The CEOs of major financial institutions – including Storebrand Asset Management, Aviva and Domini Impact investments – have asked finance ministers to align their policies with the forthcoming Global Biodiversity Framework. The letter, sent on behalf of the Finance for Biodiversity Foundation to the Coalition of Finance Ministers for Climate Action, has been sent ahead of December’s COP 15 to “address the importance of and take urgent action towards aligning financial flows with the goals and targets of the Global Biodiversity Framework”. The Finance for Biodiversity Foundation – made up of 103 financial institutions, representing 19 countries and over €14 trillion in assets – is planning individual and collaborative engagements with a selection of finance ministers from the 70 member countries of the Coalition in run-up to COP15. Carole Laible, Domini Impact Investments’ CEO, said: “Systemic solutions must be implemented for global challenges of this magnitude. We are encouraging finance ministers to create the enabling policy environment needed to address the urgent biodiversity crisis, which can help unlock public and private capital at scale.”
Finance ministers must support an ambitious Global Biodiversity Framework including the alignment of financial flows towards #COP15. We need to create an enabling policy environment to reverse nature loss by 2030.
— Finance for Biodiversity Pledge (@FinanceforBio) September 21, 2022