LONDON, Feb. 9 -- The government of the United Kingdom issued the following news:

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NatureMinister hails it as pivotalmomenton road to this year'sBiodiversityCOP

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A gathering ofscientists,businessesand governmentsfrommore than 150countriesinManchester has concludedwith the approval of a new Business and Biodiversity Assessment to guidetheactionsbusinesses can taketo save nature.

Businesses depend on and impact biodiversity and nature's contributions to people, across value chainsbut they need to develop their resilienceagainst the decline ofnature.

This 3-year scientific assessment, involving 80 expert authors from every region of the world, agreed today, will become the accepted state of science on the impacts and dependencies of business on biodiversity and nature's contributions to people, providing all decision-makers with evidence and options for action to measure and better manage business relationships with nature.

Better understanding - and better measurement - helps companies understand their role and responsibility to act, while alsoidentifyingrisks and opportunities, setting targets,monitoringperformance, and supporting transparency and accountability of their nature-related commitments.

Nature Minister Mary Creagh said:

"Nature is the lifeblood of our economy, and the nature crisisrepresentsa profound threat to our way of life, which is why the UK is committed to leading the way and was pleased to host this summit.

"This crucial new assessment, agreed by 150 countries, will provide a vital framework for global businesses to help them better understand the risks they face from nature degradationand the action they can take."

The government will continue to supportthe private sector totake actionon nature. Following the announcement of a pioneering Overarching Principles Standard for nature markets last year, the government will continue to work with the British Standards Institution on further nature investment standards. This will help to boost investor confidence in nature markets, enabling them to do more for biodiversity.

We will also continue to look at how we can support businesses to understand and address their impact on nature through their supply chains, including through the UK-supported Taskforce on Nature-Related Financial Disclosures.

Disclaimer: Curated by HT Syndication.