Nature had a front seat at the table at COP28 earlier this month. During the 2023 UN Climate Change Conference in Dubai, multiple stakeholders aligned on one critical assumption—any pathway to net zero must include protecting and restoring nature at scale. Indeed, nature underpins our lives and livelihoods, and markets, companies, nongovernmental organizations (NGOs), and scientists are signaling that it is time to get our nature house in order.

One step toward that goal, Target 15 of the Kunming-Montreal Global Biodiversity Framework, provides guidance for companies and financial institutions to act on nature. Additionally, institutional investors, banks, asset managers, and corporations are determining how to incorporate nature into their strategies with the help of the Taskforce on Nature-related Financial Disclosures (TNFD) framework. Actions taken in the near term will help determine how to manage nature-related risks and opportunities.

During COP28, McKinsey Sustainability hosted several discussions on building and financing a nature-positive economy. The following key themes emerged from these discussions:

The level of shared engagement and commitment to nature from the private and social sectors has surpassed many expectations. The corporate and financial sectors too could play a major role in restoring and protecting the world’s natural capital.

For more insights on nature from COP28, read our blog.