Recognising the critical role of the financial sector in reversing biodiversity loss, DPAM became a signatory of the Finance for Biodiversity Pledge in December 2020.

Every year, a diverse group of stakeholders—government officials, business leaders, civil society representatives, trade unionists, academics, and media personnel—convenes to dissect the evolving link between commerce and human rights. This gathering, organised by the Office of the UN High Commissioner for Human Rights and guided by the UN Working Group on Business and Human Rights, serves as a platform to exchange ideas. It is also the opportunity to evaluate the progress made in fostering corporate respect for human rights.

The topics discussed reveal an increasingly urgent need for alignment between global frameworks and corporate practice. What follows is a summary of the key issues dominating this year’s agenda.

In short, there was limited progress on updated targets and no major commitments from the outgoing US administration, and also China remained silent. Progress was however made on the Carbon Market mechanism, with Article 6 finalised, allowing trade among broader market actors. Finally financing pledges only marginally improved, reaching USD 300 billion by 2035, far from the USD 1.3 trillion requested (and needed).