Engaging the finance sector at Climate Week NYC

When most people think of New York City, tropical forests don’t spring straight to mind. But as a major international financial centre, Wall Street needs to be at the heart of global efforts to drive real change for nature and for forests. How financial institutions act on nature impacts in their portfolios - and how they approach opportunities to protect and restore nature - can be decisive for ecosystems far away.? Global Canopy took this message to Climate Week NYC. As the urgency of the nature transition grows - including through regulatory pressures - ?our tools, including the Finance Sector Roadmap and the Deforestation Transition Pathway (DEFT) , can ensure financial institutions don’t get left behind. At the Nature Positive Hub our Finance Sector Guidance Lead, Pei Chi Wong, highlighted that financial institutions can progress on both climate and nature targets at once by acting on deforestation. “It’s easier than ever for financial institutions to play a vital part in a market-wide transition from deforestation. Once financial institutions understand their risk the focus is on engagement, which can be supported by the DEFT Pathway.”

Our Executive Director, Niki Mardas, spoke at the World Biodiversity Summit about the need to ensure discussions about nature-related risks and opportunities are joined up to each other. "Rather than focusing on shiny new opportunities while other parts of the business continue to fund colossal impacts, it's vital to do the work of understanding existing impacts and dependencies and bring them into alignment."?

More key global summits are coming down the line. The Convention on Biological Diversity conference of parties, or COP16 , begins in a few weeks in the Colombian city of Cali. Then in November, COP29 - the climate summit - takes place in Baku in Azerbaijan. Global Canopy will continue to showcase our innovations in market-leading data, metrics and frameworks at these events. Watch this space!

TNFD: Adopt for COP16

At COP16, the Taskforce on Nature-related Financial Disclosures (TNFD) will announce the next cohort of TNFD Adopters. Corporates and financial institutions are invited to signal their intent to start making nature-related disclosures aligned with the TNFD recommendations. Register your organisation’s intent to start adopting the TNFD recommendations by 11 October 2024 to be included in the next cohort of Adopters announced by the TNFD during COP16.

Register intent

Webinar on ENCORE updates Join a webinar on Wednesday 2 October to learn how to navigate the latest updates to ENCORE , a leading UN-backed tool for screening risks to natural capital. ENCORE is used by businesses and financial institutions worldwide to understand and assess their vital relationships with nature. ENCORE is a partnership between Global Canopy, UNEP FI and UNEP-WCMC.

Register here

Best wishes,

Global Canopy