The Chinese Belt and Road Initiative (BRI) is one of the largest regional development initiatives in the 21st century, and provides finance and technology for recipient countries’ development strategies. However, many countries receiving BRI funding are rich in biodiversity, which provides essential social and economic benefits to indigenous people and local communities. Many countries have limited institutional capacity to manage biodiversity risk from investments. China is therefore promoting a green BRI and seeks to work with international organizations and BRI countries to address the challenges of nature conservation. This working group convenes experts to develop a toolkit to mainstream biodiversity into BRI project and investment decisions.
OUR APPROACH: we will develop a toolkit to address the gaps between high-level policies and on-the-ground compliance by business and financial institutions, through analyses of China’s BRI policies and practices, biodiversity risks in BRI countries, and existing best global practices. The toolkit will be adaptable across BRI countries (where policy frameworks and biodiversity information vary significantly) to identify how different finance and development approaches can generate the best outcomes for biodiversity conservation and the well-being of local communities.
- Develop a toolkit that the finance sector and relevant companies can use to develop and deploy their biodiversity safeguards on-the-ground, and which can help them meet global standards to address biodiversity risks and the impacts of their investments
- Engage with policymakers, companies and practitioners from financial institutions to ensure the toolkit is practical and adaptable for targeted BRI stakeholders in the government, business and the finance sectors
This press release announces the launch of a Standard for Financial Institutions on Biodiversity Risks Management, a key initial input for the BRI Biodiversity Toolkit working group. The Standard provides specifics 1) to screen potential biodiversity risks along the life cycle of any project before a decision on loans or investment, and 2) to measure actions which should be supervised by financial institutions to avoid or mitigate these risks.
Renmin University of China
Wildlife Conservation Society
Wildlife Conservation Society
Shan Shui Conservation Center
Renmin University
UNESCO World Heritage Center
Chinese Society for Environmental Science
The Nature Conservancy
Agence Française de Développement
China Chamber of Commerce of Metals, Minerals and Chemicals Importers & Exporters
Wildlife Conservation Society
Wildlife Conservation Society
Chinese Ministry of Ecology and Environment