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Banking on nature: What the Kunming-Montreal Global Biodiversity Framework Means for Responsible Banks

The UNEP FI’s Banking on nature: What the Kunming-Montreal Global Biodiversity Framework (GBF) Means for Responsible Banks provides an overview of the key implications for banks of the goals and targets of the GBF. It aims to support the industry in managing associated risks, capturing relevant opportunities and preparing for anticipated policy developments that will yield new compliance and disclosure requirements.

Key points

Some of the key recommendations for Financial Institutions (FIs):

  • Align their portfolios—both by financing measures to promote conservation, but more importantly by reducing the financing of activities that harm biodiversity and be based on impact measurement and engagement with investees and clients.
  • Embed nature into their decision-making processes, internalizing environmental externalities and seeking opportunities to invest in the maintenance of land- and seascapes that they and their investee companies source from.
  • Ensure proper stakeholder engagement is applied throughout the life of financed activities and across supply chains, and that free, prior and informed consent (FPIC) principles are applied when indigenous peoples are affected.