UN Biodiversity Chief Warns Companies Fail to Address Nature Loss

UN biodiversity chief Astrid Schomaker stated that companies and financial institutions are failing to act sufficiently against nature loss. Speaking ahead of COP17 preparatory talks in Nairobi and Convention on Biological Diversity meetings in Armenia, Schomaker noted that corporations are not investing adequate resources into analyzing supply chain dependencies and impacts.

Schomaker attributed this inaction to the location-specific nature of biodiversity risks and a lack of government disclosure requirements. She pointed to a stark imbalance in global funding, citing a United Nations study that found over $7 trillion is invested in environmentally harmful activities, an amount that far exceeds funding for nature protection.

Upcoming priorities for COP17 include reviewing the 2022 Kunming-Montreal Global Biodiversity Framework and scaling the Cali Fund. This initiative aims to redirect profits from the biotechnology and pharmaceutical sectors toward nature conservation efforts.