Republished with full copyright permissions from The Boston News Tribune.

Environmental risks stand as a pressing concern in the global policy agenda. The World Economic Forum’s Global Risks Report for 2024 highlights the imminent challenges posed by extreme weather events, critical changes to Earth systems, biodiversity loss, ecosystem collapse, and resource shortages. Despite the urgency, the inertia in fulfilling commitments under the Kunming-Montreal Global Biodiversity Framework, Paris Agreement, and UN Sustainable Development Goals (SDGs) raises concerns about the trajectory of global environmental efforts.

The report’s findings underscore the critical interlinkages between climate change and biodiversity loss, echoing the sentiments of the Director General of WWF International, Kirsten Schuijt. The urgency to address these challenges calls for immediate and collective action, as emphasized by Ester Asin, Director of the WWF European Policy Office.

Moreover, the European Union’s (EU) potential failure to meet its 2030 environmental policy targets, as revealed by the EU Environment Agency, adds to the gravity of the situation. The necessity to redesign the economy to reduce reliance on fossil fuels and leverage healthy ecosystems as key allies is a clarion call for political parties ahead of the EU elections.

However, amidst this, a pivotal opportunity lies in the potential for collaboration between governments and businesses. By adhering to frameworks such as the Science Based Targets Initiative and utilizing tools like the WWF Risk Filter Suite, businesses can mitigate their environmental impact and contribute to the collective effort to address nature-related risks.

The urgency to address climate and nature emergencies fundamentally requires progress to match the promise of policy agreements. The slow pace in delivering revised national biodiversity strategies and the projected trajectory of greenhouse gas emissions demand a reevaluation of commitment levels. Furthermore, the alignment of national climate plans and biodiversity strategies, as proposed by WWF’s Breaking Silos report, can bolster the integrated approach essential for addressing the climate and nature crises.

The focus on environmental risks in the WEF Global Risks Report calls for robust and immediate action to safeguard our planet’s future. It necessitates a pivotal shift in our economic and political landscapes to meet the commitments laid out in global environmental agreements. Only through concerted, collaborative, and decisive action can we truly address the environmental risks and secure a sustainable future for all.