DESCRIPTION OF PROJECT
Brazil and Colombia are biodiversity hotspots whose ecological wealth is at risk (IPBES, 2018). Key impact drivers include, for example, habitat fragmentation and loss. By attracting sufficient funding, promoting and establishing sustainable practices, the conservation and restoration of biodiversity can become compatible with economic prosperity.
In response, both countries have initiated sustainable finance taxonomies, which set standards for scaling up sustainable investments and should facilitate finance in this regard. In Brazil, this refers to the Brazilian Federation of Banks’ (FEBRABAN) green taxonomy. In Colombia, this refers to the taxonomy that is just in the process of development at the national level.
This research and capacity building project focuses on empowering relevant policymakers and financial market actors in the use and application of sustainable finance taxonomies in Brazil and Colombia, considering biodiversity and ecosystems. Additionally, it raises interest in the application of such taxonomies among companies from biodiversity-relevant sectors via practical examples.
Through the knowledge exchange between the target region and the EU, international cooperation will be strengthened to harmonize sustainable finance practices. The project will thus enable a post-COVID-19 recovery in harmony with nature and the achievement of international biodiversity goals.