GID Biodiversity Impact Data Included in the Finance for Biodiversity’s Guide for Biodiversity Measurement Approaches
GID biodiversity has been selected by the Finance and Biodiversity Community and the Finance for Biodiversity Foundation for the ‘Guide on biodiversity measurement approaches’. Being featured in the guide positions GID Biodiversity in the top global approaches for financial institutions to measure the biodiversity impact of their activities.
It features GID Biodiversity among seven leading global biodiversity measurement approaches. The approaches were selected based on scientific robustness and coverage of all the main drivers of biodiversity loss.
Inclusion in the FfB biodiversity measurement guide is a step towards making the Global Impact Database a vital tool for global Financial Institutions to measure impact. The GID team plans to join more collaborative groups to help organisations realise global impact related initiatives.
Biodiversity loss represents a critical global challenge.
Financial institutions are exploring ways to quantify the impacts of their activities on biodiversity. The FfB biodiversity measurement guide features seven biodiversity measurement tools that are relevant to the financial sector. It provides a comprehensive overview of 7 different measurement approaches, including business applications, asset categories, scopes and biodiversity pressures covered, as well as strengths and limitations of each.
GID Biodiversity is a quantitative biodiversity impact database, built on 10 years of experience in the field of impact measurement. It is used by organisations to understand, report and act on the impact of their portfolios. It integrates insights from a variety of data sources to allow users to identify biodiversity drivers at a high-level or to dive into specific portfolio constituents. The main benefits of GID biodiversity are:
Access global geographic and sector data, including emerging markets and other difficult to find portfolio constituencies
Investigate upstream and downstream value chain segments, getting a better and more detailed understanding of value chain impact
Compare biodiversity impact with several other impact themes and financial metrics, thanks to the monetary valuation of impacts
Avoid double counting, to prevent portfolio impact overestimates
An example: ABN AMRO Impact on Biodiversity report
As an example application of GID Biodiversity data, ABN AMRO – one of the frontrunners in the financial sector on reporting on its value creation to society – recently published its ‘Impact on Biodiversity’ report. The Dutch bank used our GID biodiversity approach to assess the impact of its portfolio on biodiversity in a transparent and measurable way.
The Finance@Biodiversity Community, part of the EU Business@Biodiversity Platform, provides a “forum of dialogue between financial institutions to share experiences, raise awareness and promote best practices at EU level on how to integrate biodiversity and natural capital into mainstream financial activities and foster investments in natural capital”.
It aims to accelerate the process of learning and support implementation both at strategic level and in practical experience, thereby supporting the transition towards a sustainable financial sector. In 2020, the F@B Community launched the Finance for Biodiversity Pledge. A growing number of financial institutions calls on global leaders to agree on effective measures and commit to collaborate, engage with companies, assess impact, set targets, and report publicly.