To achieve Target 15, CBD parties need to identify and implement measures that will encourage and enable businesses to better understand and report on their relationship with biodiversity. The draft Global Report on Collective Progress in the Implementation of the Kunming-Montreal Global Biodiversity Framework highlights that a significant bolstering of efforts is needed to meet the ambitions set out in the Target 15. Nevertheless, several successful case studies already exist and could offer inspiration for scaling up progress on Target 15 in other countries.
Implementing GBF Target 15 is particularly relevant because it addresses a critical market failure: the lack of consistent information on nature-related risks and impacts needed to mobilize private finance. For example, developing countries alone host around 70% of global biodiversity and are projected to receive much of the future investment in infrastructure, agriculture and natural resource sectors, yet biodiversity-related data available to investors and financial institutions remain limited. By requiring large companies and financial institutions to assess and disclose their nature-related dependencies, impacts, risks and opportunities, Target 15 reduces information asymmetries, supports better risk pricing and capital allocation, and helps countries align with rapidly emerging global disclosure expectations.
This side event will highlight successful examples in Target 15 implementation from different regions of the world. Aimed at representatives of CBD parties, the event will showcase measures with high potential for positive impact already implemented by different governments, and change driven directly by the private sector. For each successful example, speakers will reflect on what enabling conditions made them possible and what would be needed to replicate it.
Businesses and financial institutions in developing countries are key to integrating biodiversity into domestic investment, lending and business decisions, helping redirect capital towards biodiversity-positive activities. At the same time, multinational companies and global financial institutions with value chains in developing countries increasingly require biodiversity-related information from suppliers to meet their own disclosure commitments. The side event will also spotlight frontrunners from the private sector – businesses and financial institutions driving momentum on biodiversity assessment and disclosure – and how they can support national progress on Target 15 across jurisdictions.
The event will include a presentation from UNEP-WCMC on the status of Target 15 implementation. This will summarize insights from the draft Global Report on Collective Progress in the Implementation of the Kunming-Montreal Global Biodiversity Framework, which found that according to self-assessments, two thirds of national targets show no progress or insufficient progress on Target 15. It will also relay lessons from UNEP-WCMC's National Monitoring Support Initiative and other support to national and regional partners, on finding suitable data for headline indicator 15.1. Following the keynote, UNDP will chair the two panel discussion, with the first one focusing on government action for Target 15 implementation. This will offer a unique opportunity to learn about successful case studies and lessons learned from countries engaged in Target 15 implementation activities.
The second panel discussion will unpack opportunities for collaboration between governments and private sector, and particularly the role that business and businesses associations can play in driving progress on Target 15. This second panel will also shed light on the findings from the IPBES Business and Biodiversity Assessment by one of the experts involved in the assessment. Published in February 2026, the IPBES Business and Biodiversity Assessment reaffirmed that all businesses impact and depend on nature and sufficient data and methods already exist for businesses to be able to manage and report on these impacts and dependencies and associated risks and opportunities. Despite this, the assessment found that fewer than 1% of publicly traded companies report on nature. Drawing on over 100 actions for governments, finance, business and civil society identified in the assessment, the session will emphasize that businesses need to play an active role but cannot do it alone.
Agenda
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Item
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Speaker
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Time
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1
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Opening remarks
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Elke Steinmetz, Head of Division for International Cooperation on Biodiversity, Federal Ministry for the Environment, Climate Action, Nature Conservation and Nuclear Safety (BMUKN) – TBC
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18:15
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2
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Setting the scene: Presentation on Status of Target 15 implementation
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Alena Cierna, Senior Programme Officer, UNEP-WCMC
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18:25
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3
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Panel discussion 1: Government action for Target 15 implementation
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- Dr Wang Xin, Director General of Research Bureau of People’s Bank of China (PBOC) and Co-chair of the G20 Sustainable Finance Working Group.
- Kyosuke Inada, Director General for Sustainability Management, JICA
- Ntakadzeni Tshidada, Director of Biodiversity Policy Advice at the South African National Biodiversity Institute (SANBI)
- Ministry of Land and Natural Resources, Government of Zambia (TBC)
Moderated by Eva Bortolotti, Nature Finance Specialist, UNDP
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18:35
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4
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Panel discussion 2: Collaboration between business and governments on Target 15
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- Carlos Hernández, Senior Specialist for Cooperation and International Affairs, Alexander von Humboldt Biological Resources Research Institute, IPBES Business and Biodiversity Assessment expert.
- Mr. Motosaburo Saito, General Manager of the Forest Value-Creation and Promotion Department, Oji Holdings Corporation
- Entreprises pour l'Environnement (EPE) – TBC
Moderated by Sean Lees, Nature Pledge Coordinator, UNDP
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19:15
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5
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Closing remarks
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Tony Goldner, CEO, TNFD (TBC)
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19:40
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Title & Description |
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National readiness for nature-related disclosures in emerging markets
This is a study of five emerging economies with a view to assessing their readiness for nature-related disclosures. The studies were based on ten questions and data collected through interviews and questionnaires with regulators and supervisors, complemented by desk reviews. At the country level, the studies were led by UNDP-BIOFIN (Biodiversity Finance Initiative) country teams.
national-readiness-nature-related-disclosures-emerging-markets
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A LEAP for Nature: Advancing Nature-related Financial Risk and Opportunity Assessment in Malaysia
This joint report by Bank Negara Malaysia (BNM), the World Bank, and United Nations Development Programme’s Biodiversity Finance Initiative (UNDP BIOFIN) provides a guide for financial institutions and firms to assess and disclose nature-related dependencies, impacts, risks and opportunities (DIROs). It aims to: 1) Assess the current state of nature-related risk assessments and disclosures among Malaysian financial institutions and firms; 2) Identify key gaps and challenges in these practices; and 3) Provide practical guidance and recommendations to accelerate progress across the financial ecosystem. The findings of this report are substantiated by several analytical components: an updated ENCORE analysis of nature-related dependencies and impacts within Malaysian banks’ commercial lending portfolios; two nationwide readiness surveys conducted with financial institutions and publicly listed companies; and five pilot LEAP assessments with three financial institutions and two firms.
leap-nature-advancing-nature-related-financial-risk-and-opportunity-assessment-malaysia
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Study on Nature-Related Financial Risks in Zambia
The Study on Nature-Related Financial Risks
in Zambia draws on lessons and insights from
a range of international experiences, adapted
to Zambia’s unique context. The authors
would like to express their sincere gratitude
to all those who contributed to the
development of this report.
We extend our thanks to our colleagues from
the Global BIOFIN Team, and the UNDP
Zambia Country Office for their guidance,
technical inputs, and overall support. We are
also grateful to the Government of the
Republic of Zambia, particularly the Ministry
of Green Economy and Environment and the
Ministry of Finance and National Planning, for
their leadership and continued commitment
to advancing sustainable finance in Zambia.
study-nature-related-financial-risks-zambia
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Ruta metodológica para identificar el nivel de ambición de reporte de una empresa conforme al Marco TNFD
La consolidación de la naturaleza como una prioridad estratégica para el sector productivo colombiano ha impulsado una mayor alineación con los objetivos del Plan de Acción de Biodiversidad – PAB a 2030. En respuesta a esta evolución, el Programa de las Naciones Unidas para el Desarrollo – PNUD y su Iniciativa de Finanzas para la Biodiversidad – BIOFIN en Colombia presentan la propuesta de “Ruta metodológica para identificar el nivel de ambición de reporte de una empresa conforme el marco TNFD”, el cual desarrolla dos componentes principales:
un análisis técnico sobre los requerimientos de información ambiental, financiera y empresarial necesarios para la implementación de la arquitectura de métricas del marco TNFD;
la formulación de una herramienta para orientar de manera gradual el uso de métricas que cuenten con fuentes de información compatibles con los estándares del TNFD.
Este documento aporta elementos clave para fortalecer la capacidad del sector privado en la gestión, evaluación y divulgación de asuntos relacionados con naturaleza y biodiversidad.
ruta-metodologica-para-identificar-el-nivel-de-ambicion-de-reporte-de-una-empresa
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Methodological assessment of the impact and dependence of business on biodiversity and nature’s contributions to people of the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem
Methodological assessment of the impact and dependence of business on biodiversity and nature’s contributions to people of the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services
business-and-biodiversity-assessment
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Accountability for Nature: Comparison of Nature-related Assessment and Disclosure Frameworks and Standards
This updated edition of the report, co-authored by the United Nations Environment Programme World Conservation Monitoring Centre (UNEP-WCMC) and the United Nations Environment Programme Finance Initiative (UNEP FI), expands its scope to include pollution-related financial risks alongside nature-related assessment and disclosure approaches. Pollution is one of the five primary drivers of biodiversity loss (IPBES, 2019) and is increasingly recognized as a major financial and economic risk.
This edition includes a pollution addendum, which examines how pollution impacts ecosystems, economies, and financial stability. Pollution-related financial risks are increasingly reflected in global frameworks such as the Kunming-Montreal Global Biodiversity Framework (GBF) and the Global Framework on Chemicals (GFC), as well as through regulatory initiatives such as internationally binding plastic pollution agreements.
The report provides a comprehensive overview of key methodological and conceptual trends in nature- and pollution-related assessment and disclosure approaches, covering leading standards, frameworks, and reporting systems that guide private sector companies in assessing and reporting on their dependencies, impacts, risks, and opportunities related to nature and pollution. It distinguishes between: frameworks, which provide guiding principles for disclosure, Standards, which establish specific reporting requirements, and Reporting platforms, which help companies align with both voluntary and regulatory disclosure expectations.
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National Monitoring Support Initiative:
In December 2022, Parties to the Convention on Biological Diversity adopted the Kunming-Montreal Global Biodiversity Framework (GBF) and associated package of decisions. The package includes a global monitoring framework and mechanisms for planning, monitoring, reporting and review. The monitoring framework includes indicators to be used by Parties for planning, monitoring and reporting of implementation of national targets and the agreed global Goals and Targets. This places greater emphasis on transparency of implementation, which will require strengthened national capacities for monitoring across the scope of the GBF, and for enhanced biodiversity data and information management as a basis for planning, implementation, monitoring and reporting of progress. This initiative seeks to develop inclusive, collaborative and coordinated approaches to developing and enhancing national biodiversity monitoring systems, for the effective implementation of the GBF.
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