Alexa Testing Insight

 

In December 2022, 196 governments reached a historic agreement during COP15 in Montreal. Considered “the nature equivalent of the Paris Agreement,” the Kunming-Montreal Global Biodiversity Framework calls to protect at least 30% of lands and waters by 2030, alongside restoring 30% of degraded ecosystems.¹ Under Target 15 of the COP15 goal, all nations are specifically encouraged by the Kunming-Montreal framework to take legal or policy measures to enable businesses and financial institutions to monitor and disclose biodiversity-related risks, dependencies, and impacts.

Beyond these important goals, companies must still comply with existing regulations on nature reporting. Starting in 2024, the EU’s Corporate Sustainability Reporting Directive will require companies in sectors with heavy reliance on natural resources to report nature-related impacts on and risks for biodiversity and ecosystems.² France’s 2019 Law on Climate and Energy similarly requires financial institutions to disclose across both biodiversity and climate, including risks, strategy to reduce impacts, and targets and metrics aligned with international biodiversity goals.

While these policies will drive greater corporate action toward biodiversity conservation (like the Paris Agreement did for climate action), few companies to date have been able to measure and act on nature. There is a significant need for companies to start treating climate and nature as integrated issues and consider strategies to tackle nature and climate jointly.

There are many ways in which the planet serves as a life support system for humans. Nature serves as a key ingredient for drug discovery, with most (>70%) anti-cancer drugs inspired by nature.³ Additionally, indigenous communities around the world rely heavily on traditional and locally sourced medicines to treat illnesses effectively and affordably.

 

 

Wreaths Across America Example