COP16 was a significant event as the first Biodiversity COP since the adoption of the Global Biodiversity Framework (or Kunming-Montreal Global Biodiversity Framework or the Biodiversity Plan) in 2022. This framework brought international consensus on the urgent need to protect and restore biodiversity, including the well-known "30x30" target to protect and restore 30% of land and oceans by 2030.

About COP16 2024: Key outcomes

• Key achievements from this year’s event included an agreement on expanding the role of Indigenous Peoples in biodiversity conservation, including the creation of a new Subsidiary Body to give them an institutional voice.

• A groundbreaking decision was made to operationalize a multilateral mechanism for sharing benefits from digital sequencing information on genetic resources, with the establishment of the 'Cali Fund'.

• The conference saw progress on integrating climate action and biodiversity efforts, adopting an action plan for biodiversity and health, and establishing procedures for describing ecologically and biologically significant marine areas.

• However, some discussions, particularly on addressing international biodiversity finance gaps, remain unresolved.

Nature tech debuts big at COP 16

This year’s COP 16 represented a big milestone for the Nature Tech Collective.

We moved from being participants to leaders in the conversation around nature and technology solutions - evidenced through our keynote presentation at Bloom, where a quarter of the main stage audience identified as Nature Tech Collective members (!) 

We officially announced our flagship business guide to integrating nature tech, already shared and engaged with by hundreds of professionals in the sector, and launched the first iteration of our Nature Tech Taxonomy framework. 

We received a clear message from potential nature tech buyers and investors at COP 16: the market has moved beyond awareness and is ready for implementation. Emphasis has shifted from questions of "why nature tech?" to "how do we actually integrate and use this nature tech?”.

COP 16 Debrief: Insights from Nature Tech Collective Community Members

We held a special collective discussion to share experiences and impressions of COP16. Below we summarize some of the insights that were shared in this discussion:

Megan Pilsbury, Founder of Dunya Analytics

• Too much expectation from the Corporate Sustainability Reporting Directive (CSRD)?

Some expect CSRD to rapidly unleash corporate funding into nature restoration. But this isn’t the aim of CSRD, as it’s purely a risk disclosure, transparency initiative. It’s designed to require companies to put more information in their sustainability or financial reports.

In theory, understanding nature related risks will lead to accountability, which should lead to action, which should then lead to investment. But this mechanism is unlikely to unlock financing that suddenly floods the nature restoration space. 

• Some companies report on biodiversity without understanding its importance

  There seems to be a gap in corporate understanding of sustainability regulations like the CSRD. While the CSRD aims to create transparency and connect environmental impacts to business activities, some companies view compliance as just an ESG (Environmental, Social, Governance) requirement, rather than a meaningful shift toward integrating environmental concerns into their operations.

  For instance, some companies question why metrics like land area (hectares) are relevant, failing to see how these relate to environmental degradation. Similarly, some companies report biodiversity data but might lack understanding of its significance to their operations.

  It feels there is a need for greater corporate awareness of the purpose behind these reporting standards and a more mature approach to biodiversity's role in business.

• More research needed on the relationship of business performance and good biodiversity management

  There appears to be a lack of research demonstrating the business case for companies to effectively manage biodiversity. While the connection between good biodiversity management and improved company performance seems logical, the supporting data and studies have not yet emerged in the same way they have for gender equity or climate change.

Daniel Vetterkind, CEO & Co-Founder of Recarb

• Combining nature tech startup outreach for better results

  There is a risk that industry big players and investors are overwhelmed by outreach from nature tech innovators. There is room to explore and test a more combined, unified approach for greater impact and success all round.

• Adding EU regulatory trends to our watchlist

  One area we are monitoring is the CSRD’s Section ESRS E4, where companies are asked to document efforts on nature and biodiversity. Larger companies, in this first round, can outline both the nature-related risks they face and any steps they’re taking to mitigate these. However, reporting on mitigation actions is still voluntary, not yet a requirement.

  We’re also focused on the Nature Restoration Law in Europe, which is separate from the CSRD. This law requires EU member states to submit their restoration plans by the end of 2026.

  There may be a lack of urgency in Europe regarding these measures, particularly in Germany, where companies are heavily focused on CSRD compliance and seem overwhelmed with data and documentation. We’re not expecting much from regulation in this area until member states put forward their plans.

Leena Al Olaimy, Founder & CEO of Symbaiosys

• Importance of helping companies identify the right nature solutions

  Many companies lack awareness of the specific nature-based solutions and services they require. Tools that help companies more easily identify and access the right nature tech tools and providers to address their particular needs and challenges will be particularly useful, and may improve companies' ability to locate and utilize appropriate nature-based solutions.

Sergio Martell, Founder of Orbis42

• Financing remains a challenge

  COP16 is a good example of a space we benefit from in terms of talking to corporate stakeholders directly. We are focused on efforts to support investment in climate action through the value chain, working with corporate partners like Heineken and Coca-Cola in Mexico. A key focus is the CEO Water Mandate, signed by 376 companies, which emphasizes that watershed and basin restoration requires nature-based solutions.

  Securing financing through environmental commodities and direct investments continues to be challenging, particularly in Mexico, where water scarcity and hydraulic stress are critical issues likely to impact all of Latin America.

Sathya Raghu MV, Co-founder & CEO of Soul Forest

• The need for locally relevant ‘labs’

  We gained valuable insights into the need for bioregional "living labs" that focus on ecological restoration. There was strong consensus around creating templates—whether we need 50 or 100—that ensure the highest quality of environmental progress, enhancing nature in measurable ways.

• Considering novel funding approaches

  We were struck by a counterintuitive but tactical funding approach. When nature-specific funds aren’t enough, why not position nature projects to draw from budgets dedicated to other priorities, like local livelihoods or women’s empowerment? If nature is truly interconnected with all aspects of life, couldn’t we tap into these broader funding pools to amplify impact for both people and the planet? An interesting topic for further debate.

Daniele Cesano, Founder & CEO of Landprint

• Organizing for greater impact

  It seems there is potential for an organized approach to scaling nature-positive efforts. For instance, living labs to test on-the-ground initiatives, while the Nature Tech Collective’s taxonomy helps us define metrics to measure these impacts.

  Risk modeling can show the economic effects of living labs, which could also support new financial mechanisms, all tied to disclosure frameworks like the TCFD. When we connect these pieces, a clear rationale emerges, suggesting we might benefit from building a more comprehensive approach.

  By focusing on real case studies and bringing together key players, we could prove this business model collectively, strengthening our impact as an organized group.

• The need for more financial risk case studies

  One major gap was the lack of case studies on the financial risks companies and investors face due to environmental degradation. While there’s widespread acknowledgment of the need to protect and restore nature, the financial business case for investing in nature remains underdeveloped.

  There’s also no standardized approach to data collection or scalable analytics to prove the business benefits of nature-positive investments. This lack of maturity in the sector, with limited tools and consistent information, seems to be a major barrier to advancing the discussion and securing the necessary $200 billion in funding.

Kurt McFarland, CFO at FLINTPro

• Metrics a key focus

  There was extensive discussion around metrics, particularly how we can effectively track and measure progress toward the targets set in Montreal. This includes figuring out the best ways to align our work, making it easier for our clients to understand and engage with these solutions.

Lucrezia Palma, Sustainability Specialist at 3Bee

• Businesses see nature disclosure as a compliance box to check

  Many companies don’t yet fully grasp their dependence on nature or the risks posed by climate change and environmental degradation. At COP, it was clear that many see compliance with frameworks like CSRD as just a box to check, rather than recognizing a genuine need to protect nature. For some, it’s still an obligation rather than a priority tied to long-term sustainability.

Interested to learn more?

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