Finance and Biodiversity Day at COP16

COP16 Finance & Biodiversity Day, which will take place on 28 October and will be broadcast live on the United Nations web television channel, aims to mobilise a globally representative group of financial sector stakeholders in support of the achievement of Goal D of the Global Biodiversity Framework and associated targets in line with the priorities of the National Strategies and Biodiversity Action Plans of the countries.

The current rate of biodiversity erosion creates material and systemic risks for the global financial landscape and financial organizations. The financial sector (public and private) has a key role to play in aligning financial flows and mobilizing financial resources in support of the MGB vision and its effective implementation, particularly with regard to Goal D and MGB targets 14, 15, 18 and 19.   The active engagement of financial sector participants in the implementation of the MGB is a source of opportunities for financial organizations to support, invest in, and benefit from a more systematic and integrated consideration of biodiversity in their policies, strategies, and businesses. To show voluntary action as a lever to encourage policy makers.

Finance and Biodiversity Day will include several sessions that will address critical issues such as financing ecosystem restoration initiatives, creating innovative financial mechanisms, and how public policies can incentivize investment in conservation projects. These discussions not only seek to mobilize resources, but also to identify challenges and opportunities in aligning the financial system with the objectives of the Global Biodiversity Framework (GBF).

Some of the featured sessions will include:
• “Scaling Up Finance for Nature-based Solutions”, which will discuss how to increase the flow of capital towards projects that use nature-based solutions to solve environmental and climate challenges.
• “Innovative Financing Mechanisms for Biodiversity”, a session focused on exploring emerging financial tools, such as green bonds and biodiversity-focused investment funds.
• “Public-Private Partnerships for Biodiversity Finance”, which will examine how public-private collaboration can help close the conservation finance gap.