Davos 2023: Business has a critical role to play in reversing nature loss

Davos 2023: The World Economic Forum Annual Meeting is the only yearly gathering that brings together leaders of global society. The heads and members of more than 100 governments, top executives of the 1,000 foremost global companies, leaders of international organizations and relevant non-governmental organizations, the most prominent cultural, societal and thought leaders, and the disruptive voices of the Forum’s Young Global Leaders, Global Shapers and Technology Pioneers come together each year to define priorities and shape global, industry and regional agendas.It will be held 16th-20th January 2023.

WWF AT DAVOS 2023

Our planet is in the red. The way we currently produce and consume is causing a catastrophic loss of nature and pushing the natural systems humans and businesses depend on to the brink. Protecting and restoring nature is fundamental to economic prosperity, sustainable development, and addressing the climate crisis.

At the end of 2022, over 190 countries adopted a landmark agreement to reverse biodiversity loss by 2030. The Kunming-Montreal Global Biodiversity Framework is the guiding light for all to correct for the sake of people and the planet.. At Davos, WWF is calling on government and business leaders to show they are committed to playing their part in delivering this agreement to reverse biodiversity loss for a nature-positive world this decade.

An equitable, nature positive, net zero emissions world

Science tells us that reversing biodiversity loss is vital to limiting climate change to 1.5C and avoiding runaway global warming. It also plays an important role in increasing the resilience of the most vulnerable to the impacts of the climate crisis, while helping reduce the risk of future pandemics.

But we need to do more, and faster. The nature crises is accelerating, and as we lose nature, we lose one of our most valuable assets to maintain a healthy planet and healthy people.

Net zero is not enough. We also need to be nature positive. Reversing biodiversity loss to be nature-positive by 2030 is essential to securing a sustainable and resilient world for all. It requires immediate actions and funds to realise this global goal.

Business has a critical role to play in reversing nature loss

1. Commit to nature

Companies can commit to protecting, restoring and investing in nature, including through Science Based Targets (SBTs) for climate through the Science Based Targets initiative (SBTi), and by preparing to set SBTs for other natural systems through the Science Based Targets Network (SBTN) - companies can register their interest in doing this here.

2. Act for nature

Companies deliver on commitments by protecting nature and natural systems in the landscapes and jurisdictions where they operate, or from which they source commodities like timber or palm oil, by using tools and approaches such as the Accountability Framework, and by investing in nature-based solutions to minimize environmental impacts, stop land conversion and deforestation, and increase supply chain resilience.

Financial institutions can incorporate climate- and nature-related risks in financial decision-making, and scale investment in net-zero and nature-positive activities, including by adopting the Task Force on Climate-related Financial Disclosures framework for managing climate risks, and by supporting the Task Force on Nature-related Financial Disclosures to manage nature risks. Asset owners can join other major institutional investors in the Net-Zero Asset Owner Alliance and align portfolios for a 1.5°C future.

See how leading companies are already taking integrated action on climate and nature.

3. Advocate for nature

Business and finance can make the business case for nature and influence decision-makers in key business, finance and policy fora by joining the Business for Nature coalition, supporting its policy recommendations, and calling for a New Deal for Nature & People that puts nature on the path to recovery by 2030.