"The scientific community has long been unequivocal about biodiversity
destruction. Last month, the UN reported that the world had failed to
meet fully any of the 2020 Aichi bioiversity targets that countries
agreed with fanfare in 2010, even as it found that biodiversity is
declining at an unprecedented rate, and the pressures driving this
decline are intensifying.
This week’s Bankrolling Extinction report finds that financial
institutions provide the capital that is funding over-exploitation of
our lands and seas, putting biodiversity in freefall. Last year, the
world’s 50 biggest banks provided $2.6tn (£1.9tn) in loans and other
credit to sectors with a high impact on biodiversity, such as forestry
and agriculture. Bank by bank, the report authors found a cavalier
ignorance of – or indifference to – the implications, with the vast
majority unaware of their impact on biodiversity.
In short, this report is a frightening statement of the status quo.
Fortunately, signs are emerging that some governments are – slowly –
taking aim at financial backers of the destruction of the natural world.
They must now push more forcefully. In the wake of Covid-19, treasury
cupboards may be bare, but with new policies and limited recovery funds,
they can steer trillions of dollars of private capital towards a
nature-positive response to coronavirus, to spur growth, prosperity and
resilience without returning to business as usual over-consumption and
climate and biodiversity risk."
*** Xanni ***
Chief Scientist, Xanadu
Partner, Glass Wings
Manager, Serious Cybernetics