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Financial System Must Play Dual Role on Biodiversity

NGFS paper suggests applying a ‘double materiality’ approach to biodiversity loss, identifies knowledge gaps among central banks and regulators.

Not unlike the Hindu god Shiva’s power to destroy and create the world anew, the financial system contributes to the depletion of biodiversity but has the potential to also conserve and promote it. A new paper has urged central banks and prudential supervisors to take a “strategic and structured approach”…

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