132 companies, with a total revenue of $1.1 trillion, exclusively shared a letter with Reuters demanding decisive action on nature loss. Companies such as Unilever, L’Occitane, and Iberdrola are urging governments to implement stricter policies to meet a United Nations target of halting the loss of nature by 2030.
This goal was set as part of a global effort to protect biodiversity, which includes a commitment to safeguard 30% of Earth’s natural ecosystems.
Ahead of the upcoming COP16 biodiversity summit in Colombia this October, where countries will discuss how to achieve these objectives, 132 companies with a collective revenue of $1.1 trillion have called for more decisive action.
Their demands cover a range of measures, from reforming subsidies to improving water use and farming practices.
Also read: Investors to start talks with companies to drive policy action on nature loss
“If we don’t focus on nature, if we don’t focus on biodiversity, the business that we operate may not even exist in years to come,” said Rishi Kalra, executive director and group chief financial officer of Olam Food Ingredients (OFI), one of the world’s biggest suppliers of food and beverage ingredients.
For example, the company relies on bees to pollinate its almond farms, Kalra said in an interview.
“Food may not be available. People may not have a livelihood if nature is not protected.”
The letter, organized by the advocacy group Business For Nature, emphasized that voluntary corporate efforts alone would not suffice.
It stressed the crucial role of governments in compelling businesses and financial entities to safeguard and rejuvenate natural resources actively.
The recommended actions include promoting sustainable resource utilization, integrating nature into decision-making processes and transparency efforts, and forging robust international agreements to combat biodiversity loss.
