(Monday 19th December) Commenting on the adoption of Kunming-Montreal Global Biodiversity Framework at COP15 in Canada today, Katie Leach, Head of Biodiversity at responsible investment NGO ShareAction, said:
“World leaders have today taken an important step towards saving nature by adopting the Kunming-Montreal Global Biodiversity Framework. However, vague wording and non-specific targets in parts of the agreement could undermine the urgent action that’s needed to protect threatened wildlife and ecosystems.
“The success of this framework will come down to implementation and how the goals and targets are interpreted at a national level.
“Target 15 for all large and transnational businesses and financial institutions to assess and disclose their risks, dependencies and impacts on biodiversity has huge potential to drive action to halt and reverse biodiversity loss – governments should make it mandatory and call for implementation in line with the Taskforce on Nature-related Financial Disclosures (TNFD).
“It was encouraging to see the appetite from the global investment community at COP15 to play their part in protecting our natural world. Now, we need to see them come together to work out how they can use this Framework as a foundation to drive up more ambitious standards.”