New ISO ESG Implementation Principles provide int’l guidance to streamline ESG practices
New ESG Implementation Principles launched the International Organization for Standardization (ISO) at the 29th United Nations ...
World Bank launches AUD 340 m bond to back developing states for sustainable biodiversity
The World Bank launched a 10-year AUD 340 million Australian Dollar Bond while engaging with investors on the World Bank’s strategy, projects, and programs that support developing countries in the sustainable management of biodiversity and ecosystem services and integrating nature in development.
The deal was placed with asset managers, banks, bank treasuries, and official institutions in Asia. ANZ acted as lead manager for the transaction.
Biodiversity is critical to sustainable development, climate resilience, and human well-being. Animal, plant, and marine biodiversity comprise the “natural capital” that keeps our ecosystems functional and economies productive.
Half of the world’s GDP depends on biodiversity and ecosystem services which include things like fresh water and timber, carbon storage and sequestration, natural landscapes that support tourism, and soil formation. With a steep decline in natural capital in the last 50 years, at least one million species are threatened with extinction. An estimated US$700 billion/year is needed to reverse the loss of biodiversity and ecosystem services by 2030.
The World Bank is helping countries place nature at the core of development through investment in conservation, policy dialogue, analytical work, and capacity to convene partners and additional funding. World Bank projects are helping countries integrate nature-based solutions in transport and urban development, agriculture, forestry, and fisheries; and in a variety of projects like watershed management, integrated coastal management, and protected areas that maintain or enhance ecosystem services while helping countries achieve their development goals and climate change commitments.
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