29 October | 10:00 – 11:00
HOST: Naturalis
VENUE: Netherlands Pavilion, Blue Zone – Yerevan, Armenia
FORMAT: Side-event
DESCRIPTION
Conservation efforts surrounding biodiversity have reached a critical paradox. While there is increased global awareness of the urgent need to combat degradation of nature, a financing gap persists in biodiversity conservation and restoration. Effects of biodiversity losses are not merely ecological, but increase risks in our socio-economic systems. The interdependence between society and biodiversity is not only a source of risk, but also an opportunity to create economic value. Several reports indicate that every €1 invested in nature restoration adds between €4 and €38 in value through economic growth in tourism and healthier environments to live in. Therefore nature-positive economic systems are not only a moral imperative but also an economic opportunity, capable of unlocking $10 trillion in annual economic value by 2030, by transforming the economic systems that are responsible for almost 80% of nature loss.
The route towards achieving this involves three parallel tracks: phase out harmful activities, scale-up nature-positive activities, and change the economic system into nature-positive. The scientific data and tools to facilitate this are being gathered and in development. However, waiting for perfect ecological forecasting will delay action with the risk of making the eventual transition more disruptive and expensive.
This raises the question: How can biodiversity data build the ‘nature intelligence’ to improve financial and economic sector decision-making now? This is the topic addressed in this side event.
Moving forward, key elements include understanding what private sector decision-makers need and improving the alignment between biodiversity knowledge institutions. Closer collaboration helps to strengthen biodiversity methodologies and insights so they become more decision-useful and applicable within financial sector practice.
OBJECTIVES & DESIRED OUTCOMES
As the main outcome, we aim to formulate the three most promising next steps underpinned with specific commitments from partners towards a more agreed, robust yet practical way forward for business level impact and opportunity analysis.