Business for Nature launched its high-level policy recommendations to governments on Tuesday, urging policy makers to take ambitious decisions to drive global systemic and transformative change. Calling 2020 a “Super Year,” the partnership of business leaders and conservation advocates said their proposals represented a new deal for nature and people, as business executives joined with heads of government to kickstart the transformation of our economic and financial system.
Business for Nature is calling on governments to adopt five policy recommendations to accelerate business action, align policy frameworks, and transform economic and financial times:
- Adopt targets to reverse nature loss: provide direction and ambition
- Align, integrate and enforce policies for nature, people and climate: Ensure coherence
- Value and embed nature in decision making and disclosure: Go beyond short term profit and GDP
- Reform subsidies and incentive mechanisms: Finance a just transformation
- Join forces for nature and empower everyone to act: Engage, enable and collaborate
The five priorities are intended to create policy ambition that will in turn encourage positive business action.
Separately this week The World Economic Forum released two major reports, emphasizing the importance of turning attention to nature related risks. Biodiversity loss and ecosystem collapse is one of the top five threats to humanity.
At a panel discussion inside the Goal 17 Partners space in Davos, several experts agreed that policy frameworks and the financial system must be transformed to recognize and reward truly sustainable companies.
Wie Peng, Head of Sustainability at COFCO Internationals said: “The interconnectivity of nature, climate, and people cannot be over emphasized and can no longer be ignored.”
Helena Helmersson, COO of H&M agreed. “I would really like to put emphasis on doing this transformation journey together where I think it is crucial that governments, also with a transformative mindset, work on laws and frameworks. And businesses take it seriously and know their value chain,” she said. “Together we need to step up in leadership.”
Marco Bizzarri, President and CEO of Gucci, highlighted the importance of transparency and collaboration in a historically private industry. Bizzarri recently launched a Carbon Neutral Challenge to other CEOs in the fashion industry to reach targets before 2050. “The problem is the supply chain, for our industry (it) represents 90 percent of the impact.”