UNEP FI is inviting financial institutions to sign an ambitious new statement calling on world leaders to agree a global economic plan for halting and reversing nature loss, ahead of the UN Biodiversity Conference (COP15) in early December.
The statement is open for signatures until 25 November.
Against the backdrop of a volatile world, humanity is facing a triple planetary crisis of climate change, biodiversity loss and pollution, impacting millions of people today, especially the most vulnerable, and future generations. Coordinated action is needed.
We cannot reach net-zero without halting and reversing nature loss, and we cannot tackle biodiversity loss without tackling climate change. We, the financial community, have a role to play in this complex ecosystem. And increasingly, the financial sector is stepping up to the biodiversity challenge.
But voluntary action is not enough. We take inspiration from the Paris Climate Agreement where Article 2.1(c) set a clear mandate for countries to require the financial sector to align its activities with climate goals. COP15 provides a unique chance to get a similar policy mandate in respect of the financial sector and biodiversity.
The PRI, together with the UNEP Finance Initiative (UNEP FI) and the Finance for Biodiversity Foundation, has drafted this statement to call for an ambitious Global Biodiversity Framework (GBF) at COP15.
Governments must provide an agreement that creates the clarity and action to align all economic actors, including finance, to halt and reverse nature loss, and contribute to Nature-based Solutions to climate change, a fair and just transition, and other sustainable development challenges.