October 18, 2024
By Samuel Ogunsona
The 16th Conference of the Parties to the Convention of Biological Diversity (COP16) in Cali will witness a significant convergence of non-State actors and Governments to advance talk on climate solution.
This event aims to showcase the vital role of non-State actors in advancing practical solutions to protect biodiversity, reduce greenhouse gas emissions, and secure people’s well-being.
Building on the achievements of COP 28, where nature was placed at the heart of the UAE Consensus, Ms. Mubarak will engage with non-State actors and representatives of national and subnational governments.
The convergence of nature and climate agenda is essential to achieve the Paris Agreement, the Global Biodiversity Framework, and set more ambitious goals to protect our environment, halve emissions by 2030, and create more resilient and inclusive societies.
Ms. Mubarak emphasized the importance of scaling up financing for Indigenous Peoples and redirecting financial flows from nature-negative to nature-positive activities.
She will also highlight progress on financing for coral reefs and oceans. As co-chair of The Taskforce on Nature-related Financial Disclosures, Ms. Mubarak will recognize additional entities committed to adopting recommendations from the taskforce.
The next cohort represents $6 trillion in market capitalization, $16 trillion in assets under management, and 25 percent of the world’s systemically important banks (GSIBs) committed to nature-related reporting. This demonstrates the critical need to include nature within climate transition planning to deliver net-zero outcomes for the corporate and financial sector.
Ms. Mubarak will participate in the announcement of the replenishment phase of the Coral Reef Breakthrough, an initiative securing the future of at least 125,000 km2 of shallow-water tropical coral reefs with investments of over $12 billion, directly impacting more than half a billion people by 2030. In support of the Ocean Breakthroughs, the UN Climate Change High-Level Champion will announce additional funding with partners to catalyze action for a healthy and productive ocean by 2050.
H.E. Al Mubarak will highlight that non-State actors, including Indigenous Peoples as stewards of nature, are key drivers in transforming food systems and protecting, restoring, and conserving nature. This supports the implementation of National Biodiversity Strategies Actions and Plans, Nationally Determined Contributions, and National Adaptation Plans.
Under the Nature Positive for Climate Action initiative, more than 450 business and financial institutions are committed to advancing climate and nature goals simultaneously. Furthermore, over 250 non-State actors have taken action to transform food systems and signed the Transforming Food Systems for People, Nature and Climate call to action, launched at COP 28. These initiatives demonstrate the momentum of efforts by non-government actors to make people, ecosystems, and economies more resilient.
On the road to COP 30, H.E. Al Mubarak will focus on supporting non-State actors and COP Presidencies to strengthen collaboration and accelerate the implementation of the Rio Conventions, aligning with the Paris Agreement and the Global Biodiversity Framework.
