Published during London Climate Action Week 2026, the paper Recommendations for Guiding Financial System Transformation presents an overview of the Finance for Biodiversity (FfB) Foundation’s feedback on the draft ‘Global Report of Collective Progress’ (Global Report), developed as part of the Global Review under the Global Biodiversity Framework (GBF). The Global Review is the mechanism established under the Convention on Biological Diversity (CBD) to take stock of collective progress towards the GBF’s goals and targets and to inform enhanced action by countries and stakeholders.
FfB Foundation welcomes the draft ‘Global Report’, developed as part of the Global Review under the Global Biodiversity Framework (GBF). The Global Review is the mechanism established under the Convention on Biological Diversity (CBD) to take stock of collective progress towards the GBF’s goals and targets and to inform enhanced action by countries and stakeholders.
FfB Foundation’s Feedback Paper was developed by the FfB working group on Public Policy Advocacy, drawing on its key recommendations to governments (2024) and on learnings from the FfB Foundation Impact Report (2025). It provides high-level feedback to policymakers on how to strengthen the report with actionable, finance-relevant insights, helping to ensure that the Global Review becomes a decision-relevant process, ahead of COP17 and beyond.
The paper includes:
- An overall assessment of the Global Report findings regarding finance-related goals and targets;
- Reflections on the causes of limited GBF implementation;
- Policy asks for progress from the finance sector perspective, and
- Text suggestions for the Global Report.
Key findings from the draft Global Report
The draft Global Report presents a mixed picture of progress towards the goals and targets of the GBF. While implementation efforts are underway across many areas, current progress remains insufficient to achieve the GBF’s 2030 mission to halt and reverse biodiversity loss.
These implementation gaps are particularly evident in areas that are critical for resource mobilisation and the alignment of financial flows with the GBF. Progress remains uneven across Goal D and Targets 14, 15, 18 and 19, which together provide key enabling conditions for financial system transformation.
The findings align with the longstanding calls from FfB Foundation for an enabling environment supporting the alignment of financial flows as well as for a whole-of-economy approach to drive the transformation of the real economy and financial systems along nature-positive sectoral pathways.
Recommendations for Guiding Financial Systems Transformation
The reflections in the Feedback Paper highlight areas and actions that could strengthen the implementation of the GBF, based on the information available in the Global Report:
- Ensure the Global Review drives accelerated and comprehensive implementation of the GBF;
- Encourage the supervision of nature-related financial risks;
- Improve tracking of corporate and financial sector nature-related disclosure;
- Build the real-economy transition along sectoral pathways;
- Create economic incentives and address implementation barriers for scaling private finance;
- Strengthen the systematic assessment of financial flows alignment.
This Global Review represents a unique opportunity to bridge the gap between policy ambition and financial system transformation and strengthen accountability across governments and financial actors. To realise this potential, the Global Report must go beyond high-level analysis and provide clear, actionable, and finance-relevant priorities that can drive decision-making ahead of COP17 and beyond.