Green Economy
Enero 13, 2023 - < 1 min

Biodiversity takes center stage

The financial sector is beginning to take on board the need to protect biodiversity.

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The climate crisis affecting the planet is complex. Public opinion has been primarily focused on the urgent efforts we must make to reduce our greenhouse gas emissions. But that is only part of the equation. That is why United Nations is organizing another summit focused on a key aspect of the planet's balance: biodiversity.

The last one, called COP15was held in Montreal, Canada, in mid-December. And although the results of the meeting were far from the ideal objectives, there was good news. The first is the global interest that the issue is finally attracting.

As highlighted by Bloomberg, among the 17,000 delegates attending this latest summit were several hundred representatives of global private financial institutions and large corporations. The Summit also agreed to establish protection areas equivalent to 30% of the planet's surface, including oceans, islands and continents.

And private sector representatives launched proposals for new financing mechanisms to support biodiversity, such as debt-for-nature swaps. Biodiversity is important in many ways. Healthy ecosystems purify water and help absorb CO2, to name the two most basic.

According to estimates by the World Economic Forum, about half of the world's GDP is generated by businesses that depend on nature and its degradation, if it continues at this rate, could eliminate US$2.7 trillion (millions of millions) of global GDP by 2030.