Alignment of Financial Flows with the GBF: from ambition to implementation
Alignment of Financial Flows with the GBF: from ambition to implementation
Hosted by the Finance for Biodiversity Foundation
Date and time – Sunday 27th October, 16:45 – 17:45
Venue – Finance and Biodiversity Pavilion, Blue Zone – Cali, Colombia
Topics – Policy & Regulations
Format of event – Presentation / Panel
GBF targets – Goal D, Target 14, Target 15, Target 18, Target 19
Summary
This event will build on the work of the Foundation’s Public Policy Advocacy working group in calling for greater ambition of governments in implementing the Global Biodiversity Framework and aligning financial flows with its goals and targets. The panel aims to encourage dialogue with negotiators about the transition of economic sectors through strong policies, regulations and incentives to halt and reverse biodiversity loss.
Description
This panel will progress from the work of the Foundation’s Public Policy Advocacy work group in calling for greater ambition of governments in implementing the Global Biodiversity Framework and aligning financial flows with its goals and targets. The working group produced a policy paper in April 2024 with four key recommendations for governments to align financial flows and clearly articulate the role of private finance in their national biodiversity strategies and actions plans (NBSAPs) and National Biodiversity Finance Plans (NBFPs). These recommendations cover disclosure requirements, climate-nature transition plans, central bank and regulatory actions, as well as economic incentives.
The event will be a key occasion for the FfB Foundation community to engage with governments and stakeholders to encourage them to implement GBF targets that are key for the alignment of financial flows (14, 15, 18, and 19). It will also serve to express that the Resource Mobilisation Strategy should provide clear policy pathways, focusing on the transformation of underlying economic activities, and that the mobilisation of private financial flows should be adequately monitored.
It will aim to establish and encourage dialogue with Parties about the need for alignment of financial flows, presenting the FfB Foundation’s expectations and recommendations for COP16. It will aim to foster a space for discussion, with governments able to directly take private sector feedback into consideration, and private finance understanding government ambitions and constraints. Such exchange between public and private leaders can generate innovative ideas toward transformation pathways.
Programme & Speakers
Moderator
Natacha Boric, Finance for Biodiversity Foundation
Presentation of the FfB Foundation recommendations on GBF implementation and COP16 policy expectations
Sonya Likhtman, Federated Hermes Limited, co-chair of the FfB Public Policy Advocacy working group
Panel on policy pathways for the alignment of financial flows with the GBF goals and targets
Suresh Weerasinghe, Aviva, Chair of the Finance for Biodiversity Foundation Advisory Board
Michael Ofosuhene-Wise, Senior Manager Business Action, Business for Nature
Ye Wang, China CBD Focal Point
Laura Bermudez, Colombia CBD Focal Point
Q&A
session with the audience
OBJECTIVES
- This panel will gather FfB representatives and country negotiators to discuss how to effectively implement the alignment of financial flows and ensure that private finance is reflected in the Resource Mobilisation strategy.
- The event will highlight progress and stimulate discussion on aligning financial flows with the GBF goals and targets and bringing private finance further into the fold.
- This event will enable the foundation for further planning and idea generation for how private actors can continue to act with ambition to close the biodiversity funding gap.
AUDIENCE
Financial regulators and policymakers, financial institutions, and civil society that are interested in the policy pathways necessary to enable the alignment of financial flows with the goals and targets of the GBF.