Here you can find the answers to the most frequently asked questions.
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.
What is the Finance for Biodiversity Pledge about?
With the Finance for Biodiversity Pledge the signatories are calling on global leaders and commit to protect and restore biodiversity through their finance activities and investments in the run-up to the Conference of the Parties (COP 15) to the Convention on Biological Diversity (CBD) in 2021. The Pledge is accompanied with a Guidance document, clarifying the commitments and illustrated with own examples and the most relevant resources to date.
In what way is the Pledge linked to the TNFD?
The development of the Task Force for Nature-related Financial Disclosures (TNFD) is focusing on guidance and a framework for reporting. An Informal Working Group will plan a two-year programme to resolve the reporting, metrics, and data needs of financial institutions that will enable them to better understand their risks, dependencies and impacts on nature. Some signatories of the Finance for Biodiversity Pledge will also take part in the Informal Working Group of the TNFD under development. TNFD is also mentioned in the guidance document as an example for commitment 5 of the Pledge, regarding public reporting as a financial institution.
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.
How are knowledge sharing and collaboration organized?
In April 2021, active Pledge signatories set up the Finance for Biodiversity Foundation as a new collaboration platform. Working groups are being formed to 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.
Who can sign up to the Pledge?
Every financial institution can sign up. From bank, insurer, asset manager, pension fund, impact fund to investor.
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 is the deadline for signing up?
We are organizing a new launching moment on 21 May, the day before global Biodiversity Day.
The deadlines for signing up to this round are:
- Wednesday 5 May – for signing up and contributing to the celebration with a CEO statement video
- Monday 10 May – for signing up without video
There will be next rounds of signing up, onwards to the CBD COP15
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.
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.
Who is coordinating the Finance for Biodiversity Pledge?
The Dutch sustainability facilitation company NextGreen and sustainable finance consultancy de Horde Advies are asked to coordinate on the Pledge process and communication. The team that is involved are Anne-Marie Bor (coordination and moderation), Anita de Horde (coordination and communication) and Iris Hertog (community management and support). NextGreen and de Horde Advies also coordinate the EU Finance and Biodiversity Community under the EU B@B Platform.
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