Bennett Oghifo
Stakeholders in Nigeria’s conservation and sustainability house have underscored the essential position of the non-public sector in halting biodiversity loss, stressing that defending nature is now not a “feel-good” obligation however an financial and enterprise crucial.
This place was highlighted at a stakeholder engagement convened by the Nigerian Conservation Basis (NCF) in collaboration with Pure Eco Capital and Enterprise for Nature, as a part of efforts to cultivate and implement the Kunming–Montreal International Biodiversity Framework adopted by 196 international locations below the United Nations Conference on Organic Range in 2022.
Talking on the occasion, Director-Common of the Nigerian Conservation Basis, Dr. Joseph Onoja, mentioned the worldwide framework requires every nation to develop nationwide devices to safeguard biodiversity, often known as the Nationwide Biodiversity Methods and Motion Plans (NBSAPs). Nigeria, he famous, has up to date and validated its personal plan, however efficient implementation calls for a “whole-of-society and whole-of-government” method.
In accordance with Onoja, companies are each contributors to biodiversity loss and a essential a part of the answer. “This gathering is to take a look at how the enterprise sector can be concerned in biodiversity safety. We’re dropping biodiversity, and companies rely on nature for uncooked supplies and ecosystem providers. For sustainability and profitability, operations should turn into nature-positive,” he mentioned.
He confused that past coverage discussions, the main focus have to be on implementation. “Insurance policies are straightforward to debate, however implementation is a unique ball sport. If biodiversity shouldn’t be protected, companies are additionally in danger. That actuality alone ought to incentivise the non-public sector to behave,” he added.
On his half, Chief Government Officer of Pure Eco Capital, Eugene Itua, defined that the International Biodiversity Framework explicitly calls on companies, particularly giant corporates, to evaluate, disclose and report their impacts and dependencies on nature. He mentioned Nigeria’s up to date NBSAP gives the roadmap for enterprise engagement.
To help this, Itua disclosed that Pure Eco Capital, working with NCF and supported by Enterprise for Nature, has established a Enterprise Advisory Group for Biodiversity to assist firms align their operations with nationwide and international biodiversity targets. He added that the initiative enhances the Federal Authorities’s Biodiversity Finance Initiative lately launched in Abuja.
“There isn’t any enterprise on a lifeless planet. All companies rely on nature and likewise create impacts on it. We want an ecosystem that helps multinationals, transnationals and SMEs throughout the worth chain,” Itua mentioned, noting that cumulative impacts from small and medium enterprises are additionally vital.
Additionally talking, Africa Lead for Enterprise for Nature, Oluwasoto Ajayi, described the engagement as a vital step towards implementation of the worldwide framework. She mentioned Enterprise for Nature, a worldwide coalition with over 100 companions, has been advocating for robust recognition of enterprise roles in biodiversity safety.
Ajayi mentioned Nigeria presents a powerful alternative to develop constructive case research on how companies can contribute meaningfully to nationwide biodiversity motion plans. “Many firms are lively on local weather and sustainability, however biodiversity remains to be rising as a significant ESG challenge. At this time, they’re studying about biodiversity, rules and the insurance policies wanted to scale motion,” she mentioned, including that the engagement would culminate in a complete enterprise motion plan.
The occasion additionally featured a keynote handle by Dr. John E. Onyekuru, who emphasised that biodiversity underpins life, livelihoods, tradition and financial improvement in Nigeria. He famous that biodiversity gives important uncooked supplies resembling timber, non-timber forest merchandise, medicinal vegetation and ecosystem providers that help agriculture, well being and business.
Onyekuru highlighted Nigeria’s wealthy ecosystems, which help rural livelihoods, poverty alleviation and conventional occupations starting from wooden carving and canoe constructing to bee farming, fish processing and natural drugs. He additionally drew consideration to the untapped potential of ecotourism, wetlands and guarded areas, in addition to the deep connection between biodiversity and Nigeria’s cultural heritage.
In accordance with him, the interplay between tradition and biodiversity has earned Nigeria worldwide recognition, together with the itemizing of the Osun-Osogbo Grove as a UNESCO World Heritage Website.
Contributors agreed that safeguarding biodiversity is central to financial resilience, enterprise sustainability and nationwide improvement, stressing that coordinated motion by authorities, companies and civil society is crucial to translating insurance policies into measurable outcomes.
