Here you can find the answers to the most frequently asked questions.
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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 consists of 5 steps financial institutions promise to take:
The Guidance document clarifies these 5 commitments and illustrates them 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?
We organise several rounds of Pledge signatory events every year. For more information and specific dates, please read more on our ‘Join us‘ page.
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 in the press release, on the website, and on our social media channels.
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 organisation. 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 organisation as well?
Yes all kind of components of your organisation can sign up, as long as that part of the organisation 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.
Can you clarify the Pledge commitment on target setting?
We receive many questions about the clarifications and expectations of commitment 4 of the Pledge ‘Setting Targets’. This commitment needs to address investments and finance activities of the financial institutions that sign the Pledge. It does not say anything on specific assets or portfolio’s, that is up to the potential signatory to decide.
It also mentions ‘the best available science’ in which we mean the drivers of loss of the Intergovernmental Sciece-Policy Platform on Biodiversity and Ecosystem Services (IPBES), with the link to the targets under the Global Biodiversity Framework that was adopted during the 15th Convention of the Parties (COP15) in Canada in December 2022.
The Finance for Biodiversity Foundation collaborates together with the Science Based Targets Network and UNEP FI on nature targets for financial institutions.
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 organisation 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 organisations.
“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 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. We, therefore, coordinate the yearly updated overview of finance and biodiversity initiatives.
What are the working groups about?
We are currently hosting four working groups:
Each working group is connected to one of the five commitments of the Finance for Biodiversity Pledge and convenes between member financial institutions. In September 2023 we will launch another working group on 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 programs and activities. Anita de Horde and Anne-Marie Bor have set up the non-profit foundation to facilitate active Pledge signatories in a collaborative platform. See also Our Team.