High Impact Initiative: Nature Driving Economic Transformation

This event was convened at the SDG Action Weekend of the SDG Summit at the 78th session of the UN General Assembly on 17 September from 11:45 – 13:15 EDT.

Watch the event recording below.

Nature Driving Economic Transformation: Leveraging the power of biodiversity and nature to drive equitable economic progress was one of twelve high impact initiatives, led by UN-system entities, that showcased select programmatic offerings and initiatives to support Member States efforts towards just development transitions and Sustainable Development Goal (SDG) achievement.

Nature has the power to drive economic transformation, as reflected in the Kunming-Montreal Global Biodiversity Framework adopted by 193 parties in 2022. Based on principles of sustainable use, equity and access and benefit sharing that leave no one behind, delivery of this Framework can catalyze more action in support of key SDGs.

This initiative focused on assisting countries to fundamentally shift economic policymaking in favor of sustainability, resilience, and equity. A group of champion countries committed to the sustainable use of biodiversity was launched and will demonstrate viable pathways for change for a diverse set of contexts.

Three key pillars made up this High Impact Initiative.

1. Advocacy, using experience, science and evidence, is needed to leverage the full value and potential of nature to drive economic and social transformation.

2. Environmental-economic accounting frameworks that measure and value nature’s contribution to our economies need scalable rollout in national economic development plans – we cannot manage what we do not measure. Effective risk-informed approaches that are grounded in equitable, socially just and inclusive governance will be amplified.

3. Concrete action must be taken based on these measurements, specifically across financing, institutional reform and country leadership. Significant new investment, from a range of sources, is needed in countries that have demonstrated commitment through their policy and enabling environment. This High Impact Initiative leveraged UN reform and associated commitments from the entire UN system to deliver the UN Common Approach to Biodiversity and Nature-based Solutions to support country leadership in making their economic transition.

Further information

1. More on the Nature Driving Economic Transformation High Impact Initiative

2. 78th session of the UN General Assembly

3. UNEP's work on Nature Action