This report does not constitute a rating action. SAO PAULO (S&P Global Ratings) Nov. 3, 2026--The recently concluded COP17, held this year in Armenia, revealed a critical implementation challenge: 40% of participating countries still have to develop their national biodiversity strategies and action plans. In a report published today"From Nature Finance To Nature Value: COP17's Implications For Corporates And Sovereigns ,"S&P Global Ratings says it believes sustainable issuance is the primary avenue for debt capital markets to support the objectives of the U.N.'s global Convention on Biological Diversity (CBD), although broader structural impediments remain. Insufficient progress in stopping and reversing nature loss could increase investor and regulatory scrutiny of how corporations and sovereigns identify and integrate nature-related
