CHM - ORTAll businesses are dependent in some way on biodiversity, but this dependency is rarely recognized and acknowledged. By assessing and monitoring their impacts on biodiversity, businesses can better understand their relationship with biodiversity and assess the impacts of their activities and the risks posed to biodiversity and its loss to their operations. An assessment of these relationships, impacts, and risks makes it easier to take concrete steps to address them. Governments have an important role to play in this process, as they can put in place the legal, administrative, or policy measures to facilitate biodiversity-impact assessments in a consistent and equitable manner. Target 15 can contribute towards achieving SDGs 6, 9, 11, 14, 15, and 17 and GFG 5.
There are not many large international businesses operating in Timor-Leste, however local companies dealing in oil and gas, waste management, consumer services, food distribution, and tourism could become partners under this target.
Responsible Ministry(ies): MTE, Ministry of Trade and Industry
Actions:
1. Select 5 businesses and negotiate terms of an agreement for reporting on risk to and possible impacts on biodiversity and the suitable indicators that will be required. (first 3 years)
2. Work with the 5 pilot companies to develop mitigation planning to reduce impacts on biodiversity. (final 4 years)
| Global Targets | Degree of Alignment |
GBF-T15. Businesses assess and disclose biodiversity dependencies, impacts and risks, and reduce negative impacts GBF-T15. Businesses assess and disclose biodiversity dependencies, impacts and risks, and reduce negative impactsTake legal, administrative or policy measures to encourage and enable business, and in particular to ensure that large and transnational companies and financial institutions:
(a) Regularly monitor, assess, and transparently disclose their risks, dependencies and impacts on biodiversity, including with requirements for all large as well as transnational companies and financial institutions along their operations, supply and value chains and portfolios;
(b) Provide information needed to consumers to promote sustainable consumption patterns;
(c) Report on compliance with access and benefit-sharing regulations and measures, as applicable;
in order to progressively reduce negative impacts on biodiversity, increase positive impacts, reduce biodiversity-related risks to business and financial institutions, and promote actions to ensure sustainable patterns of production. | High |