TWO

THE SUCCESS of this agreement, however, cannot be taken for granted. The framework it creates could yet be undermined by slow implementation and if the requisite finance is not mobilised. While every country will have to increase domestic investments to support the ambition, it is imperative that more resources flow from the richer nations to the Global South where biodiversity is higher and means to conserve it lower.

Wealthy nations do not have a good track record when it comes to delivering on promises to provide finance to support the planet, a challenge that is immediately visible and apparent in the fight against climate change. Individual countries, too, are yet to make definite commitments – on finance, on ending subsidies and on other aspects of the framework.

Nature loss is rapidly becoming a fundamental threat to our prosperity, equality, social cohesion, and health and wellbeing. Without nature’s ability to absorb and store carbon from the atmosphere we won’t be able to stay below 1.5C of global warming. Because of these factors we must now see the immediate implementation of this agreement without excuse or delay.  

National governments must update national biodiversity strategies and action plans as soon as possible, with targets promised in line with the new global framework. Governments should be held accountable for the pledges they make. Leaders will reconvene in four years to take stock of whether governments are on course to meet their targets.

Observers of the agreement will be aware that the framework does have weaknesses. Decisions on some of the critical indicators needed to measure the state of biodiversity were delayed. For example, it lacks a hard numerical target for reducing the footprint of economic production and consumption.

The framework also fails to ensure a mandatory “ratcheting mechanism” under which governments would be required to increase action if targets are not met. There is weak language in the agreement in critical areas such as the protection of intact ecosystems.

Still, there is reason for cautious optimism. Wealthier nations have a clear responsibility to support developing countries in their efforts. It is encouraging to see the development of various initiatives such as the High Ambition Coalition for Nature and People, and the Leaders’ Pledge for Nature to develop national biodiversity finance plans. These platforms could increase cooperation between the rich world and developing countries.

Business also needs to accelerate its engagement. The private sector increasingly recognises the impacts and dependencies from nature, and that it cannot thrive with nature in decline. Coalitions such as Business for Nature and the Finance for Biodiversity pledge have demonstrated the willingness of leading voices in the private sector to take appropriate action. As the Montreal agreement takes effect, businesses will have much stronger national regulations to comply with in underpinning their efforts.

COP15 is an agreement which has given us a real chance in healing our relationship with nature. The seeds planted in Canada must be nurtured if the balance of the planet is ever to be restored to equilibrium.