The event was held at Lancaster House. Credits: Pack Shot, Shutterstock
The UK government held a major international summit on Wednesday, June 25th. It aims to increase private investment to stop biodiversity losses by 2030.
It will be held at Lancaster House London Climate Action Weekthe event brought together business leaders, environmental groups and representatives of indigenous peoples from around the world, and King Charles attended a well-known reception.
Push to fund a global natural recovery
The summit, entitled “Natural Action: Framework and Finance Mobilization,” focuses on how to achieve the ambitious goals of UN natural trading, signed in Montreal.
This includes a $2 billion (EUR 17.233 billion) target for funding to developing countries by 2025, and increased to $30 billion (EUR 25.8 billion) by 2030.
UK Environment Secretary Steve Reid called nature the “skewstone of society” and said the UK is “ready to guide the climate and nature.”
“Nature supports everything. Without it there is no economy, no food, no health, no end, no society.”
Key financial commitments and business support agreed
Several companies and NGOs announced new investments and partnerships at the summit.
- Basecamp Research has expanded its global biological networks to Malawi, Hungary, and Scripps institutions.
- Ginkgo Bioworks, a leading biotechnology company, has pledged its future contribution to the CALI Fund, which promotes profit sharing from natural resources.
- Conservation International and Silvania have revealed a collaboration to invest millions of people in nature-based solutions.
- The UK-backed African deepening financial sector will launch the Natural Finance Innovation Lab for Africa-led projects.
- Environmental Bank has introduced “natural stocks.” This is a voluntary UK investment scheme targeting forest restoration, water quality, flood protection and green space access.
Private investment is considered essential
Nature’s special representative, Ruth Davis, said public funding alone would not satisfy the scale of the challenge.
“We must take advantage of the private sector’s potential to drive a natural recovery and take advantage of the opportunity to supercharge businesses to see the return on investment in a natural positive economy.”
Reflecting this urgency, Nature England Chairman Tony Juniper said, “The net of life is declining and urgent action is needed… Growing nature is an integral part of growing the economy.
WWF warning
WWF-UK CEO Tanya Steele welcomed the financial pledge but warned that finances alone were not enough.
With Brazil’s COP30 approaching November this year, the UK has established itself as a global leader in “sustainable finance,” the pillar of its new industrial strategy. Read about the previous summit, COP29.
Check out all the UK news.
