Finance Ministers and CEOs Unite for Groundbreaking Dialogue on Nature Finance at COP16
This week at COP16, a landmark event brought together finance ministers and CEOs from leading financial institutions for a first-of-its-kind dialogue. On October 28, they engaged informally to discuss key barriers and challenges to advancing the Global Biodiversity Framework (GBF). The following day, they shifted focus to solutions and opportunities to drive nature-positive finance forward.
The meetings were organised by the Finance for Biodiversity (FfB) Foundation and the Coalition of Finance Ministers for Climate Action (CFMCA), with support from the CBD Secretariat, Inter-American Development Bank, UNDP, UNEP, and the World Bank Group. These invitation-only gatherings offered a unique platform for finance ministers and CEOs to explore how the GBF can be strategically implemented in national financial planning, and the crucial role of finance ministries in embedding biodiversity into economic policies and frameworks.
Inger Andersen, UNEP Executive Director, opened the first session with powerful remarks, followed by contributions from the following CEOs of member financial institutions:
- Jan Erik Saugestad, CEO, Storebrand Asset Management
- Anne-Laurence Roucher, Deputy CEO, Mirova
- Genevieve Morin, CEO, Fondaction
- Bishop Graham, Board Member, Church Commissioners
- Isabelle Combarel, CEO, Arkea Capital
Next to representatives of governments, multilateral and development banks, the following finance ministers and high-level representatives included:
- Hon. Ricardo Bonilla, Minister of Finance and Public Credit, Colombia
- Jochen Flasbarth, State Secretary, BMZ, Germany
- Hon. Amos Lugoloobi, Minister of State Planning, Uganda
- Dr. Florika Fink-Hooijer, Director-General, Environment Department, European Commission
“Nature and climate are two sides of the same coin, and finance ministers have already shown leadership by forming a coalition on climate—demonstrating that climate action is a shared responsibility beyond environment ministries. Although progress is still slow, many ministers are beginning to take steps for both climate and nature. Elevating nature and climate as core goals of this coalition would send a powerful message. The experience shared at COP16 among finance ministers, multilateral development banks, development finance institutions, and the private sector has underscored the immense value in accelerating progress on Global Biodiversity Framework targets 14, 15, 18 and 19”, said Anne-Laurence Roucher, Deputy CEO, Mirova, who was moderating the second meeting.
Following the conversations
As a follow-up to these conversations, the Coalition network has committed to supporting finance ministries by strengthening nature-related capacities, sharing best practices, and connecting country needs with Institutional Partners. Further details about this commitment can be found in the Meeting Note, published here. The FfB Foundation also stands ready to collaborate and continue dialogue with finance ministries and financial institutions to drive actionable progress on shared biodiversity goals.
