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Businesses Could Pay $1 Trillion Biodiversity Bill

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As the United Nations Summit on Biodiversity meets on Wednesday, governments and businesses are being urged to commit to ambitious new targets.

“We have failed to meet any of the biodiversity targets we set in Japan 10 years ago,” UN Secretary General António Guterres told the virtual Leaders’ Pledge for Nature on Monday. “We need a new biodiversity framework.”

The new framework the UN Convention on Biological Diversity has in mind is to place 30% of the Earth’s surface under conservation status by 2030. This would almost double the amount of land and sea currently under protection.

On Monday, prime ministers of the U.K. and Canada, Boris Johnson and Justin Trudeau, said their countries would commit to protecting 30% of their land and sea by 2030.

Others are expected to follow suit on Wednesday (30 September) as leaders meet virtually for the United Nations Summit on Biodiversity. All eyes will be on what China brings to the table as Xi Jinping addresses the summit.

Up for discussion will be the post-2020 global biodiversity framework that will be adopted at the 15th Conference of Parties to the Convention on Biological Diversity. (The event was originally due to take place in Kunming, China, in October but has been postponed to May 2021).

However, conservation groups and organisations are concerned about who will foot the bill for these lofty new goals. Between Monday’s Leaders’ Pledge for Nature and Wednesday’s Convention on Biological Diversity many have already started the rallying cry of fundraising.

Paying The Price For Biodiversity

In the U.K., The Wildlife Trusts, a federation of 46 grassroots