Finance for Biodiversity Foundation
The Finance for Biodiversity Foundation (FfB) supports integrating biodiversity-related objectives into financial institution activities and their collaboration with current and future biodiversity-related initiatives. The FfB and Finance@Biodiversity community launched the Finance for Biodiversity Pledge (‘the Pledge’) where 84 signatories committed to five initiatives focused on biodiversity conservation through financial activities.
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OVERVIEW
The Pledge was established by 26 financial institutions on the 25th of September 2020 seeking to contribute to biodiversity by pursuing a collective goal of promoting and collaborating on biodiversity-related objectives. The Pledge’s creation signified a recognition of their responsibilities as financial leaders with significant influence over the development of biodiversity conservation, political agendas, market behaviour, and future sustainability. Using this influence, the Pledge aims to call on global leaders to devote public sector investment into biodiversity conservation through national policies. As of the 17th of February 2022, there are 84 signatories to the Pledge and 42 members actively participating in the FfB’s working groups.
The Pledge commits to five main initiatives of collaboration and knowledge sharing, corporate engagement, impact assessment, setting targets, and publicly report biodiversity activities and impacts by 2024. Accompanying these initiatives are quarterly-updated comprehensive overviews that aim to inform the financial community about the progression and existence of global initiatives seeking to promote biodiversity in finance.
To support the understanding of the Pledge and the FfB, publications of working group projects, sustainable finance knowledge, and current biodiversity-related strategies are provided. Resources like the Overview of Initiatives for Financial Institutions summarises major global initiatives working on promoting biodiversity in finance. Other resources include the Guide on Biodiversity Measurement Approaches which features an overview of six main tools used to measure biodiversity, and the Guidance to the Pledge which explains the purposes and commitments of the Finance for Biodiversity Pledge.
The FfB hosts three working groups focusing on corporate engagement, impact assessment, and public policy advocacy. Activities of each working group include creating biodiversity engagement activities, mapping methodologies and strategies to develop impact measurement approaches, and influencing global policies at international conventions such as the Convention on Biological Diversity (CBD) respectively.
MISSION STATEMENT
Supporting a call to action and collaboration among financial institutions to reverse nature loss this decade.
FUNDING SOURCES
The Pledge does not require a payment to sign it, but financial contributions are accepted via communication packages where proceeds support publicity of the Pledge. In return for contributions, the FfB website will feature signatories in various platforms and press releases according to the level of contribution signatories offer. The weblink to the Information Pack features a table on page 12 with more information on these two types of contributions.
The FfB membership requires differing fees according to the level of membership an organisation chooses: Impact Member, Collaborating Member, Supporting Member. All types of membership levels offer different access to activities, events, publicity, resources, and newsletters. The weblink to the Information Pack features a matrix on page 23 with more information and the various fees for a membership.