Connecting biodiversity and small business
The International Trade Centre (ITC) joined the UN Biodiversity talks to bring in discussions on the role of trade and small businesses. Especially in countries rich with animal and plant life, sustainable business models can offer a path to better incomes and opportunities.
Small businesses are crucial in implementing socio-bioeconomy models, acting as a bridge between local livelihoods and value chain actors, through sustainable management and production strategies that balance biodiversity conservation with socio-economic growth.
Indigenous Peoples, local communities, and smallholders play a pivotal role in these models, often organized as cooperatives or associations that connect local biodiversity-based products and services to global markets. Yet, significant challenges remain, including accessing resources, financing, and technical support to fully participate in biodiversity-friendly trade.
At the UN Biodiversity Conference of the Parties (COP16), ITC highlighted the importance of advancing socio-bioeconomy models and addressing the barriers that limit small businesses’ meaningful participation, aiming to unlock their inclusive potential. As an observer organization, ITC showcased successful examples of how, with the right training and support, small businesses can thrive while protecting biodiversity.
Inaugural thematic day on trade
For the first time, the talks featured a ‘Trade Day’ to foster discussions on trade strategies, best practices, and policy solutions to combat biodiversity loss and support the international goals in the Kunming-Montreal Global Biodiversity Framework.
The Trade Day highlighted the critical intersections between trade, biodiversity, and sustainable development. The sessions were organized by UN Trade and Development, the World Trade Organization, the Convention on Biological Diversity Secretariat, and the United Nations Environment Programme, and supported by thematic partners such as ITC.
In contribution to the Trade Day, ITC hosted a panel on the role of trade and small business in advancing the socio-bioeconomy. The panel included representatives of the Brazilian Micro and Small Business Support Service (Sebrae); Fundación PAÍS 21, a Colombian non-governmental organization; and the Third World Network, a think tank.
Other key messages discussed in the panel point to the need of:
- Empowering local communities: Socio-bioeconomy models must empower local communities by integrating Indigenous knowledge into sustainable forest management and value-added activities.
- No single solution: Addressing the complexities of socio-bioeconomies requires diverse, locally adapted strategies.
- Community-level financial impact: Direct financial support to families and communities is essential to fostering local development and sustained engagement in conservation efforts.
- Youth engagement: Create education and career opportunities for youth in biodiversity initiatives.
- Long-term support: Long-term investment builds resilience in local communities to thrive within the socio-bioeconomy.
One of the main decisions from the COP16 talks was to set up a fund that allows local communities to share in the profits from digital information based on biodiversity resources they help protect.
The meeting also established a new permanent body for Indigenous Peoples to give input at future biodiversity talks. But most countries did not submit new biodiversity plans, and the talks failed to agree on new funding mechanisms.
