Published
September 12, 2024
In addition to the well-known Climate COPs, the UN convenes global officials and experts at the Biodiversity COP biennially to address the interconnected crises of nature degradation, climate change, and food security. Two years ago, the UN adopted the Global Biodiversity Framework, elevating the risk of biodiversity loss to the attention of financial institutions and highlighting the private sector’s role in biodiversity conservation. This year, the U.S. Chamber of Commerce has been accredited to participate for the first time.
COP16 will focus on three main areas:
- National Policy Development: The 196 signatory nations of the Biodiversity Convention will work on new policies to protect and restore biodiversity within their borders. Although the U.S. has not ratified the Convention, it sends representatives to the conference.
- Financing Biodiversity Conservation: Both public and private sector financing will be key topics. Developing nations will push for a new global fund for biodiversity conservation. The EU disapproves, viewing existing mechanisms as sufficient. Developing countries argue these mechanisms fall short of their purpose.
- Compensation Systems: COP16 will explore compensation and benefits for countries and communities offering natural resources. This could involve payments, access to new technologies, and other sustainable development and conservation support.
Businesses are committed to conserving and restoring biodiversity through innovative technologies and services. Governments must recognize these contributions and understand the challenges companies face on the ground, to ensure that policies are developed to be long-lasting and sustainable. Against this backdrop, the U.S. Chamber will participate on the ground, representing the U.S. business community.
Key principles advocated by the U.S. Chamber:
- Embrace Modern Agriculture Technologies: Technologies that enable farmers to increase productivity with fewer inputs should be supported by government policies.
- Food Production and Environmental Sustainability are Inseparable: Sustainable agriculture relies on conserving natural resources. Increased food production and environmental conservation must be addressed simultaneously.
- Support Farmers: Small farmers should be central to climate-smart agriculture policies, improving access to modern technology, affordable financing, and training.
- Unrestricted Trade in Food and Agriculture Inputs: Food and agricultural inputs should be free from political and economic restrictions, promoting innovation in sustainability practices and providing financial incentives for conservation.
Companies are invited to join us in Colombia and stay engaged with our COP16 initiatives. For more information, please contact Anthony Hahn at ahahn@uschamber.com.
About the authors
Anthony Hahn
Anthony Hahn is the Coordinator for International Strategy and Global Initiatives at the U.S. Chamber of Commerce.
