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Aligning financial flows with biodiversity goals and targets – Part 3

A delegation of the Finance for Biodiversity Foundation will take part in the meetings of the fifth Open-Ended Working Group to contribute to the negotiations on the Post-2020 Global Biodiversity Framework (GBF), from 3 to 5 December, in preparation of the fifteenth Conference of the Parties to the Convention on Biological Diversity (CBD) COP15. On 2 December 2022, the Public Policy Advocacy working group launched a third position paper on what the financial sector needs to see in the GBF, how incorporating the concept of ‘alignment of financial flows’ could be implemented by Parties and, then in turn, for financial institutions, the need for a supportive enabling environment to achieve this. It also includes text suggestions for Goal D, and Targets 14 and 15.

 

 

Participation in the GBF text negotiations 

The Finance for Biodiversity Foundation will also take 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 will be represented by our co-chair Sonya Likhtman (Federated Hermes Limited) of the Public Policy Advocacy working group. 

New position paper

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.

Negotiations on financial sector topics

During the OEWG-meetings, we will make key recommendations on the GBF, focusing on Goal D and Targets 14 and 15, in order to align private and public financial flows and increase action from the private financial sector.

 

Our interventions during the meetings in Montréal will be built on:

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