Forging alliances for nature: High-Level Champion unites non-state actors in Cali for COP 16

H.E. Razan Khalifa Al Mubarak, the UN Climate Change High-Level Champion for COP28, will be attending COP16 to showcase the vital role actors in the real economy are playing to advance practical solutions to protect biodiversity, reduce greenhouse gas emissions and safeguard lives and livelihoods.

Building on COP15 when countries agreed to reverse the global decline of biodiversity by 2030 via the Kunming-Montreal Global Biodiversity Framework (GBF) , at COP16, Ms. Mubarak will join over 1,000 partners to showcase progress across a number of sectors including scaling finance for oceans and coral reefs.

“ The twin crises of climate change and biodiversity loss are deeply interconnected, and demand a unified approach. Nature is invaluable not only for its crucial role in decarbonization but also for its inherent worth. It sustains diverse life forms, underpins our well-being, and enriches our world in countless ways. We must heed the wisdom and stewardship of local communities and Indigenous Peoples who protect these ecosystems, recognizing that these natural systems deserve our utmost respect and preservation for their own sake as well as for the benefits they provide”, H. E. Razan Al Mubarak said.

At COP16, the High-Level Champion will highlight that non-State actors, including Indigenous Peoples, are key to driving actions to transform food systems and protect, restore and conserve nature, supporting the implementation of National Biodiversity Strategies Actions and Plans, Nationally Determined Contributions and National Adaptation Plans. The replenishment phase for the Coral Reef Breakthrough and additional funding for the Ocean Breakthrough will also be announced, contributing to a resilient and net zero planet by increasing investments by non-State actors in nature-based solutions to close the annual $542 billion per year financing gap.

As co–chair of the Taskforce on Nature-related Financial Disclosures, Ms. Mubarak will recognize the additional 96 entities committed to adopting recommendations from the group. The next cohort to proceed with nature-related reporting represents $6 trillion in market capitalisation, $16 trillion in assets under management and 25 percent are recognized as Global Systemically Important Banks (GSIBs). This commitment demonstrates the importance of nature inclusion in climate transition planning to deliver net zero outcomes for the corporate and financial sector.

Redirecting financial flows from nature-negative to nature-positive activities will also be central to discussions. Scaling finance for Indigenous Peoples on climate and nature protection and ensuring that finance reaches small farmers and local communities will also be highlighted by the High-Level Champion.

Furthermore, the High-Level Champion for COP28 will engage with mayors and representatives of subnational governments to support cities in implementing nature-positive actions under the Kunming-Montreal Global Biodiversity Framework.

With COP29 just around the corner and as we look ahead to COP30, the High-Level Champions will use their mandate from COP21 in Paris to enhance climate action, exploring opportunities, where appropriate, to support non-State actors and COP Presidencies to strengthen collaboration and accelerate the implementation of the Rio Conventions , in alignment with the Paris Agreement and the Global Biodiversity Framework.