As part of the process to update Uruguay’s National Biodiversity Strategy, the Ministry of Environment organized a dialogue entitled “Biodiversity and the business sector: Opportunities and challenges for implementing Target 15.” Held on 5 June at Antel Arena, the event brought together representatives from the public and private sectors and international cooperation organizations to strengthen the role of businesses in protecting biodiversity.
Target 15 is part of the Kunming–Montreal Global Biodiversity Framework, adopted by Uruguay and more than 190 countries. It calls on businesses to assess and disclose their impacts and dependencies on biodiversity and ecosystem services. Implementing this target nationally requires effective mechanisms that connect business strategies with conservation goals and promote sustainable production and consumption.
During the event, Magdalena Borges, UNDP BIOFIN Project Lead in Uruguay, presented tools and approaches designed to help align business decisions with the country’s international commitments. She emphasized the importance of integrating biodiversity considerations into business models to reduce risks, identify opportunities and contribute to sustainable development.
The panel also included representatives from the National Research and Innovation Agency (ANII), Sistema B Uruguay and UN Global Compact Uruguay. They shared experiences and perspectives on incorporating the value of nature into business policies, innovation strategies and corporate governance frameworks.
Discussions with participants identified practical opportunities and challenges for implementing Target 15. Key priorities included developing indicators adapted to the national context, strengthening businesses’ technical capacities and improving collaboration among the public and private sectors and civil society.
The dialogue highlighted the importance of connecting environmental conservation with the productive sector and supporting a transition towards economic models that recognize the value of biodiversity and integrate it into their operations and strategic decisions.