The United Nation’s annual biodiversity summit concluded with a landmark deal and new targets designed to reverse biodiversity loss. Hosted in Montreal and occurring two years behind schedule due to the pandemic, this year’s negotiations were particularly tense as the Chinese president pushed through a “30 by 30” deal despite resistance from some African states.
The historic deal aims to protect 30 per cent of the planet’s nature by 2030, reform £410bn of environmentally damaging subsidies and restore 30 per cent of terrestrial, inland water, coastal and marine ecosystems. The hope is that, if achieved, this deal will reverse the detrimental impacts humanity have had on planet earth’s nature, including ocean acidification, mass extinctions, deforestation and plastic pollution.
However, not all were in favour of the deal in the form it was delivered. Some African states, namely Uganda, The Democratic Republic of Congo (DRC), and Cameroon, felt the deal failed to create a new fund for biodiversity which could support developing nations with conservation. The 30 by 30 deal relies on the pre-existing Global Environment Facility (GEF) fund, the main recipients of which are Brazil, China, Mexico, Indonesia and India.
Despite this resistance, the deal was signed by over 200 countries, except for the US and the Vatican who did not sign. The deal is considered historic since it recognises the importance of protecting the Earth’s ecosystems, something ecologists and climate scientists have been urging for decades.
A Global Biodiversity Framework has been initiated immediately, outlining 23 actions and targets for nations to follow. The targets also highlight actions to be taken by large and transnational companies and financial institutions, including:
This means larger businesses will be under more pressure to assess, measure and value their impact on biodiversity, be transparent with consumers and regulatory bodies, commit to succinct targets designed to protect nature, transform supply chains and implement new climate-conscious strategies.
The deals made at COP15 have also received high praise for recognising the rights and territories of Indigenous people who are challenged with threats of violence and rights violations despite making significant contributions to protecting nature.
COP15 marks a positive change in attitude when it comes to protecting our planet and people. More than half of global GDP is dependent on ecosystem services, and 70 per cent of the world’s most vulnerable people depend directly on wild species. As countries, businesses and institutions continue to recognise the negative impacts their operations may be having on nature, greater contributions to land restoration and the protection of biodiversity will be made. Hopefully COP15 will be recalled as a turning point for nature.