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It is nearly three decades since the world recognized the need for a global multilateral treaty aiming to address accelerating biodiversity loss. However, biodiversity continues to decline at a concerning rate. Drawing on lessons from the implementation of the current strategic plan of the Convention on Biological Diversity and the 2010 Aichi Targets, we highlight three interlinked core areas, which require attention and improvement in the development of the post‐2020 Biodiversity Framework under the Convention on Biological Diversity. They are: (1) developing robust theories of change which define agreed, adaptive plans for achieving targets; (2) using models to evaluate assumptions and effectiveness of different plans and targets; and (3) identifying the common but differentiated responsibilities of different actors/states/countries within these plans. We demonstrate how future multilateral agreements must not focus only on what needs to be done but also on how it should be done, using measurable steps, which make sense at the scales at which biodiversity change happens.

The upcoming Convention on Biological Diversity (CBD) meeting, and adoption of the new Global Biodiversity Framework, represent an opportunity to transform humanity's relationship with nature. Restoring nature while meeting human needs requires a bold vision, including mainstreaming biodiversity conservation in society. We present a framework that could support this: the Mitigation and Conservation Hierarchy. This places the Mitigation Hierarchy for mitigating and compensating the biodiversity impacts of developments (1, avoid; 2, minimize; 3, restore; and 4, offset, toward a target such as "no net loss" of biodiversity) within a broader framing encompassing all conservation actions. We illustrate its application by national governments, sub-national levels (specifically the city of London, a fishery, and Indigenous groups), companies, and individuals. The Mitigation and Conservation Hierarchy supports the choice of actions to conserve and restore nature, and evaluation of the effectiveness of those actions, across sectors and scales. It can guide actions toward a sustainable future for people and nature, supporting the CBD's vision.

Biodiversity loss is a critical sustainability issue, and companies are beginning to seek ways to assess their biodiversity performance. Initiatives to date have developed biodiversity indicators for specific business contexts (e.g., spatial scales – from site, to product, to regional, or corporate scales), however many are not widely translatable across different contexts making it challenging for businesses seeking indicators to manage their biodiversity performance. By synthesizing the steps of common conservation and business decision-making systems, we propose a framework to support more comprehensive development of quantitative biodiversity indicators, for a range of business contexts. The framework integrates experience from existing tried-and-tested conservation frameworks. We illustrate how our framework offers a pathway for businesses to assess their biodiversity performance, and demonstrate responsible management by mitigating and reversing their biodiversity impacts and sustaining their dependencies, enabling them to demonstrate their contribution to emerging global biodiversity targets (e.g., Convention on Biological Diversity post-2020 targets).

Efforts to conserve biodiversity comprise a patchwork of international goals, national-level plans, and local interventions that, overall, are failing. We discuss the potential utility of applying the mitigation hierarchy, widely used during economic development activities, to all negative human impacts on biodiversity. Evaluating all biodiversity losses and gains through the mitigation hierarchy could help prioritize consideration of conservation goals and drive the empirical evaluation of conservation investments through the explicit consideration of counterfactual trends and ecosystem dynamics across scales. We explore the challenges in using this framework to achieve global conservation goals, including operationalization and monitoring and compliance, and we discuss solutions and research priorities. The mitigation hierarchy's conceptual power and ability to clarify thinking could provide the step change needed to integrate the multiple elements of conservation goals and interventions in order to achieve successful biodiversity outcomes.