What will be discussed at COP16 (part 2), and how could your business be affected?
After losing quorum and suspending talks at the initial COP16 in Cali, Columbia, negotiators will once again convene to discuss key agenda items left unfinished in early November 2024.
Happening in Rome from 25 to 27 February, the biggest items under the COP16 for Biodiversity microscope are likely to be:
Resource Mobilisation Strategy
- Securing $200 billion annually by 2030 from all sources (note this includes private enterprise) to support biodiversity initiatives worldwide.
- Redirecting $500 billion per year in subsidies that harm biodiversity, towards initiatives that protect it, by 2030.
ππΆπ΄πͺπ―π¦π΄π΄π¦π΄ β π΅π’π¬π¦ π―π°π΅π¦! Production subsidies and consumer subsidies, as well as policies governing resource utilisation, could be expected to be eliminated, phased out or reformed, as governments respond to the finalised strategy.
Monitoring Framework
- Negotiators will seek to finalise the tools that Parties (i.e. governments) use, to measure progress against the 23 targets set out in the Kunming-Montreal Global Biodiversity Framework.
ππΆπ΄πͺπ―π¦π΄π΄π¦π΄ – π΅π’π¬π¦ π―π°π΅π¦! As a result, you may be required to provide more detailed and comprehensive data to the government to fulfil their national monitoring requirements, including land use and environmental resource management data.
At Zooss, our mission is to enable better business planning and reporting. We develop Sustainable Business Planning models that shine a light on your organisationβs interaction with, and impact on, nature – alongside traditional business planning domains such as financial and supply chain planning.
Find out more:
- Five key points all businesses need to know about Mandatory climate-related financial disclosure
- Social-related disclosure: The “new frontier” for ESG reporting
- Sustainable Business Planning solutions
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