Virtual Remarks by Secretary of the Treasury Janet L. Yellen at the Convention on Biological Diversity COP16 in Cali, Colombia

As Prepared for Delivery I am glad to have the opportunity to speak with you during COP16. Let me thank Minister Bonilla for the invitation and for Colombia’s many efforts to help deliver on this year’s theme: “Peace with Nature.” As I discussed with Minister Muhamad and other ministers from Amazon Basin countries when I traveled to Belém in July, halting and reversing nature and biodiversity loss—and working towards the goal of conserving 30 percent of lands and waters—is an economic imperative. Healthy ecosystems support economic growth, including by creating and sustaining livelihoods. And they can have significant indirect economic benefits, such as lower health care costs and reduced damage from extreme weather events. Conversely, the current accelerating loss of nature and biodiversity presents significant economic challenges.