Titled “Nature’s next stewards: why central bankers need to take action on biodiversity risk”, the report, launched on July 14, was compiled with contributions from a list of parties. They are: the Institute for Climate Economics (I4CE), Finance For Biodiversity (F4B), Ecofact, Council on Economic Policies (CEP) and International Union for Conservation of Nature (IUCN).
Despite the recent spotlight on sustainable investing, the financial sector is still falling short, say experts. A new report by the World Wide Fund for Nature (WWF) warns that current practices of only integrating climate-related risks and impacts in existing mandates — and not including risks from nature loss — are insufficient to protect the world and its assets.
“The unprecedented rate of biodiversity loss — exacerbated by and contributing to climate change — is undermining key ecosystem services and natural resources on which the economic system depends, fuelling economic vulnerabilities and risks,” reads the WWF report.
