Financial sector plays a role in biodiversity conservation
By Liu Zhaoqin, Li Xiaoyao
The Global Joint Initiative on the Partnership of Biodiversity and Finance was jointly launched by 13 institutions including the International Finance Forum and the World Resources Institute on Monday.
It is a cooperation mechanism among financial institutions, social organizations, enterprises and government departments on biodiversity and finance. The main objective of the partnership is to help implement the Kunming Declaration and the Global Ecological Civilization Initiative on Biodiversity Conservation.
The partnership helps solve the shortage of funds for biodiversity conservation and promote financial institutions more actively participating in global governance of nature biodiversity.
"In terms of strategies, the financial sector can do a lot to increase biodiversity awareness and participation among all stakeholders," Giovanni Ruta, the lead environmental economist for China at the World Bank, told CGTN.
Investment companies can establish a mechanism to engage with their clients to make investments in financial products on nature conservation.
"For example, in Brazil, 46 percent of the banks are exposed to nature sectors, so they are highly dependent on nature," Ruta said.
Banks can provide information on the green financial products in the their portfolios, then they can tell investors where the capital goes and promote the investors' awareness. Therefore, investors are becoming more aware and more sensitive to green financial products and nature conservation.
"As the world's second largest economy, China can play a leading role in biodiversity and financial partnerships," said Ruta.
Thirty-six Chinese banking financial institutions announced the Joint Declaration of the Banking Sector to Support Biodiversity Conservation, aiming to build a partnership between biodiversity and financial services around the world and provide financial support in achieving eco-friendly, sustainable, green and inclusive development.
Experts say it's a balanced, healthy and thriving world that we need for our future. But we have very little time to stop animals and plants from vanishing forever. With the efforts and actions of all parties, the goal of the Post-2020 Global Biodiversity Framework will be achieved.