Business for Nature demands: Reform $1.8 trillion yearly environmentally harmful subsidies to deliver a nature-positive economy

News in the Framework of the European Business & Biodiversity Campaign

 

Business for Nature demands: Reform $1.8 trillion yearly environmentally harmful subsidies to deliver a nature-positive economy

Ahead of the last round of CBD negotiations before the UN Biodiversity Conference COP15, The B Team and Business for Nature launch a joint brief called "Financing Our Survival: Building a Nature-Positive Economy through Subsidy Reform".

© Business for Nature
02/17/2022: The brief summarizes the key messages from a study by subsidy experts Doug Koplow and Ronald Steenblik and aims to inform government and business decision making on Environmentally Harmful Subsidy (EHS) reform.

EHS are government programs that encourage unsustainable production or consumption and harm nature by exhausting natural resources, degrading global ecosystems, and damaging planetary health. These subsidies exist in various forms, from cash payments to government provision of credit, liability caps, special tax breaks or regulatory exemptions, or below-market provision of publicly owned goods or services.

EHS are prevalent in a wide range of sectors, including agriculture, construction/housing, forestry, fossil fuels, marine capture fisheries, transport, and water. These sectors account for the vast majority of GHG emissions and impact ecosystems.

More information and the full brief on businessfornature.org
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