COP 16: A call to action at IDOM: our clients and stakeholders are eco-dependent

"From the industrial revolution to the natural revolution"

IDOM would like to share with you the main challenges addressed at COP16, which took place from 21 October to 1 November in Cali, Colombia, as well as the achievements and opportunities that this important international event offers to society.

 

Main challenges addressed at COP16.

• How to reverse the trend of biodiversity loss through binding agreements between different negotiating parties.
• Make companies more aware of the ecological interdependencies of ecosystem services in relation to their activities.
• Ensure that the actions of people living in biodiverse areas are developed by increasing the resilience of ecosystems, avoiding overstepping their limits, and implementing strategies that allow communities to benefit from natural resources without compromising the capacity of ecosystems to recover and continue to provide ecosystem services.
• Leverage additional financial resources for conservation.

Key achievements of COP 16.

• Recognition of the importance of multilateralism for sustainable wildlife management and conservation of natural capital.
• The inclusion of local communities and indigenous people in decision-making in their own territory.
• Companies that benefit commercially from the use of DSI (digital sequences on genetic resources) should contribute to the ‘Cali Fund’ based on a percentage of their profits or revenues.
• In terms of biodiversity financing, the creation of a new global financial instrument dedicated to biodiversity, designed to receive, distribute, mobilize and articulate funding needs, is explored.
• A new thematic action plan is introduced in relation to synthetic biology to help meet the capacity building, technology transfer and knowledge sharing needs of Parties, as well as indigenous peoples and local communities.
• Guidelines for the management of invasive alien species are proposed, addressing issues such as e-commerce, multi-criteria analysis methodologies, capacity building and technical support for developing countries.
• 119 countries (out of 196 parties to the CBD – Convention on Biological Diversity), have submitted national biodiversity targets: policies and actions to help achieve the 23 targets of the KMGBF (Kunming-Montreal Biodiversity Framework); 44 countries have submitted their National Biodiversity Strategies and Action Plans as a policy document that will support the implementation of these national targets.
• The integration of ‘One Health’ strategies to mitigate biodiversity loss, manage zoonotic disease risks and strengthen financial and ecological commitments to human, animal and environmental health and well-being.

Opportunities and insights from COP 16:

While the implementation and monitoring of the KMGBF is seen as an achievement, with 44 of the 196 Parties to the CBD having submitted their National Biodiversity Strategies and Action Plans, and this is a great achievement, biodiversity loss continues to increase, so much so that ‘WWF’s Living Planet 2020 report revealed some news: since 1970, populations of mammals, birds, fish, reptiles and amphibians have declined by an average of 68%’. IDOM, as a global company, has the capacity to provide solutions to these 44 countries to implement their strategies, plans and policies at a local level. In addition, to help those that are missing to submit them on time in the coming months.

A shift from the ‘polluter pays’ premise to the ‘creation of value chains that have a lower impact’.

IDOM has the technical capacity to assist various clients in optimizing their processes to achieve the KMGBF targets, in particular target 15 “(…) transnational corporations transparently and regularly monitor, assess and disclose their risks, dependencies and impacts on biodiversity, with the aim of progressively reducing negative impacts on biodiversity, increasing positive impacts, reducing biodiversity-related risks for business and financial institutions, and promoting action towards sustainable production patterns” by generating practices that are positive for nature.

One of the development models that has been widely accepted and discussed is bioeconomy. IDOM has made very important progress in terms of capacity building in various institutions, which will allow the benefits to be extended and the market to be extended to more areas.

November 22, 2024

Environment