December 1, 2022
In October 2020, our consortium of Climate & Company, WWF and the Frankfurt School of Finance and Management (project lead) started to analyse approaches to biodiversity risk within the German financial sector, identifying widely used tools at top performing financial institutions, frameworks and opportunities for further action. This project is funded by the German Federal Agency for Nature Conservation (BfN).
In 2021, the project resources were particularly used to support the development of EU Taxonomy criteria on biodiversity and ecosystems (due to Ingmar Juergen’s former role as the coordinator of biodiversity criteria in the EU Platform on Sustainable Finance). In 2022, we also supported the development of the European Sustainability Reporting Standard on biodiversity and ecosystems, among other activities.
The final publication of this project is a practical guidelines for more biodiversity protection in financial decision making (which was published in December 2022).
Timeline of events
- Oct 2020: Beginning of the project
- 2021: Supporting working groups of the EU Platform on Sustainable Finance regarding high-impact sectors
- 2021: Analysing and criticizing EU Taxonomy draft criteria on biodiversity and ecosystems
- 2022: Supporting the development of the European Sustainability Reporting Standard E-4 on biodiversity and ecosystems (via EFRAG)
- 2022: Taxo4 scrutiny analysis and coherence check whether the EU Taxonomy criteria consider deforestation aspects (in direct operations and in the supply chain)
- Nov/Dec 2022: Launch of final report “Biodiversity and Sustainable Finance – Managing the double materiality” and webinar with German financial institutions