Governments reached an agreement at COP15 – Reaction Finance for Biodiversity Foundation
December 19, 2022
Finance for Biodiversity Foundation activities at COP15
The second part of the fifteenth meeting of the Conference of the Parties to the Convention on Biological Diversity (CBD COP15) is taking place from 7 to 19 December 2022 in Montreal, Canada. It’s a key moment for global biodiversity, as world leaders will gather and discuss measures to halt biodiversity loss.
Representatives from 196 countries come together to agree upon new global goals and targets on biodiversity in a Global Biodiversity Framework, ‘A New Deal for Nature and People’ that will be implemented over the next decade. COP15 presents an opportunity for transformative change to address the biodiversity crisis. To be successful, it must highlight the necessary actions to be taken by all stakeholders, including the financial sector, to urgently halt and reverse biodiversity loss.
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Our Position
The Public Policy Advocacy working group launched the third position paper with suggestions for the goals and targets of the framework. 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, financial institutions, and the need for a supportive enabling environment to achieve this.
The Foundation also took 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 was represented by our co-chair Sonya Likhtman (Federated Hermes Limited) of the Public Policy Advocacy working group.
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Our Delegation
Aviva, Federated Hermes Limited, Manulife and Storebrand Asset Management are among the 26 financial institutions that will be representing the Finance for Biodiversity Foundation delegation at the fifteenth meeting of the UN 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. 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.
Read more about our CBD COP15 delegation
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Thanks to our sponsors who make our presence at COP15 possible
