Ambitions Kunming-Montreal Agreement on Biodiversity are focused around four main goals and 23 specific goals. The whole refers to two time horizons, 2030 and 2050, and the following KPIs caught our attention:
- providing protection for 30% of land and sea areas and responsible management of these areas,
- starting or completing the restoration of degraded terrestrial and aquatic ecosystems in order to increase biodiversity and restore their functions and services,
- halving food waste by 2030 and reducing global consumption through, among other things, education,
- sustainable management of areas where agriculture, aquaculture, fisheries, and forestry are practiced, and a significant increase in agroecology and other biodiversity-friendly practices,
- combating climate change through nature-based solutions,
- phasing out (by 2030) subsidies that harm biodiversity by at least $500 billion per year, while increasing incentives for sustainable and biodiversity-friendly activities,
- by 2030, establish a biodiversity fund with at least $200 billion annually from public and private sources,
- Require large and transnational companies and financial institutions to monitor, assess, and transparently disclose the risks, dependencies, and impacts on biodiversity through their operations, supply chains, and asset portfolios.
Furthermore, the agreement obliges countries to monitor and report every five years on selected indicators showing progress in achieving the above-mentioned goals (including the percentage of effectively protected land and sea areas and the number of companies disclosing their impact on and dependence on biodiversity).
Now, the countries that have signed this agreement (more than 180 countries) will have to implement frameworks for these commitments at the national and international levels and, before the next COP in 2024, prepare updated national strategies and action plans as well as national biodiversity financing strategies.
As a reminder, biodiversity issues are addressed in the ESRS (European Sustainability Reporting Standards), specifically in ESRS E4, which can be consulted and downloaded in our previous blog post: https://materialityacademy.com/blog/standardy-esrs-przekazano-do-ke
Information about. Kunming-Montreal Agreement on Biodiversity and the source text of the document are available here: https://www.cbd.int/article/cop15-cbd-press-release-final-19dec2022
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