Luxembourg, 06 December 2021 – The eco.business Fund has signed the Finance for Biodiversity Pledge; a commitment of financial institutions to protect and restore biodiversity through their finance activities and investments.
Towards this goal, the signatories of the pledge commit themselves to make every effort to take responsibility and contribute to the protection and restoration of biodiversity and ecosystems including by engaging in a set of five activities: mutual cooperation and knowledge sharing, calling companies to account, determining the impact of investments on biodiversity, setting clear goals for increasing positive impact and then reporting on this transparently. The ultimate goal is to make a positive contribution to the preservation of biodiversity.
The pledge was launched by a group of 26 financial institutions on 25 September 2020 and has grown since then and currently stands at 84 signatories. Financial institutions that sign the Finance for Biodiversity Pledge can engage in different platforms such as the Finance for Biodiversity Foundation and the Finance and Biodiversity Community to facilitate dialogue and cooperation.
Dr Jens Mackensen, Chairperson of the Board of Directors of the eco.business Fund, stated: “Signing this pledge is in line with our goal of promoting sustainable business and consumption practices that conserve biodiversity. We look forward to working with the other signatories and enhancing green finance activities to create positive, tangible impact for biodiverse ecosystems.”
About the eco.business Fund
The eco.business Fund aims to promote business and consumption practices that contribute to biodiversity conservation, to the sustainable use of natural resources, and to mitigate climate change and adapt to its impacts in Latin America and the Caribbean, and sub-Saharan Africa. By providing financing for business practices that conserve nature and foster biodiversity, the fund seeks investments with both environmental and financial returns. The eco.business Fund provides financing through three avenues: local financial institutions that are committed to the fund’s mission and which have the capacity to reach its target group; directly to its target group (i.e. companies and producers); and in the case of sub-Saharan Africa, to real sector intermediaries. The fund supports sustainable operations in the sectors of agriculture, fishery (including aquaculture), forestry and sustainable tourism. Target beneficiaries are those that hold an eligible sustainability certification or those taking out a loan to make eligible sustainable investments in their operations.
Operating together with each of the two sub-funds, are two development facilities that provide high-impact technical assistance to investment partners and final borrowers.
An impact investment fund advised by Finance in Motion, the eco.business Fund was initiated by Germany’s KfW Development Bank and Conservation International with financial support from the German Federal Ministry for Economic Cooperation and Development (BMZ).
The sub-fund for Latin America and the Caribbean has received funding from the European Commission as well as from numerous other prestigious development finance institutions and institutional investors.
The sub-fund for sub-Saharan Africa was launched in 2020 with initial funding from BMZ.
For more information, please visit www.ecobusiness.fund and follow us on Twitter
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