Geoversiv welcomes the new pact with nature agreed by 190 nations in Montreal. We applaud the long hours and persistence through overtime negotiations of experts and diplomats working to reach the Agreement.
Through the Kunming-Montreal Global Biodiversity Framework nations will, both internally and collectively:
- Protect 30% of land and water to safeguard biodiversity, by 2030;
- Reduce to near zero the degradation of high-sensitivity, high-value, and high-integrity ecosystems;
- Reduce by at least half agricultural pollution—including fertilizers, pesticides, and other chemicals;
- Phase out by 2030 subsidies that harm biodiversity, by at least $500 billion per year, adding positive incentives for conservation and sustainable use;
- Raise biodiversity-related international financial flows from developed to developing countries to $20 billion by 2025 and $30 billion by 2030;
- Deliver $200 billion per year by 2030 to restore and protect nature;
- Require large companies to track and report biodiversity dependencies and impacts across supply chains and portfolios.
In line with Resilience Intel‘s work to envision and develop an integrated and holistic, adaptive and dynamic sustainable finance system, we see significant opportunities in linking the Global Biodiversity Framework goals and targets to:
- non-market approaches to international cooperative implementation under Article 6, paragraph 8 of the Paris Agreement;
- the reform of international financial institutions as outlined in the Bridgetown Initiative, and currently ongoing;
- rapidly emerging incentives for climate-smart, sustainable trade;
- transformational financial innovation linked to the Good Food Finance Network.
Future health and livability for our species will be shaped by how effectively we protect biodiversity and natural systems. This is a pact with nature, for the benefit of all people, and will become part of our reporting on the work ahead.