The GBF, adopted at the UN Convention on Biological Diversity COP15, includes 23 action-oriented targets for the decade to 2030, with the aim of achieving a nature positive world by 2050. Ipieca supported the development of the GBF, providing industry technical feedback on a draft version, helping to make the GBF relevant to the industry and as ambitious as possible.
COP16 is the first COP since the GBF was adopted and as such is seen as an implementation COP. Governments will be asked to review how they have implemented the GBF and show how their national biodiversity strategies and action plans align with the GBF.
While governments are primarily responsible for delivering the targets set by the GBF, the regulations and strategies they set to do so will affect every sector. Successful implementation of the GBF will require businesses to mainstream biodiversity.
The oil and gas industry can serve as an essential partner in supporting governments to achieve the GBF targets by integrating responsible environmental practices, such as the mitigation hierarchy, within its operations and sharing its existing knowledge of environmental management with other energy and industry sectors.
