Biodiversity is fundamental to human well-being, planetary health, and economic prosperity around the world. Yet, it is facing an unprecedented crisis: nearly one million species are at risk of extinction. The current extinction rate is already tens to hundreds of times greater than the average over the past ten million years—and this rate is accelerating.
In response to this urgent situation, the Kunming–Montreal Global Biodiversity Framework was adopted on December 19, 2022, during the 15th Conference of the Parties (COP15) to the UN Convention on Biological Diversity. This landmark agreement aims to halt the alarming loss of biodiversity and drive global efforts to restore nature.
The Framework includes four long-term goals to achieve the 2050 Vision for Biodiversity, alongside twenty-three specific global targets set for achievement by 2030. These ambitious targets are grouped under three key themes: (1) reducing threats to biodiversity (Targets 1-8); (2) meeting people’s needs through sustainable use and equitable benefit sharing (Targets 9-13); and (3) tools and solutions for implementation and mainstreaming (Targets 14-23).
Here is the TARGET 15:
“Take legal, administrative or policy measures to encourage and enable business, and in particular to ensure that large and transnational companies and financial institutions:
(a) Regularly monitor, assess, and transparently disclose their risks, dependencies and impacts on biodiversity, including with requirements for all large as well as transnational companies and financial
institutions along their operations, supply and value chains, and portfolios;
(b) Provide information needed to consumers to promote sustainable consumption patterns;
(c) Report on compliance with access and benefit-sharing regulations and measures, as applicable;
in order to progressively reduce negative impacts on biodiversity, increase positive impacts, reduce biodiversity-related risks to business and financial institutions, and promote actions to ensure sustainable patterns of production.”
Target 15 represents a significant shift in the global approach to biodiversity conservation by explicitly recognising the critical role that businesses—especially large and transnational corporations and financial institutions—play in both the challenges and solutions related to biodiversity loss. Traditionally, conservation efforts have been led by governments and civil society, but this target calls for the private sector to take concrete, transparent, and accountable actions in line with global biodiversity goals.
By requiring regular monitoring, assessment, and disclosure of biodiversity-related risks, dependencies, and impacts, Target 15 seeks to bring greater transparency to business operations. This extends across entire supply and value chains, as well as investment portfolios, promoting a holistic understanding of a company’s footprint on nature. Such disclosures are expected to drive better decision-making, enable investors and consumers to make informed choices, and ultimately encourage companies to adopt practices that are less harmful—or even beneficial—to biodiversity.
The requirement for companies to provide information to consumers also empowers individuals and communities to support sustainable consumption patterns. This could manifest in clearer labelling, sustainability certifications, and improved reporting on the environmental impact of products and services. Additionally, reporting on compliance with access and benefit-sharing regulations aligns business operations with international standards and ensures that benefits derived from the use of genetic resources are shared fairly and equitably.
Ultimately, the implementation of Target 15 is designed to significantly reduce the negative impacts of business activities on biodiversity, while increasing positive contributions and reducing related risks. It also encourages a shift towards more sustainable production and consumption patterns, which is essential for achieving the broader ambitions of the Kunming–Montreal Global Biodiversity Framework and ensuring a healthy, thriving planet for future generations.
