COP17 exposes biodiversity implementation gaps as business calls for urgent government action

ICC delivered a closing statement on behalf of business, thanking the Armenian COP17 Presidency for the excellent organisation of the conference and the transparent and inclusive negotiation process. The statement called on governments to provide clearer guidance and enabling a whole-of-society approach to implementation, with meaningful participation by Indigenous Peoples and local communities, women, young people and business.

Three priorities for governments post COP17:

1. Scale finance for nature. COP17 concluded with a hard-fought agreement on resource mobilisation. Nature finance came through as a common thread for almost all items in the agenda, including in the Global Review on implementation. The decisions made at COP17 show a path forward to finance nature, but it will be imperative for governments to create the enabling conditions to mobilise public and private finance at scale for the investments needed to protect and restore nature, including addressing barriers that constrain private capital flows.
   
   Governments must strengthen the conditions for public and private investment in biodiversity conservation, restoration and sustainable use. This includes de-risking nature investments, strengthening market integrity and aligning incentives with measurable nature-positive outcomes. Regulatory barriers must also be addressed, including aspects of prudential and capital rules that constrain private investment, particularly in emerging and developing markets.
2. National implementation plans should integrate the private sector from the outset. COP17 showed that well-deployed national implementation strategies can amount to meaningful collective progress. For global business, this is an encouraging sign for implementation strategies that respond to local needs and national priorities while providing the coherence and clarity that local and international businesses need to operate.
   
   The implementation strategies should provide businesses with practical guidance and clarity on nature-related metrics and disclosures, nature-positive supply chains and innovation. Governments must establish approaches to measurement, transparency and implementation that build trust, reduce fragmentation and enable broader participation.
3. Make the Cali Fund work for broader business participation. ICC welcomed the decision to move forward on several aspects of the multilateral benefit sharing mechanism and reaffirmed its commitment to work with Parties, rightsholders and other stakeholders to ensure a mechanism that is workable, clear and proportionate. The mechanism must support research and innovation that contributes to environmental and societal goals, and provide the legal certainty needed to incentivise contributions. It should also offer more proportional pathways for businesses to contribute, ensure transparent and accountable governance and deliver effective biodiversity outcomes.

On the road to COP18, ICC will keep working with governments, Indigenous Peoples and Local Communities, international organisations and other stakeholders towards halting and reversing nature loss.