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Oxford Sustainable Finance Summit 2023 – Achieving the aims of the biodiversity framework: What role for finance?
19 July 23 @ 2:30 pm - 4:00 pm
After two years of delays, COP15 was finally held in December, bringing together nearly 200 governments to negotiate a global agreement on biodiversity and conservation. The resulting Kunming-Montreal Global Biodiversity Framework is being hailed by some as a ‘Paris Agreement for Nature’. It commits signatories to act to conserve 30% of land, sea and freshwater sources by 2030; to rethink $500bn in annual subsidies that support businesses which undermine nature-related objectives; and to raise at least $200bn each year for conservation.
But what role can the finance sector play in supporting the framework’s goals? Will these government commitments create a new set of financial risks and opportunities for financial institutions? And is there enough of a roadmap to encourage capital allocation and stewardship strategies?
Johan Florén, Chief ESG and Communication Officer, AP7, and member of TNFD, Jenni Ramos, Lawyer, Corporate/Finance and Biodiversity, Commonwealth Climate and Law Initiative (CCLI), Jessica Smith, Nature Lead, UNEP Finance Initiative, UN and Keith Tuffley, Vice Chairman and Global Co-Head, Sustainability & Corporate Transitions, Citibank examined the implications of the global biodiversity framework and how financial institutions can, and already are, moving to support its objectives. This panel discussion was moderated by Robin Millington, Chief Executive Officer, Planet Tracker.