The World Climate Fund (WCF) has launched the World Biodiversity Network, a cross-sectoral, partnership-driven initiative that will support the implementation of the Global Biodiversity Framework.
Replicating the approach of previous similar global climate and health networks, the WCF aims for the new biodiversity network to help close what it says is a $4.1 trillion funding gap to meet global biodiversity goals.
“The network brings together public and private sector stakeholders from around the globe to act as a catalyst for the dialogue, partnerships, solutions and investments needed to tackle biodiversity loss, foster ecosystem restoration, and set the world on track to achieve the 2050 Vision for Orbit Biodiversity,” its website says.
“The World Biodiversity Network set out to strengthen cross-sectoral collaboration and develop actionable ways to build the cycle of ambition necessary to accelerate funding to address the twin crises of biodiversity loss and climate change.”
The WCF only announced the network on social media on Wednesday, although according to its website, network representatives attended the World Economic Forum in Davos last month.
Later this year, it plans major international events at the COP28 climate talks in Geneva in May, London in June, New York in September and Dubai in December.
Its list of members and partners already includes many companies, governments and international organizations, including Iberdrola, Mastercard, Nestlé, the European Commission, the Government of Canada, the Food and Agriculture Organization, the Biodiversity Finance Initiative, the International Finance Corporation and several groups of green organisations.
The network aims to form a strong network of financiers and investors who can partner with established investment accelerators to help close the funding gap, according to the network’s website.
It will also seek to foster innovation in industries such as agriculture, food and forestry to help drive technology development and deployment.
Achieving cooperation between public and private organizations and the development of ambitious plans, actions and commitments are also among its priorities.
WCF is headquartered in Copenhagen, Denmark.
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