Statement issued on behalf of Campaign for Nature, Conservation Finance Alliance, Conservation International, IFAW, The Nature Conservancy, WCS and WWF: -
'We, a coalition of leading nature conservation NGOs, welcome the Joint Declaration of all Public Development Banks in the World and the International Development Finance Club (IDFC) Common Position Paper on Biodiversity following the Finance in Common Summit held on November 11-12, 2020.
While the commitments made for biodiversity at the Finance in Common Summit are welcomed fundamental steps, we urge Public Development Banks to further reinforce their global leadership in order to effectively and operationally shift towards 'nature-positive' development finance. This will require phasing out investments in activities that have harmful effects on nature, strengthening the implementation of compensation schemes for the residual, unavoidable impacts on biodiversity caused by investments, and closing the gap in finance for biodiversity through quantifiable commitments. We stand ready to partner with Public Development Banks and contribute our scientific, policy and project development expertise to work together towards the common aim to protect and restore biodiversity.
Nature is flashing red warning signs of system failure. Next year in China, the 15th Conference of the Parties to the UN Convention on Biological Diversity will be a crucial opportunity to agree on a new shared framework to halt and reverse biodiversity loss. PDBs are in a unique position to influence the shift of financial flows and mobilise finance at scale toward activities that help—rather than hurt—nature.