Bringing together insights from the financial sector to strengthen implementation and achievement of the goals and targets of the Global Biodiversity Framework
Relaunching the IDFB on the road to COP16
As COP16 in Cali, Colombia fast approaches, the IDFB is ramping up its activities once again to bring together governments and stakeholders from the financial sector to prepare and mobilize for biodiversity! Members of the IDFB network – and new participants – are welcome to join the upcoming IDFB dialogue sessions and other online events in the run up to COP16 to engage with other governments and stakeholders from the private financial sector, look ahead to what is needed to implement and achieve the goals and targets of the Global Biodiversity Framework, and align, build momentum and share best practices with each other.
The upcoming IDFB sessions will facilitate a place for discussion on key topics for the Global Biodiversity framework – exploring challenges for mobilizing private finance for biodiversity, experiences and best practices for engaging the private financial sector in developing National Biodiversity Finance Plans (NBFPs), progress and actions for aligning all financial flows with nature goals, and what countries need in order to advance on resource mobilization targets of the GBF (Targets 14, 15, 18 and 19).
You can reach out to us at info@idfb-dialogue.org for more information and to register for the upcoming sessions – we look forward to engaging with you and accelerating action and cooperation on achieving the goals and targets of the Global Biodiversity Framework!
Publication on developing blended finance capacity for nature on a national level
The IDFB Paper on Finding Common Ground on the Alignment of All Financial Flows with Biodiversity Objectives.
In preparation for the COP15 in Montreal of December 2022, the IDFB team has been working on the IDFB Paper on Finding Common Ground on the Alignment of All Financial Flows with Biodiversity Objectives. We are happy to announce that the final version of this paper has now been published and is available below! We invite any interested partners to read through the paper and welcome any feedback, insights or discussions that this paper triggers.
The IDFB & its mission
The global gap in funding for biodiversity is estimated to be between US $598 and $824 billion annually. To fill this gap, it is imperative that the financial sector is involved in achieving the Goals and Targets of the Kunming-Montreal Global Biodiversity Framework (GBF). Various governments, including that of the Netherlands, have engaged the financial sector and illustrated that it is possible to integrate biodiversity considerations into all financial flows and have shown how we can use public funding to leverage private finance.
Based on our collective learnings from supporting partnerships and coalitions, the Dutch Government set up the Interface Dialogue Finance and Biodiversity (IDFB) in collaboration with the government of the United Kingdom and the CBD Secretariat. 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), to strengthen efforts to align finance to the GBF, provide a space for dialogue and exchange amongst representatives of Resource Mobilization departments and the private financial sector in order to aid countries in implementing the GBF.
The IDFB has also developed a 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 participants, has formulated the basis of the ‘Finding Common Ground’ Paper. This Finding 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 participants, 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 outline for the Finding Common Ground paper can be found here.
The IDFB mobilises Parties to the CBD and financial institutions in order to galvanise action the transition to integrating biodiversity into financial decision making. The IDFB ran throughout the COP15 and COP16 processes. The IDFB first supported in the run-up to COP15 on the adoption of the 2024 Kunming-Montreal GBF, and later facilitated a space for actors to discuss implementation of the GBF in preparation for COP16 in Cali, Colombia. The dialogue is open for governments and financials that are interested in participating, and is conducted in an informal online (or hybrid) format.
The IDFB facilitates:
- Exchanges and dialogues between a group of governments and financial institutions wanting to create momentum around sharing learnings and finding opportunities for collaboration on this topic.
- 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 for biodiversity in international and finance forums.
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