In light of countries’ efforts to handle the Covid-19 crisis and overcome its economic impacts, “there is more than ever a need for businesses to reconsider their relationship with nature and people”.
The theme this year is “Green economic recovery – reshaping business for nature and people”.
The European Business and Nature Summit is a place to “showcase businesses that understand the critical value of nature and take action to develop and adapt business models that contribute to rebuilding ecosystem health”.
Speaking about the event, Commissioner for Environment, Oceans and Fisheries Virginijus Sinkevičius said:
“Over half of the world’s economy depends on nature and yet, for too long, we have removed nature from the business equation.
With the European Green Deal, it’s time for a different approach – to better measure the business impacts and dependencies on nature and bring the concern for nature in company boardrooms.
“Today’s conference will help us grasp the scale of the efforts needed and further intensify our actions for the establishment of an international natural capital accounting initiative.”
‘Sustainability may become the strongest currency’
Commissioner for Financial Services, Financial Stability and Capital Markets Union Mairéad McGuinness said that “nature is capital and sustainability may become the strongest currency of the future”.
Our commitment to deliver on the Green Deal requires mobilising at least half a trillion euros per year of additional investments in the EU.
Gathering large, small and medium-sized companies, business front-runners, financial institutions and other stakeholders, the summit is a forum to promote ways for businesses to integrate natural capital and biodiversity into corporate decision-making and contribute to ecosystem recovery. It is being held virtually.
European Commission extends state aid rules for agriculture
In other news, the European Commission has prolonged the validity of several EU state aid rules applicable in the agricultural, forestry and fisheries sectors, for a further two years.
The rules would otherwise expire at the end of 2020.
This includes an extension, until December 31, 2022, of the EU guidelines for state aid in the agricultural and forestry sectors and in rural areas; the Block Exemption Regulations applicable to state aid in the areas of agriculture, forestry, fishery and aquaculture; as well as the regulation on ‘de minimis aid’ for fishery and aquaculture.