The Finance for Biodiversity Foundation (FfB), which has more than 30 financial institutions as active members, has officially become an observer member of the Convention on Biological Diversity (CBD). This means that from now on, we can attend CBD meetings and contribute input to the negotiations.

On August 25, during a meeting of Open Ended Working Group 3 (OEWG, WG2020-3), we exercised our right to speak for the first time. The interim chair of the FfB working group on Public Policy Advocacy, Sonya Likhtman (Federated Hermes International), presented a statement during the plenary part of the session.

Likhtman stated:

The financial sector must contribute to the implementation of the Global Biodiversity Framework, but in order to do so, certain preconditions are necessary: supportive legislation, ambitious and binding targets, and relevant guidelines. We strongly recommend that the next draft of the Global Biodiversity Framework include explicit requirements for aligning public and private financial flows with global biodiversity targets.