Aligning financial flows with the Kunming-Montreal Global Biodiversity Framework
A high-level roadmap was launched on how financial actors can align financial flows with the Global Biodiversity Framework (GBF).
It was produced by UNEP FI in cooperation with the Secretariat of the CBD, the United Nations Development Programme (UNDP), the World Bank, Finance Montreal and the Finance for Biodiversity (FfB) Foundation.
The roadmap, titled ‘Aligning financial flows with the Kunming-Montreal Global Biodiversity Framework’, proposes recommendations to financial actors on how to integrate the GBF in policies and decision-making processes.
The GBF provides a broad framework which seeks to align public and private financial flows with its 2030 targets and 2050 vision.
The role of the financial sector as part of the GBF is to mainstream nature in decision-making; assess and disclose nature-related risks, dependencies and impacts from businesses and financial institutions; scale up resources targeted to biodiversity conservation and sustainable use and repurpose harmful incentives.
Three main areas of recommendations are suggested for consideration to actors within the whole financial sector to implement the GBF:
- Prepare: setting a clear and consistent environment to catalyse action
- Implement: taking action to align financial flows with the shared vision of the Global Biodiversity Framework
- Engage: supporting the mainstreaming of biodiversity through effective engagement.
The paper is an outcome of the Finance and Biodiversity Day at COP15 in Montreal in December 2022 where the organisations, who produced the document, acted as co-organisers.
Read the report here