, or even global level (e.g. the Mean Species Abundance metric). Others take a more detailed approach, focusing on specific threats to biodiversity or the needs of individual species and their habitats (e.g. the Species Threat Abatement and Restoration metric). Unfortunately, there is currently no agreement on which tools are best for different situations. This lack of consensus can lead to mistakes in businesses’ understanding of the true impacts of their operations on biodiversity, hindering efforts of bridging business and nature. Such a lack of standardisation also opens avenues for potential greenwashing, which presents its own threats to biodiversity conservation.

Bridging Business and Nature: How Well Does The GBF Do It?

The GBF is a bold attempt at bridging business and nature. Key targets – 14, 15, 16, and 18 – show promise in promoting business transparency, reducing harmful practices, and integrating biodiversity considerations into economic decision-making. However, vague definitions and a lack of strong governance mechanisms present significant challenges in the GBF’s implementation. For instance, key terms like “harmful subsidies” lack standard definitions, which can lead to inconsistent interpretations and even greenwashing.

Lessons from past failures, like the Aichi Targets, highlight the need for transformative societal change, better coordination across sectors, and stronger enforcement mechanisms. International collaboration is also crucial, yet some major players, like the United States, remain outside the GBF. Without clearer strategies and greater accountability, these targets risk becoming another set of ambitious but unfulfilled promises. Businesses must recognise that their survival and growth are intricately tied to the health of the natural world, and adopting sustainable practices is not just an ethical responsibility, but a business necessity.

A Thrivable Future

THRIVE Project‘s mission is to create a future where humanity doesn’t just survive, but also thrives. With a focus on ensuring the ‘thrivability‘ of all species on earth, THRIVE works to explore solutions for a future beyond sustainability. Through the THRIVE Framework, THRIVE investigates key issues and opportunities for change. We then offer insights that promote both environmental and social sustainability, without compromise.

The success of the GBF relies on strong partnerships between governments and businesses. This aligns with SDG17, a goal which stresses the importance of collaboration to tackle global challenges. If we hope to halt biodiversity loss collective action will be necessary, sharing resources and knowledge both across sectors and around the globe. By fostering these partnerships, the GBF supports SDG17’s vision of a united effort to achieve a thrivable future, as true progress will come collaboration.

To dive deeper into the concept of thrivability, visit our website. Here you’ll find a wealth of resources, including blog posts, whitepapers, and free monthly webinars. Stay connected with the latest updates from the THRIVE Project by following us on LinkedIn. The THRIVE Project is always open to new collaboration opportunities. If you’re interested in exploring how our organisation can support your goals, don’t hesitate to get in touch. We’d love to work together towards creating a thriving future.