BCSD Australia News

Welcome to this week's newsletter from BCSD Australia!?

At COP16, significant agreements urge businesses to lead on biodiversity with new expectations for Indigenous inclusion, benefit-sharing on genetic resources, and corporate accountability on nature impacts. CDP is pushing for corporate disclosures on biodiversity and plastic-related impacts, aligning with Target 15 of the Global Biodiversity Framework and meeting investor demands for robust data. New research underscores the need for public-private collaboration frameworks to address complex sustainability challenges effectively. Finally, WBCSD’s new tool supports consistent nature metrics in the forest sector, driving standardised reporting and accountability.

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Target 15 of the Global Biodiversity Framework (GBF) enshrines the critical role of corporate disclosure in driving action. CDP was proud that our data played an important part in securing this landmark agreement and now, at #COP16, is driving momentum to secure a strong monitoring framework.

As governments look at the important synergies between the GBF and the Global Plastics Treaty over the coming weeks, CDP urges negotiators to seize this opportunity to ensure that the Plastics Treaty mandates companies and financial institutions to assess and disclose key plastic-related information.

This isn’t just an ask from us, it’s a demand from the market. Investors recognise that robust data is essential for their decision-making, to move the money and future-proof the economy.

?? Read more in the Financial Statement on Plastic Pollution, backed by more than 160 financial institutions: https://ow.ly/4pV450TLseg

?? The need for a new way of organising public-private co-creation: an evidence base ??

In our latest blog, we explore our headline research findings on the conditions and roles that are critical to enabling public-private co-creation to address complex and urgent sustainability challenges.

From connecting corporate and national transition planning ecosystems, to the need for dedicated intermediaries and adapting to local contexts, our headline research finding is that there is a clear need for normative architecture that aligns government, business, finance, and civil society to work together on the shared missions that will enable co-investment to accelerate the transition.

Read the full blog to explore our insights and learn how you can be part of this shift towards more impactful public-private co-creation on sustainability: https://lnkd.in/ejajFejm

?? OUT NOW: The Business Breakthrough Barometer! ??

Ahead of #COP29, businesses are warning that the next wave of large-scale investments in the net zero transition are at risk without bold government policies ??

Our new flagship report provides global insights from leading businesses on the opportunities and challenges of the net zero transition, and highlights a critical message: businesses want to go further, faster.

Key findings include:

?? 74% of leading businesses have increased their investments in the net zero transition over the past three years, motivated by growing commercial opportunity.

?? 66% of business leaders state that the investment case and infrastructure are the main barriers to acceleration, with executives frustrated that market structures are not effectively rewarding investments in low-carbon technologies.

?? 90% of those surveyed say they would invest more if governments implemented policies to address sector-specific barriers.

Read the full report to access further business and sector insights ?? www.wbcsd.org/barometer

?? Historic Outcomes at COP16: What Business Leaders Need to Know on Biodiversity and Accountability ??

The COP16 Colombia summit in Cali, Colombia, marks a pivotal moment for biodiversity, sustainability, and corporate responsibility, highlighting an urgent need for accountable and collaborative action. What do these key agreements mean for business leaders, particularly in legal, compliance, finance, and sustainability?

1. Indigenous Inclusion in Global Biodiversity Decisions For the first time, COP16 established a body that includes Indigenous communities in decision-making on biodiversity. Indigenous representatives will co-chair alongside U.N. regional nominees, ensuring that traditional knowledge informs global biodiversity strategies.

?? What it means for Australian businesses: Including Indigenous perspectives is not just ethically sound—it’s strategic. Recognizing the sustainability insights of Indigenous knowledge can help Australian companies build trust and innovate in a shifting regulatory landscape.

2. Corporate Accountability on Genetic Resources A landmark COP16 decision requires corporations to share financial benefits from the use of natural genetic resources. Companies in sectors like pharma and agriculture will contribute 0.1% of their revenues to a biodiversity fund, acknowledging the commercial value of these resources.

?? Implications for compliance teams: This sets new regulatory expectations for benefit-sharing with local and Indigenous communities. Australian companies should review compliance frameworks and benefit-sharing mechanisms, as these could soon influence market access and operational resilience.

3. Linking Biodiversity to Health and Economic Stability Another outcome links biodiversity to human health, emphasising that ecosystem degradation directly affects both environmental and economic stability. Sustainable business is increasingly viewed as an essential element of continuity planning, not just a “green” strategy.

?? Actionable takeaway: As investors demand stronger ESG (environmental, social, and governance) commitments, prioritizing biodiversity in risk assessments and investment strategies will distinguish forward-thinking companies.

4. Funding Gaps Remain – A Call for Greater Ambition COP16 revealed significant funding gaps, with current contributions far from the $20 billion annual target for developing nations set at COP15. This underscores the critical role of private sector leadership in financing biodiversity.

?? Reflect on your company’s impact: Private investments in biodiversity could drive sustainable growth and align with global agendas.

Data is essential to understanding if the Global Biodiversity Framework (GBF) is succeeding or not. Only CDP surfaces the information needed from corporates and cities to track progress against key 2030 targets, including Target 15, and support the implementation of the GBF.

To help drive this transformation, CDP and Business for Nature , in consultation with Glasgow Financial Alliance for Net Zero (GFANZ) , Science Based Targets Network (SBTN) , Taskforce on Nature-related Financial Disclosures (TNFD) , WBCSD – World Business Council for Sustainable Development , World Economic Forum , and WWF , have created an explainer document on nature strategies and nature transition plans. ?

This collaboration is a powerful step towards ensuring businesses and financial institutions can effectively respond to the urgent global transition ahead. ?? ?

? Explore how you can take action: https://lnkd.in/ehYK7apV

?? Business action is critical to reverse #biodiversity loss and secure a safe planet but complexity and little consistency around nature metrics are slowing progress.

?? To accelerate action and drive harmonisation on nature metrics, WBCSD’s Forest Solutions Group , with support from Quantis , has developed a tool to help companies in the forest products value chain to prioritize #metrics for assessing and disclosing on nature.

?? If you want to see and test the tool, simply ask us. You can find contact information and more details here: https://lnkd.in/eY4bEkCM

This work is part of the implementation phase of WBCSD’s Nature Positive Roadmaps, which developed a series of roadmaps for six high-impact systems, including the forest sector. This beta version of the tool for the forest sector is a prototype of WBCSD’s Nature Metrics Portal planned for release in 2025. Stay tuned for future updates!

As #sustainability gains importance in corporate governance, the risk of #greenwashing - misleading stakeholders about a company’s environmental impact - has escalated. Legal & #riskmanagement teams play a pivotal role in ensuring that all #ESG claims are substantiated, safeguarding companies from potential reputational, regulatory & legal repercussions.

In our latest Medium article, Allen & Gledhill LLP 's Elsa Chen and GRI's Dr Allinnettes Adigue set out best practices for legal and risk management professionals for mitigating greenwashing risks, all the while fostering collaboration across departments.

Read the full article here ?? https://lnkd.in/dW4npERK