What the Global Biodiversity Framework says about regulations on corporations

The specific use it? actions required of corporations under the Target are also largely insufficient: The good The first is to “Regularly monitor, assess, and transparently disclose their risks, dependencies and Target 14 calls for the integration of biodiversity impacts on biodiversity”. [...] Such corporate- to business and financial institutions, and promote led labelling makes consumers believe they are actions to ensure sustainable patterns of production.” buying more sustainable products while concealing However, as we will see in the following sections, the the impacts on the ground. [...] 1 The draft texts related to mainstreaming biodiversity Using the GBF to win battles across all sectors - meant to implement Targets 14-16 at the national and local level - only further enable greenwashing: the text is plagued with offsetting, self-reporting and self-certification. [...] The missing The reliance of governments on information provided The GBF was a unique opportunity to set up systems by corporations, both for aiming to reduce the overall of coordination to ensure coherent regulation of TNCs impact on biodiversity, and for stimulating consumers by all countries. [...] While the overall aims of the relevant to opt for environmentally friendly products, implies targets may point to progress, the lack of concrete a governmental responsibility to ensure the accuracy regulations, systems to set them up, and follow-up and adequacy of such corporate information, including on implementation, weaken the GBF as a whole.