Halting biodiversity loss ranked as top priority in 2024 by companies and public institutions, report says

Published 13:57 on March 18, 2024  /  Last updated at 13:57 on March 18, 2024  / Giada Ferraglioni /  Biodiversity, International

More than 100 experts have agreed to identify biodiversity and ecosystem protection as the top priority for systemic change in a report published by French not-for-profit ChangeNow and realised in partnership with consultancy KPMG.

More than 100 experts have agreed to identify biodiversity and ecosystem protection as the top priority for systemic change in a report published by French not-for-profit ChangeNow and realised in partnership with consultancy KPMG.

Informed by the views of specialists from companies (55%), associations (18%), and public and institutional institutions (7%) from 20 different countries – with greater representation from Europe – the first Earth Action Report outlined five “essential” priorities for addressing the ecological and social challenges of 2024, and analysed several “actionable” solutions.

According to the report, biodiversity preservation has been “unanimously” placed at the top of concerns, ranked ahead of energy transition and fossil fuel dependence, adaptation to climate change, social inequality, and water resources (pollution and scarcity).

“This imperative [the protection of biodiversity] goes beyond simple conservation efforts, it is about halting further damage and initiating the recovery of Earth’s crucial natural environments,” the authors said in the report. “Protecting the vast array of species and recognising the interconnectedness of all life are essential steps in this process.”

MAIN CHALLENGES

As nature preservation climbs the political and economic global agenda, the study underlined that many stakeholders still lack a comprehensive understanding of biodiversity and its importance in addressing the climate crisis, “leading to apathy or insufficient action towards conservation efforts”.

“Despite its critical importance, biodiversity conservation frequently finds itself in the shadow of climate change debates, resulting in less visibility, funding, and action dedicated to combating biodiversity loss,” the report highlighted.

Furthermore, the authors claimed that the scarcity of data on ecosystems, especially in marine environments, is significantly delaying the national and global fight against biodiversity loss.

Since effective monitoring is regarded as a key factor in mobilising funding and orienting conservation strategies, over the past few years, advanced technologies such as environmental DNA (eDNA) have contributed to enhancing biodiversity uplift measurement.

“The current shortfall in advanced methodologies for ecosystem restoration … presents a critical obstacle,” the study said. “Difficulties accessing vital data and ensuring its transparency hinder effective collaboration and informed decision-making.”

The report highlights several other obstacles to pursuing biodiversity preservation, including “inadequate” global governance frameworks and the absence of “robust” regulations and “clear” incentives.

RECOMMENDATIONS

In response to these challenges, experts outlined a five-step strategy to preserve ecosystems and foster a sustainable future by addressing systemic challenges.

According to the authors of the report, the top priority is to immediately cease deforestation and start widespread ecosystem restoration action in a bid to safeguard biodiversity and improve climate resilience.

“It is crucial to promote renaturation programs by financially supporting specialised entities in ecological restoration efforts (environmental engineering) for targeted renaturations,” the report said.

“Additionally, efforts should be made to conserve areas of ecological interest by acquiring and setting aside wetlands, forests, natural grasslands, marine floors, etc., for preservation.”

Promoting regenerative agricultural practices is regarded as another critical step to halt and reverse biodiversity loss. It can be done by providing economic incentives to farmers to encourage them to shift towards sustainable approaches, as argued by Elisabeth Whitlow, executive director at Regenerative Organic Alliance who was among the report’s contributors.

“We need to demonstrate the benefits, to showcase the new world model for regenerative organic agriculture by bringing farmers to the stage and letting agriculture take the seat at the table,” Whitlow said.

The analysis also mentioned the need to implement sustainable fishing practices and regulations to prevent overfishing, habitat destruction, and bycatch in marine and freshwater ecosystems, along with the necessity of prioritising soil health for ecosystem stability, and promoting community-led initiatives by engaging Indigenous and local communities in conservation efforts.

By Giada Ferraglioni – giada@carbon-pulse.com

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