Foreword 3

Acknowledgements 4

Abbreviations and acronyms 8

Executive summary 10

The case for scaling up private action 10

Entry point 1: Strengthening enabling environments 10

Entry point 2: Promoting private sector engagement 11

Entry point 3: Mobilising private finance 11

Implications for development co-operation 11

1 The case for private action for biodiversity 12

The global biodiversity roadmap and the role of private action 13

Market failures and investment barriers constrain private action 13

The way forward: Entry points for development co-operation 15

References 18

Notes 20

2 Enabling environments 21

Strong enabling environments are important for private action and biodiversity 22

Three key levers shape an enabling environment that supports private action on biodiversity 22

Enabling environments are fundamental for internalising the economic value of biodiversity and unlocking private action and financing for biodiversity 35

References 36

Notes 43

3 Private sector engagement 45

Private momentum for biodiversity is ramping up, but alignment remains limited 46

Private sector engagement modalities 47

Key areas for promoting private sector engagement for biodiversity 48

Exploring opportunities for private sector engagement in the context of development and biodiversity 57

References 57

Notes 64

4 Mobilising private finance for biodiversity in developing countries 65

Three pathways exist for mobilising private finance for biodiversity 66

Pathway 1: Direct investing in biodiversity-related assets or activities 66

Pathway 2: Integrating biodiversity into non-biodiversity-related sustainable finance 74

Pathway 3: Integrating biodiversity in existing market mechanisms 80

Exploring opportunities to mobilise private finance for biodiversity 81

References 82

Notes 88

Annex A. General investment barriers for biodiversity 90

References 91

Annex B. Findings from consultations on the state of development co-operation to support the private sector and nature 95

References 108

Notes 112

Annex C. Examples of private sector engagement in the context of development and biodiversity 114

References 116

Notes 118