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The EU Community of Practice Finance@Biodiversity explored tools to identify biodiversity risks and opportunities in high impact sectors

On 21 March 2019, the EU Community of Practice Finance@Biodiversity (CoP F@B) hosted its first workshop of the year at the Dutch Development Bank (FMO) in The Hague. The objective of the workshop was to explore which tools can help financial institutions identify key biodiversity risks and opportunities in high impact sectors.

The workshop started with a discussion on the financial materiality of biodiversity risks. This topic was introduced by Joris van Toor from De Nederlandsche Bank, who presented the key findings of the ‘Values at risk? Sustainability risks and goals in the Dutch financial sector’ study. Different perspectives on risks and opportunities were then explored with the objective to generate a new mapping of the sectors with high biodiversity risks and opportunities.

Four distinct tools were then explored with their developers to understand the type of decisions they can inform – see the table below for an overview of these tools. This was followed by a discussion on the level of biodiversity reporting and disclosure expected from financial institutions and the companies they invest in.

IBAT IBAT offers a ‘one-stop shop’ data search service for those seeking authoritative global biodiversity information. It brings together three key spatial data sets (the World Database of Key Biodiversity Areas, the World Database on Protected Areas and the IUCN Red List of Threatened Species) to generate Proximity Reports and Visual Data Maps presenting the localisation of high biodiversity areas across the globe.
ENCORE ENCORE enables users to visualise how the economy depends on nature and how environmental change creates risks for businesses. Starting from a business sector, ecosystem service, or natural capital asset, ENCORE can be used to start exploring natural capital risks. These risks can be explored further to understand location-specific risks with maps of natural capital assets and drivers of environmental change.
SCRIPT SCRIPT takes a data-driven approach to encouraging and supporting financial institutions to act on deforestation. SCRIPT’s objective is to help financial institutions understand and mitigate the risks associated with financing companies in soft commodity supply chains. It contains two tools, one allowing financial institutions to benchmark their policies on deforestation against their peers, and one allowing them to assess how they may be exposed to deforestation risk in their investment portfolios.
SPOTT SPOTT is an online platform supporting sustainable commodity production and trade. By tracking transparency, SPOTT incentivises the implementation of corporate best practice. It assesses commodity producers and traders on the public disclosure of their policies, operations and commitments related to environmental, social and governance (ESG) issues. SPOTT scores tropical forestry and palm oil companies annually against over 120+ sector-specific indicators to benchmark their progress over time.

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