Finance for Biodiversity Foundation extends implementation window of the Pledge to mobilise future signatories
The Finance for Biodiversity Foundation (FfB) announces a two-year extension of implementing the FfB Pledge commitments for new signatories from 2024. This extension means new financial institutions have two years to implement and report on the five FfB Pledge commitments when they become a signatory
Anita de Horde, Executive Director of the FfB Foundation: “The decision to extend the implementation and reporting timeline for new signatories is a decision made with our Advisory Board to help new financial institutions join our biodiversity movement and act on biodiversity. Financial institutions starting with their biodiversity journey now have the opportunity to implement the Pledge commitments, join as a FfB member and learn from our working groups and participate in collaborative actions on biodiversity”.
Currently, the FfB Pledge is signed by 163 financial institutions from 25 countries and representing €21.7 trillion of combined assets (under management) in total. This first group of financial institutions committed to reporting on the Pledge commitments in 2025 (with 2024 data). Financial institutions that sign the pledge in 2024 will need to report in 2027 (with 2026 data).
Suresh Weerasinghe (Aviva), Chair of the Advisory Board of FfB Foundation: “Aligned with FfB’s mission, this extension helps more financial institutions in implementing impactful measures to halt and reverse biodiversity loss by 2030. The existing 163 signatories remain dedicated to supporting future participants during this extended period, reinforcing the financial sector’s pivotal role in aligning its flows with the Global Biodiversity Framework”.
Collaboration in working groups
Financial institutions that have signed up for the Pledge can become members of the FfB Foundation and participate in the working groups. Our membership is growing and currently stands at 76 financial institutions. The working groups’ collaborative action and knowledge sharing covers the following themes: public policy advocacy, engagement with companies, impact assessment, target setting, and positive impact.
New signatory round on 21 March 2024
A new round of celebrating new signatories on 21 March 2024 to celebrate the International Day of Forests. Financial institutions can already sign up before the deadline of 1st March 2024 via our registration page here.