Delegation of 26 financial institutions representing the Finance for Biodiversity Foundation will join COP15 in Canada
Aviva, Federated Hermes Limited, Manulife and Storebrand Asset Management among the 26 financial institutions that will be representing the Finance for Biodiversity Foundation delegation at the fifteenth meeting of the Conference of the Parties to the Convention on Biological Diversity (CBD COP15) from 7 to 19 December in Montreal, Canada. The group of financial institutions will call on global leaders to agree on an ambitious outcome and effective measures to reverse nature loss in this decade to ensure ecosystem resilience. Today the Public Policy Advocacy working group launched the third position paper with suggestions for the goals and targets of the framework.
Within the delegation, there will be representation by CEO Amanda Blanc (Aviva) and CEO Jan Erik Saugestad (Storebrand AM), CEO Carole Laible (Domini Impact Investment), CEO Geneviève Morin (Fondaction) together with senior representatives of Federated Hermes Limited and Manulife.
The financial institution representatives and others will be participating in the sessions of the Business and Biodiversity Forum on 13 December and the Finance & Biodiversity Day as well as a breakfast meeting for CEOs of financial institutions and ministers on 14 December, which the UN CBD secretariat is organizing in partnership with the Finance for Biodiversity Foundation.
Participation in the GBF text negotiations
The Finance for Biodiversity Foundation will also take part in the fifth meeting of the Open-Ended Working Group (OEWG-5) from 3 to 5 December to contribute to the negotiations of the Global Biodiversity Framework (GBF). As an official observer to the CBD, the Finance for Biodiversity Foundation can participate in the negotiation process of the GBF. In the OEWG-5 meeting, the Finance for Biodiversity Foundation will be represented by our Public Policy Advocacy working group co-chair Sonya Likhtman (Federated Hermes Limited).
New position paper
The purpose of the new position paper is to explain the critical role the Global Biodiversity Framework (GBF) needs to play in setting the policy agenda for increasing the engagement of private finance sector action on biodiversity. It focuses on what the financial sector needs to see in the GBF, how incorporating the concept of ‘alignment of financial flows’ in the GBF could be implemented by Parties and, then in turn, for financial institutions, the need for a supportive enabling environment to achieve this.
- Read the position paper ‘Aligning financial flows with biodiversity goals and targets, part 3’ of December 2022
The 26 financial institutions that are part of the Finance for Biodiversity Foundation COP15 delegation are:
Amundi, APG, Aviva plc, AXA IM, Boston Common Asset, Management, Climate Asset Management (HSBC), Desjardins, Domini Impact Investments LLC, Federated Hermes Limited, Fidelity International, Finance in Motion, Fondaction, HSBC GAM, JPG, Karner Blue Capital, La Banque Postale AM, LGIM, Manulife Investment Management, Mirova, NWB Bank, Pictet Asset Management, Rabobank, Rathbones Greenbank Investments, Robeco, Schroders, Storebrand, Triodos IM
Amanda Blanc, Group CEO, Aviva: “Financial institutions will be central to preventing and reversing the loss of our planet’s precious biodiversity. To make sure this happens, we’re calling on everyone at COP15 to seize the opportunity and make sure the Global Biodiversity Framework sets explicit, ambitious standards to give hope for the future of earth’s ecosystems. And then all the Parties need to implement them promptly so that we can see real action result. I look forward to being part of the Finance for Biodiversity Foundation’s delegation to make the case in Montreal.”
Saker Nusseibeh, CBE, CEO, Federated Hermes Limited: “We are pleased to be attending COP15 as part of the Finance for Biodiversity Foundation delegation. COP15 presents a critical opportunity to shape the global response to the nature crisis over the next decade. We support an ambitious and transformative Global Biodiversity Framework being adopted in Montreal, including with a focus on the alignment of public and private financial flows. We remain committed to addressing biodiversity loss through our investment, stewardship and advocacy activities.”
Paul Lorentz, President and CEO of Manulife Investment Management: “Manulife Investment Management is proud to support COP15 and serve as a steward for combating the ongoing deterioration of biodiversity around the globe. As one of the world’s largest institutional asset managers of timberland and agriculture, we acknowledge the tremendous responsibility to operate and manage those assets sustainably to mitigate biodiversity and nature loss, and to make a positive impact on the communities where we operate. Manulife’s global Impact Agenda, and our most recently published Nature Statement, formalize this commitment to positively affect nature and biodiversity through our business and investment activities. We understand our investments intersect with nature in a material way and we continue to strive to adopt sound nature-positive practices.”
Jan Erik Saugestad, CEO, Storebrand Asset Management: “The private financial sector is needed if we are to deliver the urgent action required to halt and reverse biodiversity loss in this decade. Some financial institutions are already taking important steps to address biodiversity loss, but voluntary actions alone will be insufficient to change practices across the financial sector in a way that protects and restores biodiversity at the rate and scale required. It is therefore critical that the Global Biodiversity Framework creates the enabling environment that will support and scale up actions from the financial sector to reverse biodiversity loss in this decade.”