Aviva and World Wildlife Fund (WWF) have called on governments and policy makers for more guidance on how the private sector can contribute to national and global environmental targets beyond net-zero in a nature-positive way.
In its latest joint report, National nature-positive pathways to guide policy and private sector action, the organisations urged governments to develop ‘nature-positive pathways’ and lay out how sectors need to contribute to the delivery of the Global Biodiversity Framework, which the UK government signed up to at COP15 last year.
This comes as the World Economic Forum (WEF) estimated a shift to nature-positive models could create $10trn (£7.5trn) globally by 2030 in nature-positive technologies and business models.
Specifically, the report explained how nature-positive pathways would enable the UK Government to tap into the benefits of the transition and attract private financial flows by:
1. Clarifying the direction of policy and regulation.
2. Aligning with the goals and targets of the Global Biodiversity Framework.
3. Aligning nature and climate transition pathways and planning.
4. Incentivising long-term investment and realising commercial opportunities.
Karen Ellis, chief economist at WWF, said: “Businesses have told us that the transition to a nature-positive, net-zero economy is one of the biggest business opportunities since the industrial revolution.
“But businesses need clarity and stability before investing in the solutions we need to restore nature and transition away from practices that harm it. So, the Government must set out clear pathways for key sectors of the economy – like those that have been developed to help tackle the climate crisis.”
Claudine Blamey, chief sustainability officer at Aviva, added: “The prosperity of society, our economy and financial system depend on the health and resilience of nature and its biodiversity, which is why we’ve launched today’s report with our partners at WWF.
“Developing nature-positive pathways, together with net zero pathways, will provide much needed clarity on how different economic sectors are expected to transition to protect and restore nature. This would lead to greater investment in nature and increase the active role the private sector can play in contributing to the urgent change we need to see.”
Next month, the government is publishing an updated version of its National Biodiversity Strategy and Action Plan.
