09/23/2021: As reported by the
Tagesspiegel Background Sustainable Finance, the financial institutions name the challenges related to biodiversity in
their letter. Ahead of the
Global Conference on Biodiversity (Cop15), it says, "Biodiversity loss will have significant and systemic consequences for the global economy and exposes us to market, credit, liquidity and operational risks." But the financial institutions also identify the opportunities: "Rebalancing our economies, including public and private financial flows, toward nature-positive pathways is imperative, and could yield some tens of trillions of dollars in business opportunities and 395 million jobs by 2030."
The signatories call for a Global Biodiversity Framework (GBF) – a framework to halt and reverse nature loss by 2030 and restore ecosystems by 2050. The GBF should include clear pathways with high and enforceable targets, and call on financial institutions and corporations to link their capital flows to global biodiversity goals. But binding force is also required at the national level: governments should raise biodiversity targets, strengthen and enforce action plans, and end all nature-damaging subsidies to promote activities that spur economic transformation instead.
Source: Tagesspiegel Background Sustainable Finance, 09/23/2021