It’s time to stop bankrolling deforestation
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In fighting the 2008 financial crisis, major central banks funded widespread destruction of critical forest environments, writes Veronica Oakeshott, Forest Team Leader at Global Witness.
There is a growing focus on nature-related risks by financial market participants and regulators, explains William Attwell, associate director – climate risk, Sustainable Fitch.
Biodiversity must be incorporated into debt sustainability assessments, write Moritz Kraemer, senior fellow, and Ulrich Volz, professor of economics and director of the Centre for Sustainable Finance, SOAS, University of London.
Major improvements need to be made for the financial sector to accurately identify biodiversity and wider nature-related risks, explains Hugh Miller, analyst, green finance and investment team, Organisation for Economic Co-operation and Development.
Financial institutions need standardised risk management and disclosures to respond robustly to the risks arising from nature loss, writes Emily McKenzie, technical director, Taskforce on Nature-related Financial Disclosures.
Dennis Fritsch, associate programme lead nature, United Nations Environment Programme Finance Initiative, explains how a new framework can support the finance industry in transitioning to a sustainable blue economy.
Financial institutions already have the tools they need to quantify nature-related opportunities and risks, write Robin Smale, partner, and Charlie Dixon, solution manager, McKinsey & Company.
Our health, wealth and security depend on natural capital under threat from biodiversity loss and climate change, writes Maud Abdelli, lead, greening financial regulation, WWF.
Accurately measuring and reporting nature-related financial risks forms a strong foundation for safeguarding biodiversity, writes Simon Zadek, executive director, NatureFinance (formerly the Finance for Biodiversity Initiative).
Ahead of COP27, the International Monetary Fund is releasing a paper on climate finance, carbon taxes and their impact on accountancy firms. Bo Li, deputy managing director of the IMF, discusses the paper and the IMF’s role in advancing sustainable finance and the COP agendas.
The Central Bank of Chile has been increasingly focused on the interaction between the environment and the economy. Elias Albagli, director of the central bank´s monetary policy division, joins OMFIF to analyse the macroeconomic consequences of environmental degradation and discuss the medium-term research agenda of the Environmental Economics Group within the bank.
Saskia de Vries, Head of the International Financial Architecture department at the Financial Stability division of De Nederlandsche Bank, speaks with Emma McGarthy, head of OMFIF’s Sustainable Policy Institute, about the role of central banks in driving nature-related risk mitigation, accelerating nature-positive financial flows, and the Network for Greening the Financial Sector’s task force on biodiversity loss and nature-related risks.