The IDFB Common Ground Paper
In preparation for the COP15 in Monteal of December 2022, the IDFB team has been working on the Common Ground paper. The second version draft of full paper is now available for consultation by all. We invite all of our partners and participants of the IDFB sessions to read through it and welcome and feedback, insights or comments you can provide before the finalisation of the paper in advance of COP15. The full paper is available here:
The IDFB has developed an IDFB storyline, which can be consulted for more information on the IDFB. This storyline, as well as the learnings and exchanges shared during all of the IDFB sessions by different Members, has formulated the basis of the in-development ‘Common Ground’ Document. This Common Ground paper aims to synthesise all of the important learnings and key ideas from the IDFB sessions, existing publications relating to biodiversity and finance, and inputs from by IDFB Members, as well as the knowledge shared by our Knowledge Partners. It strives to provide a common understanding of what the Alignment of All Financial Flows means, what actions and actors it entails, and how this can be implemented on the ground so as to align finance with the goals of the Post-2020 GBF. The updated outline for the Common Ground paper can be found here.
About the IDFB & its mission
The gap in funding for biodiversity worldwide is estimated to be between US $598 and $824 billion annually. To fill this gap, the financial sector has to be involved in achieving an ambitious post-2020 Global Biodiversity Framework (GBF). Various countries, including the Netherlands, have reached out to the financial sector and have illustrated that it is possible to integrate biodiversity in all financial flows and to use public funding to leverage private finance.
Based on our collective learnings from supporting partnerships and coalitions, the Dutch Government has set up the Interface Dialogue Finance and Biodiversity (IDFB). The goal of the IDFB is to showcase best practices in greening the financial sector to the Parties of the Convention on Biological Diversity (CBD) and to strengthen their efforts in aligning finance to the post-2020 GBF.
The IDFB was set up by the government of The Netherlands in close collaboration with the government of the United Kingdom and the CBD secretariat.
The IDFB tries to mobilise Parties to the CBD and financial institutions in order to galvanise the transition towards including biodiversity in financial decision making. The IDFB will run up until the COP15 process is completed with the adoption of the GBF. The dialogue is open for governments and financials that are interested in participating, and is conducted in an informal and mostly online or hybrid format.
The IDFB helps to facilitate:
- The alignment of a group of governments and financials wanting to create momentum around exchanging learnings and information on this topic.
- The sharing of knowledge and experiences linked to policy development, tools and data gathering.
- Collaboration on initiatives that strengthen the transition of the financial sector.
- Exploring and supporting countries in getting access to information, tools and best practices for mobilising finance; and in using this information to strengthen the GBF.
- The representation of the topic of finance mobilisation in relevant forums.