At UNFCCC COP26 in Glasgow ten Multilateral Development Banks signed a Joint Statement on Nature, People and Planet, recognizing that tackling global poverty, climate change, and the drivers of nature and biodiversity loss are inextricably linked and affirming their commitment to further mainstream nature into their policies, analysis, investments, and operations – including through scaling up nature positive investments, fostering national and regional level synergies, and valuing nature to guide decision making.

This side event will discuss progress with implementation of the Joint Statement across MDBs, emphasizing MDB actions that are supporting progress towards the goals and targets of the Kunming-Montreal Global Biodiversity Framework. The event will profile key developments of MDBs in defining and tracking nature finance (as outlined in the MDB Common Principles for Tracking Nature Positive Finance), introduce new collaborative work to complete a stocktake of existing key performance indicators for biodiversity that can be used as metrics for financial products, and discuss approaches and opportunities to value and integrate nature in economic planning and decision making.

In 2023, MDBs created a Working Group on Nature to share knowledge and lessons and coordinate efforts on select areas related to the Joint Statement. Panelists at this event will include the appointed Nature Heads of participating MDBs (Asian Development Bank, African Development Bank, Asian Infrastructure Investment Bank, Caribbean Development Bank, European Bank for Reconstruction and Development, European Investment Bank, Inter-American Development Bank, IDB Invest, Islamic Development Bank, and World Bank Group), with reflections from countries on the role of MDBs and financial flows for the GBF.