What the Global Biodiversity Framework Means for Your Business—and How to Take Action
The Kunming-Montreal Global Biodiversity Framework (GBF) is an historic agreement adopted by 196 countries at COP15 in December 2022.1 The GBF outlines an ambitious roadmap to halt and reverse nature loss by 2030 and live in harmony with nature by 2050, and is supported by 23 targets for 2030 and four goals for 2050. Although the GBF is not legally binding, it requires countries to monitor and report on their progress against the GBF’s goals and targets every five years.
The GBF is considered by some to be the “Paris Agreement” of nature: a global agreement towards which countries, companies, and other members of society can coordinate nature action. The GBF, like the Paris Agreement for climate, offers companies a chance to position themselves as leaders in nature stewardship. Early movers gain recognition by aligning with this global commitment, demonstrating that they intend to do their part to contribute to global biodiversity goals. It can strengthen a company’s credibility with stakeholders, and help align a company’s actions with the regulatory trends that emerge as countries aim to meet their obligations under this agreement.
What are the guiding principles of the GBF?
The principles of the GBF provide some guidance as to the responsibilities and approach companies should take. It calls for the “involvement of all society”, including companies, and emphasises the need for “responsibility and transparency”, and the “critical role of science”. Crucially it requires that actions towards meeting the GBF must be led by, or have the full, informed consent of, Indigenous Peoples and Local Communities.
However, the GBF’s global scope means it lacks specificity about how much of which actions are taken where. For example, Target 3 aims for the protection of 30% of global land and sea for nature by 2030, but it does not specify which areas or habitats should be protected, or require countries to protect 30% of their own land and sea areas. This creates an implementation gap, leaving companies unclear what action is needed, how much, where and by whom. For companies operating across multiple geographies, this lack of specificity makes it difficult to determine where to focus efforts to contribute to this global framework.
Where do science-based targets for nature come in?
By setting science-based targets for nature through the Science Based Targets Network (SBTN), companies take comprehensive and measurable action towards the global goals of the GBF, prioritising areas where they bear the greatest responsibility and where action is most needed. For example, companies that set targets through SBTN set basin-level water pollution targets where they have the most impact, informed by the specific ecological requirements of each basin and in collaboration with other local stakeholders. This localised, science-based, and collaborative approach enables companies to make measurable contributions to global goals where nature needs it most.
Science-based targets for nature are also consistent with the principles of the GBF. The methods encourage companies to take responsibility for their greatest impacts on nature, and ensure transparency through public target disclosure. The target-setting process is grounded in using the best available science to decide what action is needed. Stakeholder engagement is integral to every step, with guidance available in SBTN’s upcoming version 1 Stakeholder Engagement Guidance.
The science-based targets for nature methods directly address GBF Target 15 alongside the disclosure recommendations of the Taskforce on Nature-related Financial Disclosures, and also have important crossovers with other GBF Targets, which we will explore below.
Target 15 and science-based targets for nature
Target 15 calls on governments to take measures to encourage and enable companies to monitor, assess, and disclose their risks, dependencies, and impacts on nature, in order to reduce negative impacts on biodiversity and increase positive impacts.
This global target is not about incremental impact reduction or damage limitation, but instead about companies taking meaningful action to put their business on a path towards sustainability. Science-based targets for nature enable companies to meet this mandate with a science-driven approach to impact management. This involves not only identifying, addressing, and disclosing their most significant impacts such as deforestation and pollution but also actively working to enhance positive outcomes for nature including watershed restoration and rehabilitating degraded land. This approach ensures that companies make quantifiable progress in both reducing harm and contributing to nature’s recovery, aligning with global expectations and taking strategic, effective actions toward long-term sustainability.
Contributing to other GBF targets
SBTN shares a number of thematic overlaps with the GBF Targets, which helps companies take action towards meeting the global goals. For example, the SBTN Landscape Engagement target enables companies to collaborate with local partners in their priority landscapes to improve a range of ecological and social indicators that have been defined in collaboration with these partners. This approach addresses different impacts on nature, such as land use, land use change, and soil pollution. The landscape-scale, impact-focused, and participatory nature of this target means it can be used by companies to contribute towards GBF targets such as:
- GBF Target 1: “Ensure that all areas are under participatory, integrated and biodiversity inclusive spatial planning and/or effective management processes addressing land- and sea-use change”… “while respecting the rights of indigenous peoples and local communities”.
- GBF Target 10: “Ensure that areas under agriculture, aquaculture, fisheries and forestry are managed sustainably…”
- GBF Target 11: “Restore, maintain and enhance nature’s contributions to people, including ecosystem functions and services…”.
For a more exhaustive mapping of the GBF global Targets to which science-based targets for nature can help contribute, see Figures 1 and 2 below.
How can companies get involved?
If your organisation is attending COP16, we hope to see you there – a few of the Science Based Targets Network team and the broader Global Commons Alliance team will be present throughout, and you can visit our website for more information on our events and activities at COP.
Wherever companies are on their sustainability journeys, Business for Nature’s practical guide offers a pathway to develop and publish corporate nature strategies. It is based on high-level “ACT-D” business actions, which provides a gateway for companies to take their next relevant steps to ensure both business and nature thrive.
For companies looking to take science-based action on nature now, all companies can assess their environmental impacts using SBTN’s prescriptive materiality assessment and prioritization methods. Companies can also join the SBTN Corporate Engagement Program alongside more than 150 peers who are preparing to set science-based targets for nature.
- This Conference of the Parties (COP) is held by the Convention on Biological Diversity (CBD), one of the three agreements negotiated at the 1992 Rio Earth Summit. The CBD’s mandate is the conservation, sustainable use of, and equitable sharing of benefits arising from biological diversity, so is quite separate from the UN Framework Convention on Climate Change (UNFCCC) COPs.
