Finance for Biodiversity Foundation announced 7 new Pledge signatories on International Day of Forests
On 21 March, The Finance for Biodiversity (FfB) Foundation announced 7 new signatories of the FfB Pledge and reached new milestones with 170 signatories from 26 countries, representing €22 trillion of combined assets (under management) in total. The launch of the new signatories was celebrated on International Day of Forests.
New signatories and members
The 7 new Finance for Biodiversity Pledge signatories are Andera Partners, Alken Asset Management Ltd., EMZ Partners, ESG Portfolio Management GmbH, MAIF, Serena, and Silverstrand Capital Management Pte. Ltd. This group underscored the notable presence of asset management firms among our latest signatories.
New signatories, Andera Partners, and MAIF decided to join the FfB community and became members. This increased the FfB membership number from 73 to 75 in total.
Expanding combined assets and Asian representation from Singapore
With the new total of signatory financial institutions, the FfB Pledge opened its first signatory pledge round of 2024, with 170 signatories and €22 trillion of combined assets (under management) in total. This increase in value of 300 billion corresponded to an increase in signatories from the current round and an update of previously committed FfB Pledge signatories’ assets.
With the addition of Silverstrand Capital Management Pte. Ltd. as a new signatory, the FfB community gained a new member from the Asian continent but also the representation of Singapore as a new country.
Launching on the occasion of International Day of Forests
The signatories have announced their commitment on the International Day of Forests to advocate for healthy forests and raise awareness of the importance of all types of forests. The United Nations has proclaimed 21 March the International Day of Forests and hereby encourage all countries to undertake local, national and international efforts to organise activities involving forests and trees (such as tree planting campaigns). This year’s theme, “Forests and Innovation – New solutions for a better world”, reflects on how innovation is unlocking the forests´ full potential and how it can help restore, manage and use forests sustainably.
Healthy forests are vital for all aspects of a healthy planet, from livelihoods and nutrition to biodiversity and the environment. Read more about this commemorative day here.
Finance for Biodiversity Pledge
The Finance for Biodiversity Pledge is a commitment of financial institutions to protect and restore biodiversity through their finance activities and investments. The Pledge consists of 5 steps financial institutions commit to take:
- Collaborating and sharing knowledge
- Engaging with companies
- Assessing impact
- Setting targets
- Reporting publicly on the above by 2024 at the latest, or within two years after signing*
*Financial institutions that signed the FfB Pledge before 2024 are committed to report publicly in 2025 (with 2024 data). Signatories that committed in 2024 will need to report publicly in 2027 (with 2026 data).
Extension of the implementation window for new Pledge signatories (*)
The Finance for Biodiversity Foundation (FfB) has extended the implementation timeline for new signatories of the FfB Pledge, giving them an additional two years to implement and report on their commitments as from 2024. This extension is intended to encourage more financial institutions to join the biodiversity movement, offering them time to implement the Pledge commitments and to join our movement as FfB members to engage in our working groups, and collaborate in our initiatives.
This extension supports FfB’s mission to support a call to action and collaboration among financial institutions to halting and reversing biodiversity loss by 2030.
Read more about the two-year extension of the implementation window here.
New signatory round on 22 May 2024
FfB Foundation will organise another round celebrating new signatories on 22 May 2024 to celebrate the International Day for Biological Diversity. Financial institutions can already sign up before the deadline of 3rd of May 2024 via our registration page here.