The World Climate Foundation (WCF) has launched the World Biodiversity Network, a cross-sectoral, partnership-driven initiative that will support the implementation of the Global Biodiversity Framework.
Replicating its previous approach in setting up similar global networks for climate and health, the WCF aims for the new biodiversity network to help close what it says is a $4.1 trillion dollar funding gap to meet global biodiversity goals.
“The Network gathers public and private sector stakeholders from across the globe, serving as a catalyst for the necessary dialogue, partnerships, solutions, and investments to tackle biodiversity loss, facilitate ecosystem restoration, and set the world on track to achieve the 2050 Vision for Biodiversity,” its website says.
“World Biodiversity Network sets out to strengthen cross-sectoral collaboration and devise actionable methods on how to create the ambition loops necessary to accelerate finance towards solutions to the twin crises of biodiversity loss and climate change.”
WCF only announced the network on social media on Wednesday this week, though according to its website network representatives were present at the World Economic Forum in Davos last month.
Later this year it plans activities at major international events in Geneva in May, London in June, New York in September, and at the COP28 climate talks in Dubai in December.
Its list of members and partners already contains a number of corporations, governments, and international organisations, including Iberdrola, Mastercard, Nestle, the European Commission, the government of Canada, FAO, the Finance for Biodiversity Initiative, IFC, and a number of green groups.
The network aims to form a strong network of financiers and investors that can engage with well-established investment accelerators to help close the finance gap, its website says.
It will also seek to facilitate innovation in industries such as agriculture, food, and forestry to help drive technology development and deployment.
Achieving collaboration between public and private organisations and work resulting in ambitious plans, actions, and commitments are also among its priorities.
The WCF is based in Copenhagen, Denmark.
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