USCIB convened a technical discussion on recent policy developments and trends pertaining to corporate biodiversity reporting on October 23 in Cali, Colombia during the 16th UN Biodiversity Conference of the Parties (COP16). Speakers explored best practices and challenges faced by businesses as they work towards meeting an ever-increasing amount of environmental reporting compliance demands.

Following UN Biodiversity COP15—and the adoption of the Kunming-Montreal Global Biodiversity Framework (KM-GBF) and its Target 15—pressure has been building for companies to measure and report on their biodiversity impacts, risks, and dependencies throughout their supply chains.

Speakers included Whitney Y. Baird, President & CEO at USCIB; Dr. Mark Johnston, Director at the UK Business Biodiversity Forum & Strategy lead for biodiversity at bp plc; Fiorella Sanchez Monge, Biodiversity Lead at KPMG Europe, Middle East and Africa, and co-leading the KPMG Global EU Deforestation-Free Regulations efforts; and Alena Cierna, Senior Programme Officer on Nature Economy at the UN Environment Programme World Conservation Monitoring Centre. Agnes Vinblad, Director of Environment & Sustainable Development at USCIB moderated.

“It is important that we don’t lose sight of implementation, and to recognize that reporting is only one small step in this process. When we talk about limiting biodiversity loss and nature impacts – there are no silver bullets,” said Baird during her opening remarks.