Results of the Finance@Biodiversity Community workshop in April on updating the Guide on biodiversity measurement approaches
In 2021, the Finance@Biodiversity Community and the Finance for Biodiversity Foundation published the Guide on biodiversity measurement approaches. On 7 April 2022, one year after the guide was launched, the F@B Community discussed what should be included in the first full update of this guide.
Guide provides an overview of six biodiversity tools
The Guide on biodiversity measurement approaches provides a comprehensive overview of the six tools for measuring biodiversity currently in use by financial institutions: CBF, BFFI, STAR, GBSFI, BIA-GBS and ENCORE. It highlights the strengths and weaknesses of each, as well as how mature each approach is. It also details the data and resource requirements needed and gives insights on which tools might be the most suitable for specific organizational ambitions, business applications and asset categories. In the 7 April workshop, F@B members shared that they use the guide mainly for identifying, comparing and choosing tools. The comparison tables in the guide are appreciated for delivering a quick and comprehensive overview.
Data, Oceans and Target setting, three speakers
During the workshop, three speakers shared their experiences with biodiversity data and target setting to inspire the discussions about the update of the guide.
- Johan Lammerant (Workstream Lead of EU B@B Platform Workstream on Methods) introduced the workstream’s new thematic report on biodiversity data.
- Marianne Haahr and François Gardin (Green Digital Finance Alliance) discussed one of the major blind spots in biodiversity measurement by financial institutions: the marine realm.
- Alexander Wiese and Jessica Smith (UNEP FI) shared insights on biodiversity target setting from UNEP FI’s report Beyond ‘Business as Usual’: Biodiversity Targets and Finance.
After each presentation, F@B members discussed in subgroups what the presented content could mean for the update of the guide.
New criteria, tools and topics
The outcome of the 7 April workshop is a list of new criteria, tools and topics to be covered in the update of the guide. This includes, for example, a criterion on the coverage of positive impacts, dedicated information on measuring marine biodiversity, and a section for each tool describing what other tools it can be combined with. Download the workshop slides.
The F@B Community finds the input very useful and will include the suggestions in the update of the guide that is expected for June 2022.