In brief
The NGFS, the network of central banks and supervisors, has published its declaration for the UN Biodiversity Conference (CBD COP17) in Armenia. It argues that biodiversity loss and ecosystem degradation carry growing macroeconomic and financial consequences, and that nature-related considerations belong in financial risk assessment.
Alongside it, the NGFS released a Compendium on implementing its Conceptual Framework, drawing on fifteen member jurisdictions and six country case studies. It is also launching a Nature-Economy Model Intercomparison Project to test how nature scenarios could be modelled.
The NGFS embraces this shift from commitment to implementation, within the mandates of central banks and supervisors and consistent with national circumstances.
NGFS Declaration for CBD COP17
