Recommendations for governments on the implementation of Target 15(a) of the Global Biodiversity Framework

Detalles

This document provides recommendations for governments to implement Target 15 of the Global Biodiversity Framework, including how governments can adopt legal, administrative or policy measures to 1) encourage and enable companies to transparently monitor, assess and disclose their risks, dependencies and impacts on biodiversity; and risks, dependencies and impacts on biodiversity; and 2) guarantee with requirements that all large transnationals do so, including throughout their operations, supply and value chains and portfolios. Recommendations for the effective implementation of Target 15:

Clarify the proposed approach to implementing Target 15 in NBSAPs.

Adopt mandatory assessment and reporting requirements for all large companies and financial institutions.

Create an enabling environment to encourage all companies to assess and disclose their risks, dependencies and impacts on biodiversity.

Ensure the coherence and interoperability of disclosure mechanisms.

Require an assessment and disclosure process that takes into account nature-related risks, impacts, and dependencies.

Adopt requirements covering value chains and portfolios, as well as location-specific information.

Require that impacts on affected communities be integrated into the assessment and disclosure process.

The document focuses on subparagraph (a) as a key and most urgent starting point to ensure that companies, businesses and financial institutions assess and disclose nature-related risks, dependencies and impacts, and that this information is included in the report and nature-related impacts, and that this information is included in all decision-making by the private sector, finance and governments. This is the cornerstone of positive action on nature.