Partnership for Biodiversity Accounting Financials (PBAF) and Impact Institute announce cooperation to enhance biodiversity knowledge for Financial Institutions
The cooperation marks a significant opportunity to integrate biodiversity in risk and opportunity assessments and decision–making processes.
AMSTERDAM, 15 May 2024 – In a collaboration aimed at advancing practical knowledge on biodiversity impact and dependency assessments, PBAF and Impact Institute have announced a collaboration to work together on a biodiversity capacity–building programme. The ‘Finance & Nature Toolbox’ programme consists of, amongst other things, an awareness programme of training and webinars and of building a ‘Finance and Nature Toolbox’ – guide, supporting Financial Institutions (FIs) to take action on biodiversity. The programme, made possible by the Global Commons Alliance and Rockefeller Philanthropy Advisors, aims to familiarise FIs with biodiversity impact and dependency assessment tools available on the market and to encourage utilising those tools in practice.
The collaboration with PBAF signifies our shared commitment to promoting impact measurement and considering biodiversity in financial decision-making. Through this collaboration, we seek to equip professionals within FIs with the knowledge and skills necessary to assess and mitigate the impacts of their investments on biodiversity.
Program objective: Capacity-building for biodiversity impact measurement in finance
Over the last few years, a variety of tools and databases have become available for biodiversity impact assessment and, to a lesser extent, for assessing dependency on ecosystem services. Yet, the type and accuracy of the assessment results and what they mean for the use of these tools are often unclear. The number of tools and databases to assess biodiversity is rapidly increasing, further adding complexity to the financial industry.
There is a clear need for practical information and guidance on the use of tools in the finance and biodiversity field. This is precisely what the capacity-building programme is destined to do: provide FIs with hands-on support to put the right tools to use.
An awareness program for systemic change
The ‘Finance & Nature Toolbox’ – a guide in the making, will be made available through the PBAF website in the coming months, enabling all interested FIs to start acting on biodiversity.
The capacity-building program will equip FIs with the necessary knowledge to initiate follow-up steps on biodiversity and integrate biodiversity into their risk & opportunity assessment and decision-making.
Wijnand Broer, Program Manager at PBAF and Partner at CREM Consultancy, further comments on the collaboration, ‘’Through the discussions with our partners and supporters we see that the interest in managing nature-related risks and opportunities is rapidly growing. At the same time, the fast-evolving field of nature-related tools in the finance sector makes it very difficult to see the wood for the trees. What tools to use for what purpose at what stage of the loan and investment process? This is the reason why PBAF initiated the Toolbox project. Not to provide another overview of all the tools that are out there, but to provide practical guidance to put (a selection of) the tools to use.’’
Echoing this sentiment, Arjan Udding, Director of Consulting, at Impact Institute, stated, “This collaboration represents a significant step towards mainstreaming biodiversity considerations within the financial sector. Together with PBAF, we are committed to promoting practical solutions that enable Financial Institutions to effectively measure and manage their biodiversity-related risks and opportunities.”
The joint awareness programme will be delivered through a mix of formats, including collaborative training, and remote learning, to accommodate the diverse needs of participants. Leveraging the combined strengths of the collaboration, the program will offer participants a unique opportunity to gain insights from leading experts in both finance and biodiversity.
To learn more about PBAF, click here.
How Impact Institute helps Financial Institutions manage their biodiversity impact
Impact Institute is a social enterprise and leading provider of software, data, advisory and educational services that enables organisations and investors to manage their impact. We house some of the world’s leading experts in impact valuation and developed the Impact-Weighted Accounts Framework (IWAF), in collaboration with the Impact Economy Foundation, Harvard Business School, Singapore Management University, and Erasmus University Rotterdam. Together with our sister organisation True Price, we continue to further develop True Price methodology and tools to measure and monetise impact.
We work in collaborative partnerships for impact, fostering cross-sector alliances and coalitions that tackle economic, social, and environmental issues and align efforts with global goals and principles, such as the Sustainable Development Goals (SDGs). Read more about our coalitions and partnerships here, as well as some examples of our collaborations in the Sustainable Finance Transition, or contact us for more information.
Impact Institute offers various solutions to help financial institutions gather the data they need to identify their impact on biodiversity. Our core solution, the Global Impact Database (GID), is one of the most complete datasets of non-financial impacts at the country-sector level. The global coverage of our data solution makes it applicable to any region and industry. By quantifying and monetising impacts, we help businesses to make informed decisions on their risks and opportunities. Read more about the Global Impact Database and the GID Biodiversity Impact Data.
To read more about the importance of biodiversity for financial institutions and our guidance on this, head here. Check out also our Biodiversity Knowledge Base.
