Here you can find the answers to the most frequently asked questions.
What is the Finance for Biodiversity Pledge about?
The Finance for Biodiversity Pledge is a commitment of financial institutions to call on global leaders and to protect and restore biodiversity through their finance activities and investments. The Pledge exist of 5 steps financial institutions promise to take:
- Collaborating and sharing knowledge
- Engaging with companies
- Assessing impact
- Setting targets
- Reporting publicly on the above before 2025
The Guidance document, clarifies these 5 commitments and are illustrated with own examples of financial institutions and the most relevant resources.
Who can sign up to the Pledge?
Every financial institution can sign up. From bank, insurer, asset manager, pension fund, impact fund to investor.
How can I become a Pledge signatory?
What is the deadline for signing up?
The next celebration of new signatories will be during the European Business and Nature Summit on 30 November and 1 December 2021. The deadline for signing up is Friday 19 November.
What do you need to sign up?
Do you need to pay a fee to sign up?
There is no fee to sign the Finance for Biodiversity Pledge. However, a financial contribution to cover communications is most welcome. Financial contributors will be mentioned on the website and in the celebration video. CEOs of contributing FIs can be featured in the celebration video in the form of a video statement.
Collaboration and collective action on the Pledge commitments through the Finance for Biodiversity Foundation is subject to an annual fee. The amount payable depends on the type of membership you choose and the total assets of your organization. More details can be found in our information pack on the Join the Pledge page.
Is it possible to sign up as a part of our organization as well?
Yes all kind of components of your organization can sign up, as long as that part of the organization will undersign all commitments of the Pledge.
What obligations does signing the Pledge involve?
There are no obligations after signing the Pledge except fulfilling the promises and working on the commitments set out in the Pledge. If you wish, you are welcome to join the Finance for Biodiversity Foundation to work together and undertake collective action with the other signatories in order to fulfil the commitments and collectively report on our progress. More details on this can be found in our information pack on the Join the Pledge page.
What is the relationship between the EU Finance@Biodiversity Community and the Finance for Biodiversity Pledge?
The Pledge is a bottom-up initiative by members of the EU Finance and Biodiversity Community (F@B Community), set up by the European Commission under the EU B@B Platform. It is however fully independent of the European Commission and therefore no part of any policy processes at EU, Member States or global level. The Pledge is fully owned by its signatories. The signatories (EU and global) are welcome to join the F@B Community. This F@B Community provides a forum of dialogue between financial institutions (FIs) to share experiences, raise awareness and promote best practices at EU level on how to integrate biodiversity and natural capital into mainstream financial activities and foster investments to reverse nature loss. The Pledge and its launching activities are managed independently from the F@B Community and financed by the signatories that volunteer to contribute financially to each launching moment of new signatories.
In what way is the Pledge linked to the TNFD?
The Task Force for Nature-related Financial Disclosures (TNFD) is mentioned in the guidance document as an example for commitment 5 of the Pledge, regarding public reporting as a financial institution. The Finance for Biodiversity Foundation is an observer member of the TNFD focusing on guidance and a framework for reporting on nature. The Task Force Members of TNFD will build the reporting framework which will be launched in 2023.
In what way is the Pledge linked to PBAF?
The Partnership for Biodiversity Accounting Financials (PBAF) is a partnership of financial institutions that work together to explore the opportunities and challenges surrounding the assessment and disclosure of the impact on biodiversity associated with their loans and investments. Through discussions, the exchange of experiences and practical case studies, PBAF members cooperate in the development of a set of globally harmonized principles underlying biodiversity impact assessment. Signatories to the Pledge may be interested to join the PBAF discussions, share experiences regarding impact assessment and contribute to a common approach. PBAF is mentioned in the guidance document as one of the platforms for sharing knowledge on finance and biodiversity.
In what way is the Pledge linked to Business for Nature?
The Finance for Biodiversity Pledge is aligned with the Business for Nature Call to Action, uniting the private sector voice to drive policy ambition. With its finance sector specific commitments on biodiversity, the FfB Pledge became part of the Business for Nature Commitment Framework after its launch on 25 September 2020.
What is the Finance for Biodiversity Foundation about?
The Finance for Biodiversity Foundation is a non-profit organization with as aim to support a call to action and collaboration between financial institutions via working groups and as a connecting body for contributing signatories and partner organizations.
“Supporting a call to action and collaboration among financial institutions to reverse nature loss this decade”
How are knowledge sharing and collaboration organized?
In February 2021, active Pledge signatories set up the Finance for Biodiversity Foundation as a new collaboration platform. In the different working groups financial institutions share practices and undertake collective action on Pledge commitments. Our aim is to connect and maximize collaboration with other finance initiatives on biodiversity, such as the Finance@Biodiversity Community, UNEP FI, the PRI, UNEP FI, TNFD and PBAF. Whe therefore coordinate the quarterly updated overview of finance and biodiversity initiatives.
What are the working groups about?
We are currently hosting three working groups:
- Engagement with companies
- Impact assessment (incl. biodiversity measurement and data)
- Public policy advocacy
Each working group is connected to one of the five commitments of the Finance for Biodiversity Pledge and convenes between 15-20 financial institutions. In 2022 we will also look into the potential for and/or interest in other working groups, such as target setting, reporting and positive impact.
Read more about our working groups.
How can I become a member of the working groups?
Who is coordinating Finance for Biodiversity Secretariat?
The Finance for Biodiversity Foundation, set up in February 2021, is the coordinating secretariat of the Pledge, working groups and other finance and biodiversity related activities. The foundation is non-profit and has been set-up by Anne-Marie Bor and Anita de Horde to facilitate active Pledge signatories in a collaborative platform. See also our contact page.