This paper argues that governments and regulators, supported by financial institutions and multilateral development banks (MDBs), hold the key to mobilizing private finance at the scale needed to transform the way we build, produce, and consume in order to protect nature while fostering sustainable poverty reduction. The analysis looks at two key approaches to mobilizing private finance for biodiversity. First, it assesses opportunities for financing green, that is, the financing of projects that contribute or intend to contribute to the conservation, restoration, and sustainable use of biodiversity and its services to people. Second, it looks at greening finance, that is, directing financial flows away from projects with negative impact on biodiversity and ecosystems to projects that mitigate negative impact, or pursue positive environmental impact as a co-benefit. Despite growing innovation in both categories, significant challenges to scaling up private finance remain. These include policies that exacerbate the underpricing of biodiversity; lack of data, measurement, and reporting standards; and issues with biodiversity investment opportunities, which tend to be small scale and noncommercial making private sector financing a challenge. The paper provides a set of recommendations for governments, regulators, companies, financial institutions, and MDBs.
Details
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Author
Blarel,Benoit Paul, Ruta,Giovanni, Gavryliuk,Olga, Poisson,Pauline Elodie, Stewart,Fiona Elizabeth, Power,Samantha Elizabeth, Guillon,Benjamin Marie Camille, Likhachova,Irina, Choux,Lisa Michelle
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Document Date
2022/04/06
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Document Type
Report
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Report Number
161283
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Volume No
1
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Total Volume(s)
1
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Country
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Region
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Disclosure Date
2022/04/06
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Disclosure Status
Disclosed
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Doc Name
Mobilizing Private Finance for Nature
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Keywords
Environmental and Social Impact Assessment; ecosystem service; Payments for Ecosystem Services; convention on biological diversity; impact of climate change; Coastal Zone Management; Nature-Based Solutions; sustainable use of biodiversity; good quality of life; severe acute respiratory syndrome; alternative sources of financing; private finance; Financial Sector; multilateral development bank
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Citation
Blarel,Benoit Paul Ruta,Giovanni Gavryliuk,Olga Poisson,Pauline Elodie Stewart,Fiona Elizabeth Power,Samantha Elizabeth Guillon,Benjamin Marie Camille Likhachova,Irina Choux,Lisa Michelle
Mobilizing Private Finance for Nature (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/791251625066253367/Mobilizing-Private-Finance-for-Nature