Building back biodiversity
Monday 22 May 2023
May 22nd marks the International Day for Biological Diversity. Banks are playing an increasingly prominent role in incentivising, mitigating, and preventing the major drivers of biodiversity loss. At UniCredit we are committed to protecting and preserving natural capital thanks to various initiatives and pledges to help shape a better future.
The United Nations has proclaimed May 22 the International Day for Biological Diversity (IDB) to increase understanding and awareness of biodiversity issues.
Since its inception thirty years ago, the IDB has gained global prominence through the efforts of the United Nations, governments, indigenous peoples and local communities, non-governmental organizations and concerned individuals, with each highlighting their innovative solutions to the biodiversity crisis and enhancing global discourse around sustainable development.
So, what is our bank doing on this front?
Last December, we became the first Italian bank to sign up to the Finance for Biodiversity Pledge (FfB), another fundamental step in our net zero journey – demonstrating our continued commitment to driving the transition towards a more sustainable future.
The FfB Pledge members jointly call for and commit to taking ambitious action on biodiversity to reverse nature loss over the next decade, achieving this through collaboration, engagement with relevant counterparts, such as other banks, asset management, funds and foundations, and the assessment of their own biodiversity impact.
Moreover, we joined the FfB Foundation as a collaborating member, with the aim of actively shaping the debate in the working groups related to the principal tenets of the Pledge. To the same end, we have also focused on insourcing the knowledge to progress with our journey by assessing targets, dependencies and impacts when it comes to biodiversity, before reacting with concrete solutions on the market.
We also take part to the UNEP FI Principles for Responsible Banking Biodiversity community, contributing to the discussions around assessing targets and actions with a view to preserving natural capital in the banking sector.
For more information on how we are keeping ESG at the very core of our bank, please visit the microsite dedicated to our 2022 Integrated Report, with additional colour around our efforts to protect Natural Capital available here.