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About the Book This paper examines the track record of private financial mechanisms aimed at funding conservation of biological diversity. It finds that, due to lack of rigorous and consistent benchmarks and monitoring, these investments may not necessarily safeguard biodiversity and could even, in some cases, have adverse impacts. Further, despite decades of attempts to draw private capital to biodiversity protection, the quantum of finance remains limited, especially in the highly biodiverse countries of the Global South where it is most needed. Written for a research project established by a group of central banks and financial supervisors, this paper cautions these authorities from deploying resources towards promoting such biodiversity-focused private financial instruments. Instead, the supervisory bodies are urged to step up policy coordination to address drivers of biodiversity loss in the financial system. About the authors Jessica Dempsey and Audrey Irvine-Broque are with the University of British Columbia, Jens Christiansen is with Lund University, and Patrick Bigger is with the Climate + Community Project. CONTENTS Summary Key Insights Key Messages for Central Bankers and Financial Supervisory Bodies Endnotes Appendix A. Sample of Metrics Used in Assessing Biodiversity Impact Appendix B. Estimated Size of Private Biodiversity-Positive Investment Appendix C. Payments for Ecosystem Services and Biodiversity Outcomes References
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