COP16-Countdown: The role of Finance in the Global Biodiversity Framework

In the lead-up to COP16, Climate & Company, in partnership with Global Canopy and Swedish Pension Fund AP2, will host a webinar to explore the intersection of finance and biodiversity, using the example of deforestation, a biodiversity issue that has seen significant progress over the last decade. The webinar will focus on accelerating action with existing data and  tools, as well as potential policy interventions.

This event, which is open to all, aims to engage journalists, policy makers, civil society and the financial industry in an important discussion on the sector’s role in achieving the goals of the GBF.

The webinar will address the following key questions:

• What can financial institutions already do, and what gaps have recent guidance addressed? The debate on regulation must consider practical feasibility, which is driven by data availability and clear practical guidance. Global Canopy has led the way, establishing deforestation as the biodiversity issue with the most advanced metrics. Their work has influenced others, such as Climate & Company, which, in collaboration with Swedish Pension Fund AP2, has developed a methodology for assessing deforestation risks in global investment portfolios. Our speakers will show what can be done to move from pledges to action and how the financial industry can move towards implementation at COP16.
• Is there room and need for additional policy interventions? The financial sector’s role in driving the sustainability transformation has been the subject of considerable debate. Both the EU’s Deforestation Regulation and the UK’s Environment Act present a critical opportunity to raise the bar for action. Hear from our policy experts on potential regulatory measures and what this means.

Agenda

• Introduction & Recap COP15
• Making Deforestation Due Diligence Work  in Practice for Financial Institutions
• The accompanying regulatory environment: potential interventions, lessons learned, and outlook for COP16
• Q&A

Speakers:

• Åsa Mossberg (Head of Sustainability & Communications, AP2)
• Louise Simon (Climate & Company, Policy Expert)
• Malte Hessenius (Climate & Company, Senior Analyst)
• Pei Chi Wong (Global Canopy)

Register here for participation.

Context:
As the global community prepares for COP16 in Colombia, the spotlight is once again on the financial sector’s critical role in the Kunming-Montreal Global Biodiversity Framework (GBF). Ratified in Montreal at the end of 2022, the GBF extends its reach beyond governments, urging the financial industry to actively monitor, assess, and disclose biodiversity-related risks within their operations, supply chains, and portfolios. Moreover, it calls for the alignment of financial flows with the Framework’s goals. Despite much progress in this area, action by the financial industry is still insufficient: 75% of major financial institutions lack a deforestation policy. As with COP15, there will be a dedicated finance day at COP16. Among other things, we hope to see a shift from pledges to action by governments and the financial industry