Finance for Biodiversity Pledge

Finance for Biodiversity Pledge (2020 – )


Finance for Biodiversity Foundation

In order to reverse global biodiversity loss, a transformation is needed across all sectors of society. Financial institutions, including banks, insurers and asset managers, are also beginning to see that their investment activities can have either a positive or a negative impact on nature and biodiversity. For financial institutions, biodiversity loss represents a potential business risk in the long term.

Therefore, in parallel to their strengthening commitment to climate targets, financial institutions also want to commit to protecting and restoring biodiversity. They are joining forces to achieve this in the Finance for Biodiversity Pledge. In the Pledge, banks, insurers, asset managers and impact funds from different countries promise to start working for biodiversity. They also call upon other financial institutions and heads of state to join them, so that together we can reverse global biodiversity loss.

The Finance for Biodiversity Pledge has been initiated by members of the F@B Community of Practice. The Pledge has grown into an independent project that is funded through contributions from the participating institutions.

Members

Members of the Finance for Biodiversity Foundation: Achmea Investment Management, ACTIAM N.V., Bankinter, Coöperatie Klaverblad Verzekeringen U.A., Coöperatieve Rabobank U.A., HSBC Global Asset Management, the international business of Federated Hermes, Karner Blue Capital, La Financière de l’Échiquier, Pireaus Financial Holdings, Mirova, Robeco, SCOR SE and Swedbank Robur

Find an overview of all signatories to the Pledge here.

Goals

  • To raise awareness of biodiversity among financial institutions and governments
  • To join forces and facilitate shared development
  • To encourage heads of state to set ambitious biodiversity targets at the CBD COP15

Role and activities of NextGreen

Coordination for signing and launch events | Community management | Communication

In collaboration with: Anita de Horde from De Horde Advies

Exploration of climate adaptation in the finance sector

Analysis of climate adaptation in the finance sector (2020-2021)


Climate-proof Together

In order to make further progress on climate adaptation in the Netherlands, it is important to understand the initiatives that are currently underway in the field of climate risks and adaptation in the financial sector. We need a clearer insight into the field and a ‘shared language’ for banks, investors, and insurers and for the municipalities and water boards which financial institutions are working with because of where their assets are located. What instruments are financial institutions using to assess and improve the climate resilience of their investments and customers, and what options do they have when it comes to taking action?

Based on twenty interviews with various levels of government, financial institutions and umbrella organizations, as well as through desk research, NextGreen has created an overview of current developments. This was done together with Climate-proof Together (Samen Klimaatbestendig) and the Dutch Association of Investors for Sustainable Development (VBDO). We have also inventoried the next steps that the financial institutions can take and identified ways in which they could improve collaboration with the public sector. After all, both financial institutions and governments are targeting the same stakeholder groups in order to promote climate adaptation, including developers, property owners and companies.

The results of this analysis have been presented in the form of a visual story. Alongside the analysis of the current state of play, we also present a number of recommendations on how financial institutions and governments can align their activities better with respect to risk analysis, communication and financial incentives. Furthermore, we have added a glossary as a first step towards creating a shared language for the sector, which can improve the dialogue between financial institutions and the public sector. The results have been well received by the interviewees and form a good basis for a possible follow-up.

Goals

  • Identify the challenges and opportunities with respect to climate adaptation initiatives in the finance sector
  • Develop a common language and an action perspective towards developers, real estate owners and companies
  • Create a coherent and widely accessible overview of initiatives: what is already happening, and what else is possible and necessary in the transition towards climate adaptation in the financial sector?
  • Explore the need for a partnership on this topic and the opportunities for partnerships that exist

Role and activities of NextGreen

Assessment, interviews and desk research | Developing analysis and visual story | Exploring opportunities for partnership

Together with the Dutch Association of Investors for Sustainable Development (VBDO) and Climate Risk Services.


Results and more …



EU Finance@Biodiversity Community

EU Finance@Biodiversity Community (2017 – )


European Commission, DG Environment

 
The European Commission started the EU Finance@Biodiversity Community to integrate biodiversity, the basis of all life, into investment decisions of financial institutions. In the F@B Community several participants will share their experiences on their activities and investment strategies regarding ecosystems and biodiversity issues. As well as developments around, the F@B Community builds upon experiences from the previous Dutch CoP Financial Institutions & Natural Capital which was also facilitated by NextGreen.

Members

ABN AMRO, Achmea Investment Managemenst, Actiam, Affirmative IM, ASN Bank, AXA Investment Managers, Bank of Ireland, Bankinter, CDC Biodiversité, Conservation Capital, EIB, Finance in Motion, FMO, GLS Bank, ING, INOCAP, Mirova, Piraeus Bank, Rabobank and SCOR. Carbon Disclosure Standards Board, Ministry of Economic Affairs, Natural Capital Coalition, Natural Capital Finance Alliance, UNEP FI, VBDO.

Aim

To support the transition towards a sustainable financial sector by:

  • Sharing experiences and promoting best practices;
  • Deepening in three working groups: Biodiversity Accounting, Positive Biodiversity Impact and Ambition & Responsibility
  • Connecting to other developments and initiatives regarding green finance

Role and activities NextGreen

Supporting EU Platform Business@Biodiversity | Leading workstream Finance | Facilitating F@B Community | Guiding working group
Together with ICF International
 

Greening Taxes

Greening Taxes (2015 – )


Ministry of Infrastructure and Water Management


Tax differentiation can be put forward as an incentive for broader awareness on climate adaptation. Advantage on taxes offers a financial leverage for the investment in a green roof or related measure.

Commissioned by the Delta Plan on Spatial Adaptation we identified various types of financial incentives that municipalities and water boards could use to encourage residents and entrepreneurs to adapt their buildings and gardens. The report shows trends in financial incentives and opportunities to link to other sustainable themes. The accompanying pamphlet with infographic calls on municipalities and water boards to collaborate in taking next steps.

In the Green Deal Green Roofs we explored the legal and financial aspects of tax differentiation for three forms of water taks and real estate related tax. Pilots will serve as a test for the scalability of the concept.

Partners

  • Advisory group: Ministry of Infrastructure and Water Management, the Association of Netherlands Municipalities, the Dutch Water Authorities, the Association of Provinces of the Netherlands, RIONED Foundation, Amsterdam Rainproof, municipality of Rotterdam, Water board Hunze and Aa’s, Ambient.
  • Project team from Green Deal Green Roofs: boards Vechtstromen, Aa en Maas, De Dommel, municipalities of Enschede, Rotterdam, and Son en Breugel, VEBIDAK.

Aim

To explore the possibilities and effectiveness for tax differentiation by

  • Collecting and describing existing practices
  • Experimenting and calculating pilots

Role and activities NextGreen

Process management | Report development | Facilitation advisory group | Organising pilot learning process
In collaboration with Stroom en Onderstroom


Results and more…