How Global Partnerships Can Reverse Biodiversity Loss and Drive Climate Solutions

The World Economic Forum's "Champions for Nature" report urges global collaboration to address biodiversity loss and climate change, highlighting the importance of policy coherence, sustainable land use, valuing natural capital, and integrating Indigenous knowledge. It calls for immediate, ambitious action from governments and businesses to create a nature-positive, sustainable future.

The World Economic Forum's "Champions for Nature: Raising Ambition, Sustaining Impact," published in October 2024, presents a comprehensive call to action for global collaboration in addressing the dual crises of biodiversity loss and climate change. With contributions from notable institutions such as the Global Environment Facility, The Nature Conservancy, and Conservation International, the report aligns its insights with the goals of the Kunming-Montreal Global Biodiversity Framework. This framework, signed by 196 parties, sets a bold commitment to halt and reverse biodiversity loss by 2030 and achieve harmonious coexistence with nature by 2050. In doing so, it mirrors the significance of the Paris Agreement for climate action, but focuses on nature, emphasizing the need for a comprehensive, society-wide transformation of our economic and societal models to secure a nature-positive future.

Aligning Global Policies for Effective Action

The report emphasizes the urgency of coherent policies across international environmental frameworks such as the UNFCCC, the Convention on Biological Diversity, and the UN Convention to Combat Desertification. The fragmentation of policies and frameworks has hindered global progress, and there is a pressing need to align efforts across different sectors. Governments, businesses, and civil society must work in harmony to create synergies that advance nature-positive goals while also meeting climate and sustainable development targets. Despite global commitments to biodiversity and climate goals, current efforts are not sufficient to meet the scale and pace required to prevent ecological collapse. The report calls for greater coherence between policies, highlighting that only through integrated approaches can we create the necessary conditions for private sector investments in nature and climate action.

Sustainable Land Use as a Key to Resilience

Sustainable land use emerges as a critical pillar in the fight against biodiversity loss. Land degradation has already affected nearly 75% of Earth's terrestrial environment, with severe impacts on ecosystem services, food security, and climate stability. Restoring and sustainably managing land can mitigate these effects while creating economic value. The report underscores the importance of regenerative agricultural practices and sustainable land management as vital tools to achieve net-zero emissions and protect biodiversity. Companies, particularly in sectors like food and agriculture, are encouraged to commit to halting deforestation and land conversion, which are key contributors to carbon emissions. Furthermore, businesses must actively engage in land restoration projects that not only reduce emissions but also create jobs and drive economic resilience, particularly in rural areas.

Valuing Nature Through Economic Mechanisms

The valuation of natural capital is another crucial element of the strategy outlined in the report. By incorporating the true value of nature into economic decision-making, we can create incentives for its protection and sustainable use. The report calls for innovative market mechanisms and regulatory frameworks that recognize the contributions of natural systems to human well-being. Integrating natural capital into economic systems will help generate financial flows toward conservation efforts and encourage businesses to adopt nature-positive practices. The report highlights successful examples such as Costa Rica's Payments for Environmental Services program, which compensates landowners for conserving forests and supporting biodiversity. By valuing ecosystem services like water regulation, carbon sequestration, and soil health, we can ensure that conservation efforts are not only environmentally sustainable but also economically viable.

The Crucial Nature-Climate Nexus

In addition to land use and natural capital, the report emphasizes the critical relationship between nature and climate. Nature-based solutions, such as protecting forests and restoring wetlands, play a significant role in mitigating climate change by storing carbon and regulating ecosystems. However, current investments in nature-based solutions fall far short of what is needed to meet global climate goals. The report argues that there is no path to net-zero emissions without nature, and businesses and governments must act swiftly to integrate nature into their climate strategies. Nature's potential to contribute to up to 30% of the mitigation required by 2050 must be fully realized, and investments in nature-based solutions must be scaled up to address the climate crisis effectively.

Empowering Indigenous Peoples for Conservation

The report also highlights the invaluable role of Indigenous Peoples in conserving biodiversity and building climate resilience. Indigenous communities manage vast areas of biodiversity-rich land and have developed sustainable practices that have preserved ecosystems for centuries. Their traditional knowledge and connection to the land offer critical insights into nature-based solutions that can support global efforts to combat biodiversity loss and climate change. Despite their contributions, Indigenous Peoples often face systemic barriers to participating in policy-making and receiving financial support for their conservation efforts. The report calls for the inclusion of Indigenous voices in decision-making processes and the recognition of their rights, as well as for increased financial support for Indigenous-led conservation initiatives.

Ultimately, the "Champions for Nature" report urges global leaders, businesses, and civil society to unite in their efforts to protect and restore nature. The stakes are high: the report warns that without immediate and ambitious action, the world will fail to meet its biodiversity and climate targets. Governments must implement clear policies and investment rules that encourage the private sector to contribute to nature-positive solutions. At the same time, businesses must embrace the opportunity to lead in the transition to a sustainable economy that benefits both people and the planet. As the world approaches critical moments like COP16 and COP30, the report calls for a renewed commitment to collaboration and ambition, recognizing that the future of humanity and nature are deeply interconnected.