Key messages:

·       Transformative change is defined as fundamental, system-wide shifts in views, structures and practices in ways that address the underlying causes of biodiversity loss and nature’s decline.

·       Transformative change is urgent to address biodiversity loss, nature’s decline and the projected collapse of key ecosystem functions. Delaying action is costly compared to the benefits of immediate action

·       Transformative change strategies include transforming dominant economic and financial paradigms so that they prioritize nature and social equity over private interests

·       Current financial flows to biodiversity conservation (US$135–156 billion), are only a small fraction (0.25%) of the global GDP that is dependent on nature ($58 trillion)

·       The three key identified underlying causes of nature’s degradation are: 1) disconnection from and domination over nature and people; 2) concentration of power and wealth; and 3) prioritisation of short-term, individual and material gains.

·       Four key principles are responsive to and address the identified underlying causes: 1) equity; 2) justice; 3) pluralism and inclusion; 4) respectful and reciprocal human-nature relationships; 5) adaptive learning and action

·       Transformative changes are hindered by 5 main barriers: 1) relations of domination over nature and people, especially those that emerged in colonial eras 2) economic and political inequalities; 3) inadequate policies and unfit institutions; 4) unsustainable consumption and production patterns; 5) limited access to clean technologies and uncoordinated knowledge and innovation systems.

·       The agricultural and livestock sectors contribute significantly to biodiversity loss. Global public explicit subsidies to agriculture are in the range  of $520-851 billion

·       Sustainable farming transitions, such as agroecology, enhance biodiversity, protect habitats and reduce external inputs. These approaches can also increase agricultural productivity and foster employment, healthier livelihoods, food security and overall well-being.

·       Eliminating, phasing out or reforming subsidies to economic sectors driving nature decline, prioritizing sustainability and equity criteria in their allocation can improve their environmental impact

·       Indigenous and local knowledge play a key role in enabling transformative changes and in challenging structural and systemic underlying causes of biodiversity decline.