Policy Briefs

Aligning Climate And Biodiversity Finance

Task Force: Climate and environment

Authors:

Andrew Deutz

Abstract

The G7 can provide a powerful signal on resource mobilization for biodiversity and climate change ahead of the Biodiversity Convention COP15 in Kunming to ensure that financing efforts to address the global climate crisis and the global biodiversity crisis are synergistic and mutually re-enforcing. G7 countries should commit to allocate 30% of their international climate finance towards nature-based solutions in order to simultaneously achieve climate and biodiversity outcomes. Furthermore, the G7 should commit to ensure that, in achieving the $100B climate finance commitment, all climate finance is screened to be nature-positive. Additionally, Lastly, the G7 should call upon the Multilateral Development Banks to build on the MDB Joint Nature Statement from Glasgow to become “Kunming Aligned” following the adoption of the Global Biodiversity Framework at UNCBD COP15, just as they have previously committed to become “Paris Aligned.