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Upholding Banks' Biodiversity Responsibilities
May 2024
This month’s newsletter comes to you appropriately nestled between International Mother Earth Day and International Day for Biological Diversity; three years into the United Nations Decade on Ecosystem Restoration, and six months ahead of the 16th Conference of the Parties for the UN Convention on Biological Diversity. Policy Associate Greg Berry helps us dive deep into the data revealing the need to support accountability ecosystems for nature-positive development impacts. Explore the barriers that impede communities from holding banks accountable for their biodiversity impacts, as well as the obstacles that Indigenous Peoples and community stakeholders have faced to assert their rights as banks have endeavored to protect and restore biodiversity. Cheers to inclusive, participatory, and accountable development for our planet!
Research: Upholding Banks' Biodiversity Responsibilities
By Gregory Berry — May 7, 2024
Accountability Spotlight
Noteworthy updates on Bank and IAM policy and practice
Impact Performance Norms Launched
Impact Frontiers has released its finalized version of Impact Performance Reporting Norms, intended for asset managers in private markets. Featured norms include expectations to manage and disclose negative environmental and social impacts with intentionality, including by establishing fund- or firm-level accountability mechanisms to monitor and verify the impact risk and performance of investees and engage with them to address unexpected events related to impact.
United States’ National Action Plan on Responsible Business Conduct Commits to Important Updates to the U.S. National Contact Point
As committed to by the NAP, the US NCP mandated to receive complaints concerning the harmful environmental and social impacts of multinational enterprises will pursue actions and policies to improve stakeholder engagement and outreach, disclosure, reprisal management, and capacity to facilitate remedy for harm.