New Green Shoots 2023 - Closing the gap in financing the GBF

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Presented by

UNEP FI, PRI, EU Business and Biodiversity Platform and Finance for Biodiversity Foundation

About this talk

Speakers line up: - Jessica Smith, Nature Lead at UNEP Finance Initiative - Sonya Likthman, Manager at Federated Hermes - Adhiti Gupta, Senior Financial Expert at UNEP - Gregory Watson, Principal Specialist at the Inter-American Development Bank - Richard Speak, Managing Director at Finance Earth - Irina Likhachova, Global Lead for Biodiversity Finance at International Finance Corporation The Kunming-Montreal Global Biodiversity Framework (GBF), which was adopted in end of 2022 begins our 'peace treaty with nature' and is in line with the Paris climate agreement’s calls on private sector actors to play a key role in delivering its apex goal to halt and reverse nature loss by 2030. The Paris equivalent for 2.1.C is goal D, which calls upon adequate resources available to implement the agreement, particularly to more vulnerable countries, progressively closing the $700 billion per year finance gap for biodiversity. UNEP’s State of Finance for Nature report calls for tripling investments in nature-based solutions by 2030. In this webinar, we present the headline outcomes of the GBF for the financial sector. We will also zoom in on how financial institutions, via blended finance solutions, can help to substantially and progressively increase the level of financial resources from all sources to implement national biodiversity strategies and action plans in line with target 19. We will present innovative solutions from project developers and conservation organisations who are already working to close the global biodiversity funding gap, and dive into the role that sovereign sustainability-linked bonds can play.
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United Nations Environment Programme Finance Initiative (UNEP FI) is a partnership between United Nations Environment and the global financial sector created in the wake of the 1992 Earth Summit with a mission to promote sustainable finance. More than 240 financial institutions, including banks, insurers, and investors, work with UN Environment to understand today’s environmental, social and governance challenges, why they matter to finance, and how to actively participate in addressing them. UNEP FI’s work also includes a strong focus on policy – by facilitating country-level dialogues between finance practitioners, supervisors, regulators and policy-makers, and, at the international level, by promoting financial sector involvement in processes such as the global climate negotiations.