The UK hosted IPBES12 nature summit has ended with the agreement of a Business & Biodiversity Assessment to shape private sector action on nature.
The gathering of scientists, businesses and governments from more than 150 countries in Manchester has concluded with the approval of a new Business and Biodiversity Assessment to guide the actions businesses can take to save nature.
Image: Overview of the Business and Biodiversity Assessment
Nature Minister Mary Creagh commented:
“Nature is the lifeblood of our economy, and the nature crisis represents a profound threat to our way of life, which is why the UK is committed to leading the way and was pleased to host this summit.
“This crucial new assessment, agreed by 150 countries, will provide a vital framework for global businesses to help them better understand the risks they face from nature degradation and the action they can take.”
The 3-year scientific assessment, agreed at the IPBES 12 conference which ran from 3 February to 8 February, involves 80 expert authors from every region of the world. It will become the accepted state of science on the impacts and dependencies of business on biodiversity and nature’s contributions to people, providing all decision-makers with evidence and options for action to measure and better manage business relationships with nature.
IPBES (Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services) was established under the aegis of the United Nations Environment Programme (UNEP) in 2012, the IPBES secretariat is based in Bonn, Germany.
The government said it will continue to support the private sector to take action on nature. Following the announcement of a pioneering Overarching Principles Standard for nature markets last year, the government will continue to work with the British Standards Institution on further nature investment standards. This will help to boost investor confidence in nature markets, enabling them to do more for biodiversity.
The government will also continue to look at how it can support businesses to understand and address their impact on nature through their supply chains, including through the UK-supported Taskforce on Nature-Related Financial Disclosures.
Click here to download the Summary for policymakers of the methodological assessment of the IPBES Business and Biodiversity Assessment Report
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