We used working groups and partnerships as an avenue to influence the finance sector. For example, we acted as a key knowledge partner to the Banking Environment Initiative, providing guidance on best practices for the Soft Commodities Compact. The Beyond Deforestation (2021) report details how the banking industry can contribute to halting and reversing deforestation. We provided inputs to the Network of Central Banks and Supervisors for Greening the Financial System NGFS-INSPIRE study group on addressing the economic risks associated with land use change. The work informed NGFS’s Statement on Nature-Related Financial Risks (2022).
Additionally, we worked with the Good Food Finance Network (GFFN) Metrics Catalyst Group and supported the development of the reports Climate Metrics: measuring progress and catalyzing investment in sustainable food systems and and the corresponding Nature Metrics report in 2023.
We also collaborated with UNEP-FI in the context of the Good Growth Partnership (GGP). UNEP-FI was leading the GGP capacity building task for financial institutions and TRADE Hub funding was used to engage with GGP partners and central banks in GGP countries, including Brazil and Indonesia, to deliver training to banks on deforestation and nature-related risk. We also engaged with the Forest Finance Risk Consortium (FFRC) that is coordinated by World Business Council of Sustainable Development (WBCSD) and funded by the USAID. Through this collaboration, we supported the development of Deforestation-free finance: a guide on tools and frameworks for financial institutions (2023).