Business to the rescue: private sector actors and global environmental regimes’ legitimacy

In 2006, Parties to the Convention on Biological Diversity (CBD) adopted decision VIII/17 to further involve the private sector in the activities of the Convention. This initiative mainly aims at improving the current regime’s legitimacy. By increasing business involvement, decision VIII/17 can be viewed within the context of the current academic debate on the ‘privatisation’ of environmental governance, which refers to the growing importance of private actors in the formulation of environmental policies. Against this background, this article aims at: (1) assessing the extent to which decision VIII/17 might reverse the CBD’s legitimacy crisis and (2) analysing the issues at stake when private sector actors are involved in environmental regimes. In order to do so, the article analyses the consequences of decision VIII/17 in terms of internal—representation and transparency—and external—institutional efficiency and implementation—legitimacy. The study is based on an extended empirical scrutiny of the negotiations linked to decision VIII/17. While adopting a general conceptualisation of legitimacy, the value added by the study is to broaden the usual understanding of business strategies towards environmental issues. In particular, this article shows how decision VIII/17 has generated several reactions— defensive as well as proactive—among the business community. At the practical level, the article proposes several recommendations to secure a constructive participation of all categories of business actors in biodiversity governance. At the theoretical level, it calls for a change in deterministic visions of economic actors’ interests