In this context, in 2022, the Kunming-Montreal Global Biodiversity Framework (GBS) has been adopted by the COP-15 and it is considered as the ‘Paris Agreement for Nature’, defining 4 goals and 23 targets to be reached by 2050. According to World Economic Forum, over 50% of the global GDP (approx. $44 trillion) depends directly or indirectly from natural resources, with some industries such as construction and agriculture more affected than others.
Ecology and economy are strictly interconnected, and the effects of loss of nature ultimately generate impacts on the financial system, too. As for the climate change mitigation and adaptation, the insurance sector is called to substantially contribute in achieving the goals of the GBS. As investors, protection providers and risk managers, they play a pivotal role in nature restoration and conservation as well.
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