Trillion-dollar companies urge government action to halt nature loss by strengthening policies

From Investing.com: 2024-07-15 19:10:30

Over 100 companies, including Unilever and L’Occitane, are urging governments to strengthen policies to halt nature loss by the end of the decade, with 1 million species facing extinction. A deal in 2022 pledged to protect 30% of natural ecosystems, to be discussed at the COP16 summit in October. Companies stress the importance of protecting biodiversity for the future.

132 companies with $1.1 trillion in combined revenues are demanding stronger action from governments to protect nature. Teck Resources, Danone, RWE, and Holcim are among those supporting measures like subsidy reform and sustainable farming practices. Destruction of ecosystems, pollution, and climate change are endangering wildlife and disrupting natural systems crucial for food production.

Companies warn that failing to protect nature could lead to dire consequences, with impacts on food supply, livelihoods, and human life. Olam Food Ingredients highlights the importance of nature for food production, citing the reliance on bees for pollination in almond farms. Deforestation of the Amazon has already affected weather patterns and agricultural production globally.

Nestle Latin America CEO emphasizes the essential role of nature for human life, stressing the importance of water and ecosystems for survival. Companies are calling for government intervention to establish market-wide rules and incentives to drive nature-friendly practices. Cooperation is needed to ensure sustainable resource use, integrate nature into decision-making, and strengthen global agreements on nature conservation.



Read more at Investing.com: Trillion-dollar group urges government action to stop nature loss By Reuters