I am thrilled to share my thoughts with such an inspiring community of leaders dedicated to driving meaningful change.

For those who may not know me, I am Juan Mora, CEO of Bancolombia. I have been with Bancolombia for over 30 years, serving in various positions throughout my career. In January 2023, I was honored to join The B Team as the first Colombian leader to do so.

Our work with The B Team is a constant source of inspiration and hope for me. We are united in our commitment to fostering a more just future through bold choices that benefit people and the planet.

As a leader to 30,000 employees, a husband and a father of two young women whom I deeply admire (and were my initial inspiration for engaging with sustainability issues), I believe that being a responsible business is essential to long-term success.

From Bancolombia’s earliest days almost 150 years ago, our purpose has remained clear and constant: to promote sustainable development to achieve everyone’s well-being. Today, I would like to connect my beliefs with our recent experience at the 2024 UN Biodiversity Conference (CBD COP16), where Colombia took the global stage to showcase its immense natural wealth. My home country has a profound opportunity to build and lead a sustainable, biodiversity-based economy.

This event was about far more than conservation; it was an opportunity to redefine the role of our ecosystems in generating economic value while preserving natural resources for future generations. From tropical rainforests to marine ecosystems, Colombia is a treasure trove of biodiversity — an invaluable asset for humanity. Spotlighting this richness, we showed the world that biodiversity is not only a symbol of beauty but also a strategic asset, capable of powering an economic model rooted in sustainability and inclusivity.

One of the most impactful takeaways from COP16 was the need to inspire a shared responsibility for biodiversity among all sectors of society. Protecting our ecosystems cannot fall solely on environmentalists; it demands active participation from governments, financial institutions, NGOs and communities. By working together, we can move conservation beyond isolated efforts and establish it as a fundamental pillar of national and regional development. To this end, our economy must recognize the value of biodiversity, integrating it across sectors from agriculture to renewable energy and ensuring that natural resources fuel growth without compromising ecological integrity. I agree wholeheartedly with my fellow B Team Leader André Hoffmann when he says that businesses can “aim to regenerate nature and build social, human and environmental capital alongside their financial capital.”

COP16 also brought into sharp focus the urgency of these issues, sparking reflection across sectors on the critical role of biodiversity in shaping a sustainable future. The international gathering allowed us to appreciate the gravity of the challenge, coupled with a clarity that might not have been possible without such an event. The result is a collective sense of responsibility and renewed purpose, making COP16 a true catalyst for change. Now, after returning from the summit with many issues still to resolve, our priority must be to maintain momentum and turn commitments into tangible action.

The key to realizing this vision lies in transitioning to an economic model that fully integrates environmental priorities, creating the incentives needed to sustain and enhance our ecosystems. This involves reshaping financial and regulatory frameworks to drive sustainable investments that support biodiversity conservation. Mechanisms like high-integrity and transparent carbon markets and biodiversity credits are powerful tools with which to mobilize the capital necessary to protect our natural heritage while fostering economic innovation. Indeed, in Cali, I was inspired to listen and learn from pioneering projects and efforts already in practice. COP16 was not just about promises — it was a call to action, reminding us that the most profitable investment of our time is in protecting the planet that sustains us all.

Our next steps are crucial. CBD COP16 has given us a powerful starting point, but real success will come through effective action, which needs to continue this week in Baku at the UN Climate Change Conference (COP29). As Jesper Brodin, chair of The B Team, often says, “Words can inspire. But in the end, action is what matters.”

By embedding biodiversity into economic planning, implementing new financing mechanisms and fostering cross-sector partnerships, we can translate what we have learned into lasting outcomes. Only by acting on these insights can we ensure a sustainable, inclusive future that honors our commitments to both people and the planet.

"The Catalyst" is The B Team’s monthly newsletter which showcases ways in which leaders are advocating a better way of doing business. Subscribe to receive updates.