Finance for Biodiversity Calls for Finance Sector Alignment with GBF

The Finance for Biodiversity Foundation’s Public Policy Advocacy Working Group has launched a second position paper on the implications for the finance sector of the Global Biodiversity Framework (GBF) in Nairobi later this month. The paper outlines how ensuring the alignment of financial flows with the goals of the GBF can be incorporated into the final wording of the framework and implemented by policymakers. The Finance for Biodiversity Foundation will be represented in Nairobi by Aviva’s Head of EU and international Policy, Suresh Weerasinghe, and Storebrand Asset Management’s Head of Climate and Environment, Emine Isciel. The meeting was scheduled to ensure governments are prepared ahead of the UN Convention on Biological Diversity (CBD) COP15 in Q3 2022, which will approve the finalised GBFWeerasinghe said: Reducing biodiversity loss requires the financial sector to play a significant role in ensuring that all financial flows are aligned with biodiversity goals and values. To achieve this, the GBF must be explicit that this is one of its policy aims, to be implemented by the Parties in accordance with clear enabling provisions. We will be strongly advocating for the inclusion of [our recommendations] in the GBF.” The Finance for Biodiversity Foundation is a group of 49 firms, including HSBC, Storebrand Asset Management and Aviva, collaborating to reverse nature loss.

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