December 19, 2022, Vancouver — Canopy welcomes the commitment by national governments to protect 30% of the world’s land and marine areas by 2030 as an important step to conserving half of the planet, including giving priority to ecosystems with “high biodiversity” and “high integrity”, and committing to “close to zero” loss of biodiversity by the end of this decade – all of which is laudable. Also of significance is the key action to redirect $500 Billion of the $1.8 Trillion in subsidies that have been fuelling unsustainable industries – like commercial logging and fossil fuels – that have been major drivers of the biodiversity crisis.

However, it remains unclear as to whether significant funding will be provided to support these ambitious goals. Without it, many nations will be unable to protect critically important and endangered ecosystems – like primary forests – and the world may continue to lose plant and animal species at an untenable rate.

With these gaps in mind, there is a need for the business community to demonstrate leadership as well. This includes making significant commitments to help fund conservation efforts whilst simultaneously reducing their own impact on, and consumption of, materials sourced from our natural world. Canopy believes that the planet deserves nothing less. Canopy also encourages the best practice of nature-based disclosures as part of companies’ annual reporting and to use “nature positive” as a guiding principle of their sustainability efforts.

“COP15 has made some important advances in conservation targets, spurring the transition to sustainable production, and reducing pernicious subsidies of unsustainable supply chains,” said Nicole Rycroft, Canopy’s Executive Director. “However, given the current shortfall in funding, it is important that the business community also step in to champion Life on Earth – to transform their supply chains to be less reliant on biodiverse hotspots and transition from raw materials to circular feedstocks wherever possible. With rich nations’ failure to provide the meaningful funding required, we need companies to step up – as Kering and L’Occitane have done this week with their new fund – to financially support Indigenous and Global South nations’ work to conserve key regions. We call on businesses to join with us, and our 900 market partners, in rising to this challenge, to bring their full influence to protect forests for climate, biodiversity, and continued survival.”

About Canopy
Canopy is a not-for-profit environmental organization dedicated to protecting forests, species, and climate. Canopy has collaborated with more than 900 companies to develop cutting-edge environmental policies that transform unsustainable supply chains, spark innovative solutions, and protect our world’s remaining Ancient and Endangered Forests.