Green group urges EU to create nature restoration funding mechanism in freshwater biodiversity push

Carbon Pulse | Carbon Pulse covered the 2023 UN Water Conference in an article detailing how green groups are urging the EU to create a nature restoration mechanism for freshwater biodiversity. The three-day conference was the first water conference held by the United Nations in almost fifty years. One of the key outcomes from the event is a milestone Water Agenda with over 700 commitments from governments, civil society, and the private sector to accelerate progress towards water-related goals and targets.

These global and national frameworks translate into calls for action for businesses as well, along with initiatives like the Taskforce for Nature-Related Financial Disclosures.

To help prepare for that, the World Business Council for Sustainable Development (WBCSD) and sustainability consultancy Quantis last week launched the Freshwater Accountability Accelerator, a guidance tool for corporations for setting water targets and disclosing water-related information.

“Our global water resources are at risk, and so are businesses that depend and impact on them. The Freshwater Accountability Accelerator will aim to provide companies with a streamlined journey to identify pressing water challenges across their value chains,” Tatiana Fedotova, water global lead at Quantis, said in a press release.

It will also support them with ambitious targets to operate within local planetary boundaries and reporting back on actions that contribute to global water security as much as their own business continuity and resilience.