Biodiversity Loss: No Future for Business As Usual

Abstract

There is an urgent need to reverse biodiversity loss as has been identified in a wide range of reports. This short commentary article considers the need for businesses to act on biodiversity and nature loss. In partic- ular, the focus of the article is a statement issued in November 2022 by a number of businesses imploring governments to take action to address biodiversity loss. The businesses are petitioning for government action on the basis that they can only pledge to radically change their business models if there is political certainty in respect of government actions on biodiversity. This commentary considers this November 2022 statement and sets out relevant context for understanding the statement. KEYWORDS: biodiversity, nature loss, COP15, Convention on Biological Diversity. JEL: Q5, H0, M1