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Finance at COP16
At COP16, WWF is launching a series of papers and initiatives that together offer governments, companies, and financial institutions comprehensive guidance on how to adopt an integrated approach to accelerating the transition to a global nature-positive economy.
The Kunming-Montreal Global Biodiversity Framework (GBF) offers a global blueprint for living in harmony with nature but we need to boost finance for its implementation, scale investment in nature, and integrate nature and climate into corporate and financial decision-making, as well as regulation.
To sustain our economies, we need to invest $700 billion/yr in nature, including $340 billion/yr in nature-based solutions. That’s less than 1% of total global GDP, and much less than the $7 trillion a year that pour into harmful activities that fuel the nature and climate crises. Redirecting this money would ensure a thriving planet for generations to come.
Commenting at WWF’s Finance & Biodiversity Day press conference, WWF Global Finance Practice Leader, Aaron Vermeulen, said:
“If we want to move towards a nature-positive economy, we need US$700 billion extra investments into nature-positive action. And that’s just a fraction of the investments that are currently incentivising the degradation of nature. Today, WWF launched its Banking on Nature Positive report, calling on development and commercial banks to work together and develop green financial solutions that work with, and not against nature.
“WWF is also calling on the Global Systemically Important Banks to start integrating nature-related risks in their operations. These are the banks that created the financial crisis in 2008, and our latest research shows that if they continue to ignore nature, it could lead us towards a second financial crisis. It’s clear the financial sector is not moving fast enough, and they need to step up their game, and fast.
“Today, the EU announced a €105m guarantee to the Dutch Fund for Climate and Development, that will unlock €240m more for climate adaptation and nature – this is the kind of progressive blended finance approach we need to see more of.”
© UN
WWF COP16 Finance & Biodiversity Day OPINION
How private investment can drive a greener, prosperous future
ES version in Forbes Colombia
EN version on LinkedIn
Global Nature-Positive Economy Roadmap
A systemic, whole economy reform agenda for policymakers
Taking a whole-economy approach, this report sets out a groundbreaking, collaborative agenda for systems level rules-of-the-game reforms needed to drive the shift to a nature-positive global economy. Modelled on the G20 sustainable finance roadmap, proposals cover nature-positive transition pathways, data and reporting, public and private capital, international trade, and governance of the global commons.
Related side event at COP16: Global roadmap for a nature-positive economy: An economic and financial reform agenda to meet climate and nature goals, Nature Positive Pavilion, Blue Zone, 13.00-14.00 COT, October 24th.
Nature-Positive Sectoral Pathways
Transition guidance for the private sector
A key component in the Global Nature-Positive Economy Roadmap is national nature-positive sectoral transition pathways that integrate with established net zero transition pathways. These would show how government policy and private sector action can change key sectors that align with targets 14 and 15 of the GBF. WWF and the Green Finance Institute will launch a new initiative to develop national sectoral pathways for the UK and explain how pathways will guide private sector transition to a nature-positive global economy.
Related side event at COP16: Nature-Positive Sectoral Pathways: Aligning Business Action with NBSAPs, Nature Positive Pavilion, Blue Zone, 17:00 COT, October 24th, 2024
Integrating Nature in Regulations for Global Systemically Important Banks
A regulatory agenda for central banks and financial supervisors
Despite efforts to enhance climate-related financial reporting and risk management by international bodies like the Financial Stability Board (FSB) and the Basel Committee on Banking Supervision (BCBS), the risks to financial stability from ecosystem degradation and biodiversity loss remain inadequately addressed in financial regulations.Drawing on WWF's SUSREG assessment, CDP's financial disclosures, and the Basel G-SIB framework, a new briefing from WWF and CDP, ‘Addressing The Giants’, calls for a systemic approach to incorporating nature-related financial risks in regulatory frameworks governing Global Systemically Important Banks (G-SIBs).
Related in-person and livestream side-event at COP16: Addressing the Giants: integrating nature in regulations for systemically important banks, EU Pavilion, Blue Zone, 8:30 COT, October 27th, 2024. Registration here.
Banking on Nature-Positive
Exploring how public development and commercial banks can contribute to a nature-positive agenda
Together, the top 100 international banks and the largest public development banks control over $150 trillion in assets – more than the world’s annual GDP. And can provide the necessary funds for governments, corporates and project developers to build a nature-positive economy. This new WWF 'Banking on Nature Positive' paper sets out a five-point plan for how public development and commercial banks can collaborate in a ‘whole of banking’ approach to deliver a shared ‘Nature Positive Agenda’.
Related side event at COP16: Banking on Nature Positive – Forward-looking pathways for public and private banks and financial regulators to contribute towards a nature-positive agenda, Nature Positive Pavilion, Blue Zone, 10.30-11.30, October 28th.
DOWNLOAD the new 'Banking on Nature Positive' paper here.
Nature Transition Plans
Exploring how companies can set credible nature transition plans
We will preview a forthcoming report offering a practical approach for companies to transition assets, operations and business models in support of a nature-positive global economy and alignment with the GBF. Building on previous guidance on integrating climate and nature in transition plans, and on credible transition plans for financial institutions, and complementing our new report on corporate nature targets, this will help companies set meaningful, science-based targets for nature in line with the European ESRS guidelines.
Related side event at COP16: The role of nature in transition plans, Small Room, Nature Positive Pavilion, Blue Zone, 15.30-16.30 COT, October 29th. INVITE ONLY
WWF COP16 Resources
WWF OPINION - How private investment can drive a greener, prosperous future
ES version in Forbes Colombia
EN version on LinkedIn