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Climate change and biodiversity loss are inextricably linked challenges, which present systemic risk for investors. PRI recognises the important role investors can play in addressing these twin crises and supporting a sustainable future.
David Atkin, CEO
What is COP 15 and why does it matter?
The Convention on Biological Diversity (CBD) is one of the three Rio Conventions set up in 1992, alongside the UN Framework Convention on Climate Change (UNFCCC) and the UN Convention to Combat Desertification (UNCCD). The CBD will be hosting the second half of its 15th conference (COP15) this December in Montréal, Canada, after a 2-year postponement due to the COVID-19 pandemic. It is organised under the Presidency of the People’s Republic of China and is nature’s equivalent to the UN climate change conferences hosted by UNFCCC.
COP15 will conclude the negotiations for a post-2020 Global Biodiversity Framework, that should ensure biodiversity loss is halted and reversed by 2030, with a vision of living in harmony with nature by 2050. Many parties and stakeholders (including the private sector) have been calling for an ambitious post-2020 Global Biodiversity Framework that will set the necessary global targets to support future action from policymakers, corporates and investors. This includes consideration of commitments and actions to ensure alignment of public and private financial flows and policy frameworks to deliver those targets. Consequently, COP15 has the potential to be the “Paris moment for nature”.
Climate and nature are intrinsically intertwined – climate change is a key driver of biodiversity loss, while deforestation accounts for 11% of global greenhouse gas emissions . Nature also has the potential to provide one-third of the necessary solutions and further build systemic resilience to adverse climate impacts, if implemented rapidly and at scale. PRI has encouraged investors to join the dots between the COP27 (UNFCCC) and COP15 (CBD) and to…
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