Posted on October, 28 2024

• WWF proposes a transformative five-point ‘nature-positive agenda’ for public and commercial banks to deepen their collaboration on nature
• Banks can act as catalysts to enable, support, and accelerate the implementation of the Kunming-Montreal Global Biodiversity Framework
• WWF urges banks to move from nature-related commitments to action.

 
Released on Finance and Biodiversity Day at the UN biodiversity talks at COP16 in Cali, WWF's new report, 'Banking on Nature Positive', offers a five-point plan for how public development and commercial banks can work together to take a 'whole-of-banking' approach and accelerate the shift to a global nature-positive economy. 

The agenda encompasses:
 

1. defining what it means to be Nature-Positive
2. enhancing transparency through robust data sharing
3. fostering innovative financial solutions
4. mobilising collective action
5. building the internal capacity necessary for meaningful change. 

Aaron Vermeulen, Global Finance Practice Leader, WWF International said: “One thing is certain: the nature loss challenges we face are daunting and the tasks ahead are massive. Neither public nor private banks can address them alone, but every single organisation can contribute.”

Jochen Krimphoff, global lead data, tools and methods of WWF’s Greening Financial Regulation Initiative, WWF Germany, said:  “Both public development banks and commercial banks need to do more to halt Nature loss: Together, banks can not only mitigate the risks associated with nature loss but also seize the opportunity to revitalise our economic systems in harmony with Nature."

Finance is a powerful lever for change. The top 100 international banks and the largest public development banks control almost $150 trillion in assets – more than the world’s annual GDP. Together, the banking sector can help drive the nature-positive transition by providing the necessary funds for governments, corporates and project developers to build a nature-positive economy.

The report is available here.

 

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.

LIVESTREAM on YouTube here.