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The Agence Française de Développement (AFD Group) and the Office of Natural Resources and Environmental Policy and Planning (ONEP), in collaboration with Thailand Environment Institute (TEI), Blue Renaissance (BR), UN Global Compact Network Thailand (GCNT) and numerous partners from the private and financial sectors, development partners, think tanks and civil society are aiming to contribute to bridgeFinance, private sector and Biodiversity through the Fin4Bio (Finance for Biodiversity) initiative and Forum.
Since May 2023, the Fin4Bio initiative has engaged into a public policy dialogue mobilizing key actors in policy, finance, and private sector in Thailand through large consultations, information and experience sharing and identifications of best practices and lessons learnt to mitigate risks and enhance opportunities. Three coregroup and two stakeholders meetings gathered more than 50 public and private organisations including banking sector actors who contributed to the identification of 6 concrete transformative recommendations and the gathering of more than 150 people for the FIN4BIO Forum, held in Bangkok on the 19th of February, 2024.
The forum included showcased joint support for symbolic suggestions from interested parties, presentations, and discussions from Thai and international experts aiming to achieve sustainability and preparation for the 16th Conference of the Parties to the Convention on Biological Diversity (CBD COP 16). Introducing the discussions, the co-organizers were honored to welcome the words from Jiravat Ratisoontorn, Deputy Secretary General of ONEP, from His Excellency Mr. Jean-Claude Poimboeuf, Ambassador of France to Thailand, from Dr. Felipe Paullier Olivera, United Nations Assistant Secretary-General for Youth Affairs, and Mrs. Mathilde Bord-Laurans, Head of Unit - Climate and Nature at AFD.
Following these insightful sharings, the conference unfolded to focus on key topics related to bridging the gap between biodiversity conservation and business with impactful presentations , notably by Global Compact Network Thailand (GCNT), Office of the National Economic and Social Development Council (NESDC), Banque de France (BdF), Asian Development Bank (ADB),United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) And the Thailand International Cooperation Agency(TICA) on:
- Biodiversity and Nature positive bio-circular green economy for sustainable business development
- Opportunities and risks from nature that financial sector and corporates should address
- Sharing experiences - linking finance and biodiversity diversity, from case studies in Thailand and abroad
- Promoting guidelines for a Nature-Positive economy for private and financial sectors in Thailand
Furthermore, The Forum welcomed the announcement of a joint recommendation supported by more than 30 partners acting on regulation, finance, private sector and civil society to pave the way towards biodiversity mainstreaming, nature positive economy. These recommendations comprises of:
- 1. Welcome the development of a Biodiversity Taxonomy as a reference tool for nature-friendly activities in alignment with biodiversity mainstreaming
- 2. Promote assessment and disclosure of business risks, dependencies and impacts on biodiversity to be used as a reporting framework for businesses to gain a better understanding of nature related dependencies and impacts of their operations
- 3. Support the introduction of incentives and financial mechanisms that can contribute to increasing positive impacts on biodiversity
- 4. Ensure that the biodiversity-related data, information, knowledge and capacity-building are available and accessible to all stakeholders to support their actions towards a Nature Positive Economy;
- 5. Promote actions to reduce biodiversity losses, support ecosystem restoration, and promote sustainable management of biodiversity;
- 6. Collaborate with businesses and financial institutions to raise awareness about the importance of biodiversity to promote sustainable use of biodiversity as well as the context and commitment of the Kunming-Montreal Global Biodiversity Framework in Thailand and Southeast Asia Region.
The Bangkok Fin4Bio Policy Dialogue and Forum could be seen as a step forward for an enabling environment for the financial and private sectors towards the implementation of the NBSAP. It could also offer a foundation for a communication at the next 16th Conference of the Parties to the Convention on Biological Diversity (CBD COP 16)
Contact and information:
Jean-Edouard Naslin - Regional Communication for South-East Asia - naslinje@afd.fr
Suwida Kingmuangkow - Senior Investment Officier – AFD Bangkok kingmuangkows@afd.fr