New York, 25 September 2024 — As the world converges in New York for the UN General Assembly and Climate Week, the United Nations Environment Programme Finance Initiative (UNEP FI) and the Finance for Biodiversity Foundation are proud to announce the launch of their latest collaboration, “Finance for Nature Positive: Building a Working Model.”
The working model provides practical guidance on how finance can operationalise the Nature Positive concept, to halt and reverse biodiversity loss by 2030 towards the recovery of nature by 2050. It emphasises driving economic transformation and achieving measurable positive outcomes in areas such as the sustainable use, conservation, and restoration of nature, as well as enabling solutions. It builds on the working definitions for tracking Nature Finance developed by the World Bank Group and seeks alignment with efforts to catalyse business and finance such as the Nature Positive Initiative.
The model highlights key market needs such as improved measurement, data practices and reducing barriers to nature conservation and restoration finance. It is a stepstone towards a comprehensive framework to further guide financial institutions on contributing to the global biodiversity goal across different asset categories in their portfolios.
Advancing the Global Biodiversity Framework
The discussion paper underscores the role of the financial sector in supporting transformative actions required to achieve the GBF’s goals. It highlights the importance of sustainable taxonomies, measurable outcomes, and traceable financial flows, all of which are crucial to meaningful progress toward Global Biodiversity Framework goals and targets.
The effort aims to drive global dialogue around defining and tracking nature-related financial flows, with a special focus on preparing for national-level reporting on the “D3 Indicator” a crucial element of the GBF monitoring framework that will track private finance flows related to nature.
Call for Feedback
Beyond the COP, FfB and UNEP FI will continue working with their members and partners to further develop the concepts in this paper into a framework for Finance for Nature Positive. UNEP FI and FfB encourage the wider financial sector, government representatives, scientists, Indigenous Peoples & Local Communities and other stakeholders to review the paper and provide input through a questionnaire.
The discussion paper was created with the support of the Netherlands Enterprise Agency (RVO) and was coordinated on behalf of the Finance for Biodiversity Foundation and UNEP FI memberships. It was reviewed by representatives from both membership and the wider community. The working model also draws on insights collected through extensive collaboration with over 100 experts from the financial sector, scientists, and key global stakeholders.
For media inquiries or more information:
Eneya Phiri, Communications Lead, Climate and Nature, UNEP FI botoman.phiri@un.org
Daniela Tulip, Communications Director, FfB Daniela.Tulip@financeforbiodiversity.org