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Hi. 
I'm Helen Avery with the green 

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Finance Institute and you're 
listening to our cop15. 

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Special series of financing 
nature in partnership with the 

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United Nations environment 
program in this episode. 

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Live from Montreal, I speak to 
stakeholders across the business

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finance and environmental sector
to hear how the negotiations are

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going and what their kiosks are.
Welcome everyone from Montreal, 

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where it got 15. 
And there are thousands of 

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people here in Montreal for the 
convention on biodiversity and 

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I've heard perhaps even as many 
as 20,000. 

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But we also know that there are 
many You who can't make the 

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conference, or maybe you're 
choosing to spare. 

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The carbon footprint and stay at
home. 

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So we wanted to bring cop15 to 
you and fill you in on, who's 

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here, what they're saying, how 
the negotiations are going and 

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what are the key topics emerging
here? 

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And also just to let you know 
that you're very much here in 

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spirit. 
But before we hear from several 

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different people, we wanted to 
set the scene a little for you. 

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Give you a bit of flavor and 
color. 

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Got 15 is taking place in an 
enormous Convention, Center 

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called Le Palais. 
Des congrès on the Ground floor,

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there's vast security, and cafes
and shops meeting areas. 

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There's music in the evening. 
There's art and National 

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Geographic has an immersive 
experience where you can go. 

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She's very large room, and 
envelop yourself and stunning 

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imagery and videos of nature 
with music. 

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Then on the second floor, and 
the fifth, there are 

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negotiations taking place. 
So that's 196 countries from 

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around the world, negotiating on
the wording of the global. 

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Biodiversity framework sometimes
called g.b.f., and its goals. 

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And it's targets. 
So some of the negotiations 

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begin really early in the 
morning and don't end up 

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finishing until very, very late 
at night and some our own going 

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day after day in some of those 
sessions you can sit in and 

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observe the country's toing and 
froing on exact wordings. 

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Then around those negotiations, 
there are multiple rooms again 

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where there are other meetings 
taking place, there are vents 

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panels. 
There are exhibition Halls 

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actually with many ngos and 
countries and sectors, and huge 

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stands represented there and 
they're all here. 

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Are to influence and support the
negotiations. 

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And I'm hearing that this is 
really a first for a 

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biodiversity convention, 
typically, its scientists and 

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the negotiators are here. 
So it's quite overwhelming for 

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many of these people to see such
interest. 

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Now, in nature, and for the most
part, there's a lot of 

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camaraderie. 
Here is the ngos and business 

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and finance are here with this 
one, aim of halting and 

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reversing biodiversity loss, 
this decade. 

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And it's not just about what's 
happening inside the Palais, Des

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congrès, there are also multiple
events taking place in various 

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hotels and Says restaurants 
throughout Old Montreal and 

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downtown. 
So hopefully that's given you a 

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bit of color and you can imagine
yourselves here with this, a 

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reminder that this framework is 
absolutely critical. 

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The last set of targets, the HG 
targets were set in 2010 and 

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have been missed. 
We've been reminded often this 

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week of that fact. 
So we need ambitious targets 

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that lead to practical outcomes 
to come from the g.b.f. that 

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will move us through till 2013. 
We really need those agreements 

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done and of course we covered 
some of this. 

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In our last episode with 
Elizabeth Maremma, executive 

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secretary of the CBD and 
information officer David 

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Ainsworth. 
So how the negotiations going? 

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Well, we've heard that the head 
of the directorate general for 

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the environment at the European 
commission, described the 

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negotiations, to getting off to 
a wobbly start, but that the 

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delegates are now coming 
together. 

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Those tear a little split on the
success of the framework. 

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Still we need that specific 
wording agreed so that the 

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targets are ambitious and we can
sure countability another say if

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the wording It's an agreement 
getting done. 

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Let's not worry about the 
details, should perfect be the 

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enemy of the good and there's a 
fine line to walk obviously 

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here. 
And there are certain wordings 

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that are really important and 
we'll hear about those in a 

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moment because to share their 
insights on the negotiations and

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those all-important wordings. 
And if and give you a feel for 

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What's Happening Here in 
Montreal, we've spoken to 

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representatives from Nestle and 
Schroeder's Finance for 

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biodiversity Foundation 
Federated Hermes. 

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Unep fitn FD the You bcsd, Nat 
cap, research, and also in Geo 

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jungle Keepers. 
There are lots of financing 

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Nature's former guest Eric 
cop15, which has been wonderful 

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to see. 
And there will also be some 

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familiar voices in this episode 
for you. 

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I'm sure. 
So really looking forward to 

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sharing those with you. 
And obviously, this will be a 

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longer episode than normal. 
So we can bring you as many 

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voices as much information as we
can, and I can't promise it's 

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going to be the highest quality 
audio Rivera done as I'm using 

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the tiniest Mike I've ever seen.
But I'm hopeful that that will 

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just add to the Authenticity and
and for an even more authentic 

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experience of got 15 while 
listening, I would recommend 

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you, recommend you grab yourself
a croissant and maybe drink for 

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five potentially six cups of 
coffee. 

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There's no passing in 0. 
Doesn't address deforestation. 

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And there's no path to Net Zero.
It does not support nature 

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Positive Solutions. 
But argue, we can leverage these

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enormous flows of finance that 
are being dedicated towards net 

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zero as part of part of the way 
to address the crisis and 

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biodiversity in nature and not 
least because nature and climate

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change or interdependent. 
So that was more Connie 

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referring to the T and f d in 
his opening remarks at Finance 

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day. 
And so the teen FDA has had an 

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incredible reception here in 
Montreal, the climate ambassador

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of Canada Katharine Stewart, 
shared her government support 14

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FD in opening statements, the 
World by diversity Summit. 

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That also took place here this 
week and manual favor chair of 

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the international 
sustainability's Standards 

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Board, the ISS be signaled. 
The intention of the Isis be to 

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draw on the tnf Dee's nature 
related. 

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Management and disclosure 
approach as it emerges alongside

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the development of ISS bees work
and it's hard to be in any 

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meeting actually or any panel 
without the TFT coming up and 

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the Teen of D teams all here. 
Obviously, co-chair of the tnf D

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is executive secretary of the 
CBD Elizabeth Aroma. 

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She's obviously here alongside 
co-chair the tfd David Craig and

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the whole rest of the team and I
was able to catch up with James 

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dash, co-chair of the data 
Catalyst for the teen FD, to 

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share with us what the team has.
Been doing here and what they're

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hoping for out of comp. 
At so, James. 

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It's so good to see you. 
It's been a really big week for 

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the 10ft. 
Yeah. 

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Thanks. 
Thanks, Helen. 

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It has been really exciting and 
encouraging to see so many 

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people supporting the teen ft. 
But our key Focus has been the 

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data lab sessions of which we 
have holding eight across four 

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days on a thematic basis. 
Each session is 100 people and 

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we've got turning 50 people 
online plus so you know really 

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well attended. 
We've got a few other sessions 

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just doing a breakdown of where 
we are with the cars to the 

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framework. 
People get an understanding of 

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that development and that's what
we'll be looking to focus on for

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the rest, the week as well. 
And on the data side obviously 

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is key and that's probably the 
piece that if one wants to talk 

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about. 
As they are thinking about how 

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they're going to start adopting 
the framework or testing out any

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sort of challenges that have 
come out of what you've seen so 

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far or key themes. 
Yeah. 

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It's really interesting. 
So there's a lot of opportunity 

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here, right. 
And it's great to see so many 

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people looking to engage on that
kind of basis and the key word 

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I'd use Here is, is how how do 
we engage? 

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How can we adopt the framework? 
And that was one of the one of 

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the target objectives of these 
data lab sessions, is to enable 

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people to understand a context 
providing, you know, data 

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provided understanding. 
What data users would look for 

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and vice versa. 
But also enabling those dues 

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those companies and financial 
institutions to say, okay, how 

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do we best engage or how can we 
adopt the framework in a way 

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that is suitable? 
When we launched the framework 

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in September 2023? 
We can have the broadest 

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adoption in the shortest time 
frame possible whilst being 

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scientifically credible. 
Then we'll be in a great place, 

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but ultimately, to do that, we 
need to ensure that people are 

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comfortable with the, with the 
data that is and based on the 

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feedback that you get this week 
from, because there's a very 

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practical sessions as well. 
As not just a panel, there's 

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sort of talking afterwards 
between of peer-to-peer on their

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learnings, we be sharing any of 
that back. 

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So you can sort of get out and 
have others, learn from it. 

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Absolutely, you know, the The 
whole point of this is a 

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learning process, right? 
So the more we share the more 

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feedback we can get those 
helpful for everybody. 

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So we will be distilling all the
many points that were raised 

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session with recessions morning 
and all the other ones and that 

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will be published online in a 
way that hopefully give everyone

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a bit of context. 
And so just finally, when I 

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still have you tell us what are 
some of the key messages that 

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the 10ft team are Keen to get 
across to the negotiators during

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the conference. 
So I guess. 

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The focus around that was 
obviously around Target 15, 

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right? 
And I think the, the key point 

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there is, you know, we've seen 
the framework is playing a 

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really key operate 
operationalizing role in that, 

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and I think the focus and 
unsanitary is, is on impact of 

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nature, but we want to emphasize
as well, the real importance, 

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that business and finance 
dependencies on nature are just 

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as important, okay? 
There's obviously clear 

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references to risks, Etra. 
But we want to incentivize 

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broader Market participation. 
That is that is what it is out 

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of me, all about brilliant. 
So looking for wording around 

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dependencies in addition to 
impacts in that all important, 

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Target 15, what? 
James, thank you so much for 

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your time today and good luck 
with the rest of the week. 

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Thank you very much pleasure. 
So staying on this topic of 

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data, which everyone's talking 
about, you know, is the date of 

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the issue, is Tater a challenge.
And I had the pleasure of 

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meeting with CEO of netcat 
research. 

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Sebastian leap will said one of 
the messages that were getting 

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here at court 15. 
Is that if anyone tells you that

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we can't be ambitious on targets
because we don't have the data 

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that would be completely 
incorrect. 

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What are your thoughts on that 
point? 

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We've been locked up over the 
road the humanity out of us, you

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days? 
The tnf D-Day to cast of 

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sessions. 
And I've been really excited by 

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the range of data sources that 
we're hearing coming through. 

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I think we have enough at the 
modeled data space with Encore 

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and some of the spt N tools to 
have a decent sense of what's 

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happening at the sector region 
levels for a company's portfolio

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or supply chain. 
We have lots of advice and 

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observational data and that's 
when that cat research has 

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really been focused and we've 
brought to Market, a sort of 

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going to carbon model at 5 meter
resolution. 

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We develop innovative as for 
modern and connectivity and 

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more. 
So there's some really exciting 

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progress being made there and 
then there's equally exciting 

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progress being made at the field
data collection space with a DNA

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and bioacoustics getting a lot 
of traction. 

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So the data is there, the 
question is not, is it 

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available? 
It's how you use it and how do 

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you ingest it away? 
This decision, ready? 

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So you know, just to confirm, 
we're not saying there aren't 

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challenges. 
In fact, there are some specific

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challenges, some were happy 
mentioned in some of the data 

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Labs routine FDA. 
Do you want to just give us a 

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brief Lowdown on what you've 
heard? 

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Yeah, absolutely. 
So there's been a few Teams of 

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come up from these sessions. 
I think one is that we already 

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know the location of company & 
Financial Services assets is 

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crucial here and we just have to
find a way to standardize the 

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collection of shapefiles. 
We don't just have addresses of 

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Farms or factories that we know 
specifically the land on which 

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they are operating. 
So, that's one big thing. 

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I think there's another Point 
here on the scope when we're 

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thinking about impact 
evaluation, what is the scope of

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that assessment. 
When you build a dam, how many 

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kilometers up or down stream? 
Are you actually going to Look 

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when you're investigating, what 
impact that damn has had. 

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And that's, that's a sort of 
standard that remained to be 

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defined. 
I think there's ocean 

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interesting point. 
We were just discussing this 

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morning on on the temporal 
variation that comes about with 

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biodiversity data. 
So, depending on what time of 

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day or time of the year, you 
investigate a site will make a 

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big difference in terms of what 
you find is. 

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How do we standardize and 
overcome that temporal 

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variation. 
So lots to Think Through lots of

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Standards have to be set and 
lots of gaps have to be filled 

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but But we have more than enough
to get started and I know we've 

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talked about for there's also 
some gaps, still and models that

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need to be filled in. 
Yes, there are quite a few 

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ecosystem Services where we just
have gaps. 

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And I think the biggest one 
that's been coming out is 

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pollination, and that's 
something we've been really 

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focused on it. 
And that cap research, we've 

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launched last year, our GB 
pollination model that we're 

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proud of, and have been refining
that to bring it globally, just 

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wrapping up. 
What are your hopes or concerns 

253
00:13:19,000 --> 00:13:21,700
for cop15? 
We've got a few days left of 

254
00:13:21,700 --> 00:13:23,500
negotiations. 
What are you thinking? 

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00:13:24,000 --> 00:13:26,500
So I put my head in yesterday 
into the plenary that was 

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00:13:26,500 --> 00:13:29,300
negotiating. 
The text and hats off to them 

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00:13:29,300 --> 00:13:31,000
and looks like a very painful 
process. 

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00:13:31,700 --> 00:13:34,400
I hope that they get to a point 
where we have specific 

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00:13:35,000 --> 00:13:39,100
measurable actionable targets 
that we can easily measure using

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00:13:39,100 --> 00:13:42,500
the data we've just discussed 
today and and hold our companies

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00:13:42,500 --> 00:13:44,300
governments and leaders to 
account on. 

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And I hope we don't lose spirit 
and water them down because the 

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00:13:48,600 --> 00:13:50,500
specificity of this targets is 
critical. 

264
00:13:59,900 --> 00:14:02,700
When it's /, C Foundation was 
set up in March last year to 

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bring together the finance 
sector to work on reversing 

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00:14:05,800 --> 00:14:09,500
nature lost this decade. 
And 111 financial institutions 

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00:14:09,500 --> 00:14:12,100
have signed at the finance for 
biodiversity pledge. 

268
00:14:12,300 --> 00:14:15,100
That group has been working on 
what the finance sector needs to

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00:14:15,100 --> 00:14:18,500
see from the negotiations and 
the wording specifically on 

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00:14:18,500 --> 00:14:22,900
Goldie and targets, 14 and 15 in
order for us to be able to put 

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00:14:23,200 --> 00:14:25,100
Global Capital to work, you may 
remember. 

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00:14:25,200 --> 00:14:28,500
Member ssanyal Lichtman 
Federated Hermes who joined us 

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00:14:28,500 --> 00:14:32,400
on the podcast earlier this 
year, she co-chairs the public 

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00:14:32,400 --> 00:14:34,900
policy advocacy working group 
for the finance, for 

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00:14:34,900 --> 00:14:38,700
biodiversity foundation. 
So I was very lucky to catch up 

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00:14:38,700 --> 00:14:42,200
with both Sonia and Anita to 
Halt, co-founder of the finance 

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00:14:42,200 --> 00:14:45,700
for biodiversity Foundation to 
hear more about the specific 

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00:14:45,700 --> 00:14:47,500
wording. 
They are hoping for how the 

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00:14:47,500 --> 00:14:50,900
negotiations seem to be going 
and also the launch of nature 

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00:14:50,900 --> 00:14:55,800
action, 100, Anita and Sonia. 
Thank you so much for Joining us

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00:14:55,800 --> 00:14:59,300
today a busy day in the midst of
the business and finance days 

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00:14:59,300 --> 00:15:01,500
of, of course. 
And of course, finite state is 

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00:15:01,500 --> 00:15:04,700
being jointly organised by the 
finance for biodiversity 

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00:15:04,700 --> 00:15:06,900
foundation. 
So coming to you first, then 

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00:15:06,900 --> 00:15:10,600
Anita has the presence of the 
financial institutions here, 

286
00:15:10,600 --> 00:15:14,500
been in line with expectations. 
And how does it compare to other

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00:15:14,600 --> 00:15:17,200
biodiversity cops? 
Yes, even more. 

288
00:15:17,800 --> 00:15:20,900
It's incredible. 
How many financial institutions 

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00:15:20,900 --> 00:15:25,000
are present here in Montreal 
with the delegation of 26 fine. 

290
00:15:25,200 --> 00:15:28,500
Financial institutions on behalf
of Finance, for biodiversity 

291
00:15:28,500 --> 00:15:31,300
Foundation, but they're even 
more investors here. 

292
00:15:31,300 --> 00:15:35,600
I think a couple of hundreds, 
which is amazing knowing that 

293
00:15:35,700 --> 00:15:39,800
this is the first CBD cop in 
which financial institutions, 

294
00:15:39,800 --> 00:15:44,500
and also businesses are united. 
And to join here to tell 

295
00:15:44,500 --> 00:15:48,200
governments to make a stand, 
that we need a clear and 

296
00:15:48,200 --> 00:15:50,400
ambitious, Global. 
Biodiversity framework. 

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00:15:50,800 --> 00:15:52,600
I mean certainly isn't I've only
been here a couple days, but it 

298
00:15:52,600 --> 00:15:54,800
does seem like there are. 
There's an incredible turnout. 

299
00:15:54,800 --> 00:15:58,700
So It's very heartening and so 
let's talk about what the asks 

300
00:15:58,700 --> 00:16:02,200
are from the finance, 
biodiversity foundation and and 

301
00:16:02,200 --> 00:16:04,900
the pledge and this cop 15 suits
on your you. 

302
00:16:04,900 --> 00:16:07,700
And I talked about this on the 
podcast, at the beginning of the

303
00:16:07,700 --> 00:16:10,700
year and exciting that, you 
know, now here we are. 

304
00:16:11,000 --> 00:16:13,900
So there are more than I think 
111. 

305
00:16:13,900 --> 00:16:18,700
Financial institutions that have
signed up to the pledge and 

306
00:16:18,700 --> 00:16:21,400
there's some very specific 
wording that's being asked for 

307
00:16:21,400 --> 00:16:23,700
out of the global biodiversity 
framework and the targets. 

308
00:16:24,000 --> 00:16:27,000
So I wonder if you could Just 
talk us through what those are 

309
00:16:27,700 --> 00:16:30,600
absolutely good to see you. 
Again, Helen the finance for 

310
00:16:30,600 --> 00:16:34,100
biodiversity Foundation became 
an observer to the convention on

311
00:16:34,100 --> 00:16:37,100
biological diversity over a year
and a half ago now. 

312
00:16:37,200 --> 00:16:39,600
So we've been following the 
development of the framework and

313
00:16:39,600 --> 00:16:42,600
contributing as much as possible
throughout the different working

314
00:16:42,600 --> 00:16:45,800
groups and we were on the ground
in Geneva and had colleagues on 

315
00:16:45,800 --> 00:16:49,300
the ground in Nairobi. 
And now here we are at cop, as 

316
00:16:49,300 --> 00:16:53,200
you say, it's great to be here. 
We focused on three specific 

317
00:16:53,300 --> 00:16:57,200
areas on Goldie, It was all 
about resource mobilization. 

318
00:16:57,200 --> 00:16:59,800
Of course, we do need more 
funding for nature, but we 

319
00:16:59,800 --> 00:17:03,100
introduced language there about 
the alignment of public and 

320
00:17:03,100 --> 00:17:05,900
private Financial flows, which 
is absolutely critical. 

321
00:17:06,099 --> 00:17:08,599
Because, as well as increasing 
public and private funds for 

322
00:17:08,599 --> 00:17:12,700
nature, we need to sort out all 
of the negative Financial flows 

323
00:17:12,700 --> 00:17:14,400
that are currently harming 
biodiversity. 

324
00:17:14,500 --> 00:17:17,099
And then the other areas we 
focused on our Target, 14 and 

325
00:17:17,099 --> 00:17:20,700
15, Target 14. 
Again, emphasizes this point 

326
00:17:20,700 --> 00:17:23,900
about the alignment of public 
and private Financial flows and 

327
00:17:23,900 --> 00:17:27,500
then Target 15, Is all about 
disclosure of impacts and 

328
00:17:27,500 --> 00:17:30,500
dependencies which we all know 
we need businesses to do it. 

329
00:17:30,500 --> 00:17:33,300
Especially large businesses with
significant impacts on 

330
00:17:33,300 --> 00:17:37,600
biodiversity and that will allow
us as financial institutions to 

331
00:17:37,600 --> 00:17:40,800
address our own biodiversity 
impacts and dependencies and 

332
00:17:40,800 --> 00:17:44,400
Tessa and we actually heard from
James death, 18ft earlier about 

333
00:17:44,400 --> 00:17:47,100
that. 
Need for dependencies that word 

334
00:17:47,100 --> 00:17:50,200
being in there in addition to 
impacts so need to coming to 

335
00:17:50,200 --> 00:17:51,900
you. 
How hopeful are you, you've been

336
00:17:51,900 --> 00:17:54,300
there, you're observing the 
negotiations as they take place.

337
00:17:54,300 --> 00:17:57,200
That's very exciting. 
And how hopeful are you that we 

338
00:17:57,300 --> 00:17:59,000
will get this wording that we're
looking for. 

339
00:17:59,400 --> 00:18:03,200
Yeah, we're always hopeful. 
And we know with cops in history

340
00:18:03,200 --> 00:18:06,900
that that it's always the end. 
Hey, you never know what happens

341
00:18:06,900 --> 00:18:09,900
in the end that was also in the 
Paris agreement. 

342
00:18:10,300 --> 00:18:13,100
It was in the last few days that
article 21. 

343
00:18:13,100 --> 00:18:17,800
See that made a really impact on
the finance sector that got in 

344
00:18:17,800 --> 00:18:20,000
this text. 
So, we're very hopeful, of 

345
00:18:20,000 --> 00:18:25,000
course, that like Sonia, explain
Goldie Target 14 and 15 are 

346
00:18:25,100 --> 00:18:28,000
Points. 
We'll stick however, yeah, it's 

347
00:18:28,000 --> 00:18:30,100
very slow. 
The negotiations. 

348
00:18:30,100 --> 00:18:33,000
We hear, there are some 
countries that are against 

349
00:18:33,000 --> 00:18:37,800
private sector involvement. 
So we really doing our utmost at

350
00:18:37,800 --> 00:18:41,200
the moment to try to help the 
negotiations. 

351
00:18:41,500 --> 00:18:45,500
Also, under the big point of 
resource mobilization more 

352
00:18:45,500 --> 00:18:49,100
funding for nature. 
So we're ready to say, we really

353
00:18:49,100 --> 00:18:54,200
want the reducing harmful 
Financial flows but we're also 

354
00:18:54,200 --> 00:18:58,500
here to say, Yeah, the private 
sector can also be a solution. 

355
00:18:58,800 --> 00:19:01,700
It's just it is wonderful to see
the private sector. 

356
00:19:01,700 --> 00:19:05,300
Really get behind nature and how
fast that's move in just a 

357
00:19:05,308 --> 00:19:08,600
couple of years and of course we
have the make it mandatory 

358
00:19:08,600 --> 00:19:12,500
campaign from business for 
nature that's also in full force

359
00:19:12,500 --> 00:19:14,100
here. 
We're hearing that echoed in a 

360
00:19:14,100 --> 00:19:17,500
lot of the panels and lot of the
discussions and that's something

361
00:19:17,500 --> 00:19:20,600
also, the finance sector is 
getting behind I presume. 

362
00:19:21,100 --> 00:19:24,000
Absolutely it's one was in our 
position paper since the 

363
00:19:24,000 --> 00:19:26,000
beginning. 
We wrote Out three position 

364
00:19:26,000 --> 00:19:29,700
papers with public policy 
working group in which Sonya is 

365
00:19:29,800 --> 00:19:33,300
co-chairing together with Emily 
is ill from store brand asset 

366
00:19:33,300 --> 00:19:35,700
management. 
And this was one of the first 

367
00:19:35,700 --> 00:19:39,000
point. 
We adopted make it mandatory 

368
00:19:39,200 --> 00:19:43,100
mandatory disclosure and impact 
assessment is crucial because if

369
00:19:43,100 --> 00:19:46,500
companies disclose their impact 
and dependencies are nature, 

370
00:19:46,900 --> 00:19:50,100
they can also align their 
financial flows and their 

371
00:19:50,100 --> 00:19:54,100
portfolios knowing which sectors
are harmful. 

372
00:19:54,500 --> 00:19:57,400
And How they can reduce these 
harmful flow. 

373
00:19:57,400 --> 00:19:59,400
So it's essential that 
companies. 

374
00:19:59,400 --> 00:20:03,000
But also financial institutions 
disclose their impact and 

375
00:20:03,000 --> 00:20:05,400
dependencies on nature. 
Well, let's keep the fingers 

376
00:20:05,400 --> 00:20:09,400
crossed for that wording and so 
just, finally, you've had an 

377
00:20:09,400 --> 00:20:12,900
announcement this week, so we 
great to hear more about that. 

378
00:20:12,900 --> 00:20:16,000
And let me see if I've got this 
right, nature action, 100. 

379
00:20:16,000 --> 00:20:17,600
So you can, you tell us a bit 
more about that? 

380
00:20:17,900 --> 00:20:20,700
Yes, of course. 
So it was the soft launch of 

381
00:20:20,700 --> 00:20:24,700
nature action, 100 on Sunday and
this is a collaborative. 

382
00:20:25,100 --> 00:20:28,100
Stir engagement initiative which
will be focused on how we can 

383
00:20:28,100 --> 00:20:31,300
encourage companies to reduce 
their negative impacts on 

384
00:20:31,300 --> 00:20:33,300
biodiversity throughout their 
value chains. 

385
00:20:33,900 --> 00:20:36,500
So we as Federated homies 
limited are really pleased to be

386
00:20:36,500 --> 00:20:39,900
part of the launching investor 
group and now having selected 

387
00:20:39,900 --> 00:20:44,100
our partners with series, igcc 
the finance for biodiversity 

388
00:20:44,100 --> 00:20:47,500
foundation and Planet tracker. 
And what is the aim of that of 

389
00:20:47,500 --> 00:20:50,700
that initiative, really to 
engage the companies that are 

390
00:20:50,700 --> 00:20:54,400
currently having the most 
negative impacts on biodiversity

391
00:20:54,500 --> 00:20:57,100
and those The news that a 
systemically important to 

392
00:20:57,100 --> 00:20:59,200
reversing nature loss and that's
the goal. 

393
00:20:59,200 --> 00:21:03,300
We want to help companies move 
towards reversing nature loss in

394
00:21:03,300 --> 00:21:05,200
this decade. 
And of course we know the 

395
00:21:05,200 --> 00:21:08,500
investors have a critical role 
to play in that through engaging

396
00:21:08,500 --> 00:21:11,100
with companies and driving the 
transformation of business 

397
00:21:11,100 --> 00:21:13,200
models. 
Are there any sectors in 

398
00:21:13,200 --> 00:21:15,400
particular that you will be 
looking at what have looked at 

399
00:21:15,400 --> 00:21:18,600
already? 
We did a lot of work already to 

400
00:21:18,600 --> 00:21:22,300
scope companies to look at their
food printing, but other 

401
00:21:22,300 --> 00:21:24,900
elements are also important. 
Look at this closure. 

402
00:21:25,100 --> 00:21:28,000
These companies and their 
activities and strategies on 

403
00:21:28,000 --> 00:21:30,800
nature. 
So, these are components in 

404
00:21:30,800 --> 00:21:34,100
which we are going to set up the
coming months to get away, the 

405
00:21:34,100 --> 00:21:38,200
technical Advisory Group and 
assigns Council to really look 

406
00:21:38,200 --> 00:21:41,500
at Ya scoping. 
The companies which one are 

407
00:21:41,500 --> 00:21:45,000
deemed to systemically be 
important for nature and which 

408
00:21:45,000 --> 00:21:45,700
one? 
Yeah. 

409
00:21:45,700 --> 00:21:49,000
And also to look at, of course 
the exposure of investors in 

410
00:21:49,000 --> 00:21:53,400
these companies which is crucial
to engage with just a big. 

411
00:21:53,400 --> 00:21:56,500
Thanks and hope it goes well, 
The rest of the, the day, and 

412
00:21:56,500 --> 00:21:58,200
the week and good luck with the 
negotiations. 

413
00:22:03,000 --> 00:22:08,200
The first time that we have an 
official today that is devoted 

414
00:22:08,200 --> 00:22:13,500
inside a cop to finance and and 
biodiversity finance and for 

415
00:22:13,500 --> 00:22:17,400
good reason, right? 
And you heard these CEOs and 

416
00:22:17,400 --> 00:22:21,100
others say that, they guess that
this is important. 

417
00:22:21,100 --> 00:22:24,500
They also get it's difficult, 
and they also get the very 

418
00:22:24,500 --> 00:22:28,500
easily can be accused of 
greenwashing and so finding that

419
00:22:28,500 --> 00:22:30,500
threading, that needle, that's 
what this is. 

420
00:22:30,600 --> 00:22:32,700
All about figuring out how to do
this. 

421
00:22:32,700 --> 00:22:37,100
So that is Meaningful Etc 
because we do need to more than 

422
00:22:37,100 --> 00:22:41,100
double investment in 
biodiversity into assets and 

423
00:22:41,100 --> 00:22:45,100
activities that have a positive 
impact on biodiversity. 

424
00:22:46,200 --> 00:22:49,500
We've heard so much about the 
importance of Finance this week.

425
00:22:49,600 --> 00:22:52,900
Indeed in Granderson under 
Secretary General of the UN and 

426
00:22:52,900 --> 00:22:55,500
executive director of the United
Nations environment. 

427
00:22:55,500 --> 00:22:58,700
Program in her opening remarks 
at Finance, they reminded us 

428
00:22:58,700 --> 00:23:00,500
that we live in a financial 
system. 

429
00:23:01,200 --> 00:23:04,000
So, how do we shift that for the
better and she called on those 

430
00:23:04,000 --> 00:23:06,700
in the room to put their weight 
behind Innovation for 

431
00:23:06,700 --> 00:23:10,000
investment, pressuring for a 
reduction in global subsidies 

432
00:23:10,200 --> 00:23:13,600
backing mandatory disclosures, 
and then developing measurements

433
00:23:13,600 --> 00:23:16,600
for outcomes. 
There are well over 100 

434
00:23:16,600 --> 00:23:19,300
financial institutions here at 
got 15, I wouldn't be surprised 

435
00:23:19,300 --> 00:23:22,300
if it's 200, and it's very 
heartening to see that level of 

436
00:23:22,300 --> 00:23:25,800
interest in nature from the 
insurance, sector asset 

437
00:23:25,800 --> 00:23:29,500
managers, Pension funds, and 
Banks and several have been 

438
00:23:29,500 --> 00:23:32,200
represented in groups. 
Like, Finance for biodiversity 

439
00:23:32,400 --> 00:23:34,700
and some have had their own 
announcements and just come on 

440
00:23:34,700 --> 00:23:36,200
their own. 
So, I think it's a really good 

441
00:23:36,200 --> 00:23:38,800
idea to understand why they've 
come individually. 

442
00:23:38,800 --> 00:23:41,400
Why are they turned up? 
And how the supporting that 

443
00:23:41,400 --> 00:23:44,300
crucial wording and the 
commitment to Halt and reverse 

444
00:23:44,300 --> 00:23:47,000
biodiversity loss? 
So I caught up with Andrew 

445
00:23:47,000 --> 00:23:49,800
Howard, Global head of 
sustainable investment and Sarah

446
00:23:49,800 --> 00:23:51,700
Woodfield. 
Active ownership manager. 

447
00:23:52,000 --> 00:23:54,300
Both from Schroeder's at a side 
event. 

448
00:23:54,800 --> 00:23:56,800
Thank you. 
Andrew, and Sarah, so much for 

449
00:23:56,800 --> 00:23:59,200
taking time, out of again. 
I'm very busy schedules. 

450
00:23:59,200 --> 00:24:02,200
I'm saying this to everyone. 
Join us here today to share 

451
00:24:02,500 --> 00:24:04,700
about what you're hoping for out
of got 15. 

452
00:24:04,900 --> 00:24:08,600
And before we get to that just 
sort of putting some context 

453
00:24:08,600 --> 00:24:11,100
around it. 
This isn't particularly new is 

454
00:24:11,100 --> 00:24:13,900
it to shoulders and Sandra maybe
to start us off by sharing. 

455
00:24:14,200 --> 00:24:15,900
Why is it important for you to 
be here? 

456
00:24:15,900 --> 00:24:17,800
I think if you look at the 
question that you're actually 

457
00:24:17,800 --> 00:24:20,600
right it's not new and thanks 
very much as well the chance to 

458
00:24:20,600 --> 00:24:22,900
talk to you. 
I think if this is an area that 

459
00:24:22,900 --> 00:24:25,100
in different names in different 
words and different terminology,

460
00:24:25,100 --> 00:24:27,900
we've certainly been looking at 
for an awful long time but what 

461
00:24:27,900 --> 00:24:30,400
we have found over the last few 
years is a lawful lot more. 

462
00:24:30,700 --> 00:24:34,000
Focus across political spheres 
across social spheres on nature 

463
00:24:34,000 --> 00:24:36,300
on biodiversity. 
I do think we're a bit of a 

464
00:24:36,308 --> 00:24:40,400
turning point, not calling this 
specifically as being that, you 

465
00:24:40,400 --> 00:24:41,900
know, that the point of 
crystallization. 

466
00:24:41,900 --> 00:24:44,600
But we are at an area where you 
can see the momentum building. 

467
00:24:44,700 --> 00:24:47,200
We can see that action starting 
to come through, that's going to

468
00:24:47,200 --> 00:24:49,400
have an impact on us. 
We're a global asset manager, we

469
00:24:49,400 --> 00:24:52,000
manage around a trillion 
dollars, globally, the 

470
00:24:52,000 --> 00:24:56,000
Investments, that we manage our 
exposed to Nature are exposed to

471
00:24:56,000 --> 00:24:58,400
biodiversity risks. 
You don't have a choice about 

472
00:24:58,400 --> 00:25:00,400
that understanding where those 
risks are. 

473
00:25:00,600 --> 00:25:02,600
How we can manage them, if 
they're for pretty critical to 

474
00:25:02,600 --> 00:25:05,500
our business, exit, and Sarah, 
maybe you could share with us 

475
00:25:05,500 --> 00:25:07,400
and just some of the work you've
been doing with corporates to 

476
00:25:07,400 --> 00:25:08,300
look. 
Feels like it's quite a lot of 

477
00:25:08,308 --> 00:25:10,300
pressure on corporates at this 
event. 

478
00:25:10,300 --> 00:25:11,900
So so tell us how it's been 
going. 

479
00:25:13,000 --> 00:25:17,200
So we've been engaging with 
companies for a number of years 

480
00:25:17,200 --> 00:25:19,800
and particularly over the last 
three years, we've had over 200 

481
00:25:19,800 --> 00:25:23,300
engagements with companies that 
we investment on, biodiversity 

482
00:25:23,300 --> 00:25:27,200
nature, related issues and and 
that encompasses quite a number 

483
00:25:27,200 --> 00:25:29,400
of different areas. 
So that could be anything from 

484
00:25:30,000 --> 00:25:32,300
Land exploitation. 
So one of the key drivers of 

485
00:25:32,300 --> 00:25:35,000
biodiversity losses and 
exploitation could be 

486
00:25:35,000 --> 00:25:37,200
deforestation could be 
pollution. 

487
00:25:37,600 --> 00:25:41,200
So our engagement work is really
focused on engaging with those 

488
00:25:41,200 --> 00:25:43,700
companies to better. 
Just and the risks how they're 

489
00:25:43,700 --> 00:25:46,800
planning to manage those risks 
and working with them over a 

490
00:25:46,800 --> 00:25:48,900
period of time. 
To look at that transition to 

491
00:25:48,900 --> 00:25:51,900
their business model, that needs
to take place in order to 

492
00:25:51,900 --> 00:25:56,600
support an H+ future. 
Now, deforestation is a key area

493
00:25:56,600 --> 00:25:59,800
of focus for us. 
We are one of the signatories to

494
00:25:59,900 --> 00:26:04,000
the pledge made at cop 26, last 
year to eliminate commodity 

495
00:26:04,000 --> 00:26:09,300
driven, deforestation by 2025. 
So we spent this year taking a 

496
00:26:09,300 --> 00:26:13,100
very systematic approach to 
looking at a restaurant Is to 

497
00:26:13,100 --> 00:26:16,300
really understand where that 
risk lies across sectors and 

498
00:26:16,300 --> 00:26:19,000
individual companies. 
And over the next year in the 

499
00:26:19,000 --> 00:26:22,400
run up to 20 25, we're going to 
be taking a much more. 

500
00:26:22,400 --> 00:26:25,500
Can a systematic approach to 
engaging with those companies to

501
00:26:25,500 --> 00:26:28,300
better understand the risks and 
event eventually to inform 

502
00:26:28,300 --> 00:26:30,400
investment decisions. 
I think there's a lot we can 

503
00:26:30,400 --> 00:26:33,300
laugh, you some hoping you'll 
both come on next year and we 

504
00:26:33,300 --> 00:26:35,500
can talk in more detail about 
how you're working with 

505
00:26:35,500 --> 00:26:39,100
companies. 
We've heard a lot at the 

506
00:26:39,100 --> 00:26:42,800
conference and certainly in 
their side events and In that 

507
00:26:42,800 --> 00:26:46,100
panels, taking place about risk 
and disclosure. 

508
00:26:46,600 --> 00:26:49,400
And, you know, the hope that is 
that disclosure will lead to 

509
00:26:49,400 --> 00:26:52,300
more investment flowing. 
It does also feel when there has

510
00:26:52,300 --> 00:26:54,400
been discussion around this, 
that there is a bit of a gap at 

511
00:26:54,400 --> 00:26:56,700
the moment between that risk and
opportunity. 

512
00:26:57,000 --> 00:27:00,500
So Andrew, what do you see that 
we need to do to unlock that 

513
00:27:00,500 --> 00:27:02,200
Finance mobilization, that we 
need? 

514
00:27:02,600 --> 00:27:05,400
I think, actually right there is
a gap mean, just looking at this

515
00:27:05,400 --> 00:27:09,100
juster of climate lens for a 
moment, nature investment in 

516
00:27:09,100 --> 00:27:12,000
nature investment investment in 
natural Capital, could be 30% to

517
00:27:12,000 --> 00:27:14,500
the Change that we need to see 
in terms of emission reduction 

518
00:27:14,500 --> 00:27:17,000
over the next 10 years. 
It's about 3% of the world's 

519
00:27:17,000 --> 00:27:20,100
climate Finance, there is a huge
disconnect and when you broaden 

520
00:27:20,100 --> 00:27:22,400
that out further and look more 
broadly at all of the benefits 

521
00:27:22,400 --> 00:27:25,200
that nature provides all of the 
ecosystem services and you look 

522
00:27:25,200 --> 00:27:27,300
at the way in which they're 
being valued is there's a huge 

523
00:27:27,300 --> 00:27:28,900
gap. 
What we ultimately need for that

524
00:27:28,900 --> 00:27:31,600
to work, I think is not just 
about disclosure and how do we 

525
00:27:31,600 --> 00:27:34,200
get companies? 
That's critical that vital to 

526
00:27:34,200 --> 00:27:36,800
our ability to understand 
companies, vital, to companies 

527
00:27:36,800 --> 00:27:39,800
abilities, to set their own road
maps, but it's also about 

528
00:27:39,800 --> 00:27:42,100
fundamentally aligning economic 
policy. 

529
00:27:42,200 --> 00:27:45,100
See Financial policy industrial 
policy. 

530
00:27:45,400 --> 00:27:48,500
All to point in the same 
direction, finance will flow at 

531
00:27:48,500 --> 00:27:52,800
scale where there's perceived to
be an expectation of real value 

532
00:27:52,800 --> 00:27:56,100
being created and real fun. 
Real Financial value being 

533
00:27:56,100 --> 00:27:58,400
attached to Nature and that's 
really about all of those groups

534
00:27:58,400 --> 00:28:01,900
working together to attach a 
real Financial value to such a 

535
00:28:01,900 --> 00:28:04,100
critical asset. 
I think that leads us perfectly 

536
00:28:04,100 --> 00:28:06,700
onto this final question and 
then I'll let you go and that is

537
00:28:06,700 --> 00:28:09,400
you what are you hoping for in 
terms of outcomes of the 

538
00:28:09,408 --> 00:28:12,600
negotiations this week? 
So really, it's just To that 

539
00:28:12,600 --> 00:28:14,400
point. 
So trying to bring together 

540
00:28:14,400 --> 00:28:19,100
economic actors policy, actors 
and public and private sector to

541
00:28:19,100 --> 00:28:23,500
really shape the agenda for a 
post-2020 global biodiversity 

542
00:28:23,500 --> 00:28:26,400
framework, which will set 
milestones in terms of us 

543
00:28:26,400 --> 00:28:30,100
achieving nature positive future
by 2050. 

544
00:28:30,400 --> 00:28:33,900
We are signatories of the make 
it mandatory campaign. 

545
00:28:34,400 --> 00:28:37,900
We think this is really critical
that businesses are better. 

546
00:28:37,900 --> 00:28:42,100
Placed to disclose the impacts 
and dependencies on nature this.

547
00:28:42,200 --> 00:28:45,400
It will enable us as investment 
managers to better, hold those 

548
00:28:45,400 --> 00:28:48,800
companies to account, but also 
to work with them on that 

549
00:28:48,800 --> 00:28:52,400
Journey, as they start to really
understand those risks, wearing 

550
00:28:52,400 --> 00:28:55,300
their supply chain, those risks.
It, and what changes they need 

551
00:28:55,300 --> 00:28:58,600
to make to their business model 
to move towards that net 

552
00:28:58,600 --> 00:29:01,300
positive future. 
One other thing that we're 

553
00:29:01,300 --> 00:29:03,900
really hoping to see from from 
the negotiations is 

554
00:29:04,300 --> 00:29:07,500
complementary, focus on the 
social benefits of nature. 

555
00:29:07,700 --> 00:29:12,500
So we recognize that in order to
protect and conserve The 

556
00:29:12,500 --> 00:29:15,100
ecosystem Services which we have
only rely on. 

557
00:29:15,400 --> 00:29:18,500
We need the communities, which 
interact with those ecosystem 

558
00:29:18,500 --> 00:29:21,000
services to really be at the 
heart of those conversations as 

559
00:29:21,000 --> 00:29:23,100
well. 
And that's particularly true. 

560
00:29:23,100 --> 00:29:27,000
When we look at issues of 
deforestation and ensuring that 

561
00:29:27,200 --> 00:29:29,900
forested land is being protected
by the communities though that 

562
00:29:29,900 --> 00:29:32,500
work very closely with them 
brilliant and there's a lot of 

563
00:29:32,500 --> 00:29:34,700
messaging this week around 
indigenous communities, and 

564
00:29:34,700 --> 00:29:36,700
communities, more, broadly, even
Farmers. 

565
00:29:36,700 --> 00:29:38,500
I've heard mentioning to be more
engaged. 

566
00:29:38,600 --> 00:29:42,200
Well, thank you both so much for
your time and I think we're And 

567
00:29:42,208 --> 00:29:44,600
yourselves all lots of luck with
the negotiations and look 

568
00:29:44,600 --> 00:29:46,500
forward to getting to bit more 
detail next year. 

569
00:30:03,200 --> 00:30:06,200
So we've heard that really for 
any Global ambition for 

570
00:30:06,200 --> 00:30:10,700
biodiversity to succeed is going
to take a shift from businesses.

571
00:30:10,700 --> 00:30:13,500
And that part of the whole 
ecosystem, here has been really 

572
00:30:13,500 --> 00:30:16,900
well represented at caught 15. 
There were two business days 

573
00:30:16,900 --> 00:30:19,800
with many events, hosted by 
business for nature. 

574
00:30:20,000 --> 00:30:23,000
And the Coalition. 
And this is for Nature has 

575
00:30:23,000 --> 00:30:27,600
galvanized over 340 businesses 
and financial institutions from 

576
00:30:27,600 --> 00:30:31,800
52 countries to urge, world 
leaders to adopt within Target, 

577
00:30:31,800 --> 00:30:34,500
15 of the global. 
Biodiversity framework, some 

578
00:30:34,500 --> 00:30:38,300
very specific wording and that 
wording is mandatory 

579
00:30:38,300 --> 00:30:41,700
requirements for all large 
businesses and financial 

580
00:30:41,700 --> 00:30:45,100
institutions to assess, and 
disclose their impacts and 

581
00:30:45,100 --> 00:30:48,700
dependencies on biodiversity by 
2030. 

582
00:30:49,200 --> 00:30:52,800
Couple of words in there, very 
Current one is dependencies and 

583
00:30:52,800 --> 00:30:56,200
the other is mandatory and 
actually it's Wednesday night 

584
00:30:56,400 --> 00:30:59,100
here in Montreal. 
As I'm recording this and the 

585
00:30:59,108 --> 00:31:01,800
word mandatory we've heard has 
been taken out today. 

586
00:31:01,800 --> 00:31:04,400
They couldn't get agreement on 
it, there's everything to play 

587
00:31:04,400 --> 00:31:05,700
for. 
There's some days left. 

588
00:31:05,700 --> 00:31:08,500
We hoping it's going to go back 
in for the moment. 

589
00:31:08,500 --> 00:31:12,000
It's really not a given even 
despite the huge efforts of the 

590
00:31:12,008 --> 00:31:15,600
make it mandatory campaign, and 
it is either zeb a executive 

591
00:31:15,600 --> 00:31:17,900
director of business for nature 
received. 

592
00:31:17,900 --> 00:31:20,000
A standing ovation from 
negotiators. 

593
00:31:20,000 --> 00:31:22,900
Here, this When she was making 
the case for mandatory 

594
00:31:22,900 --> 00:31:26,500
requirements and this wording. 
So quite confusing about why 

595
00:31:26,500 --> 00:31:28,800
this has now changed it. 
Like notice but you know we 

596
00:31:28,800 --> 00:31:31,800
remaining optimistic that it 
could again change in the next 

597
00:31:31,800 --> 00:31:34,300
few days. 
So the world Business Council 

598
00:31:34,300 --> 00:31:36,800
for sustainable development. 
Is also here. 

599
00:31:37,000 --> 00:31:40,800
They are working with more than 
220 businesses on turning 

600
00:31:40,800 --> 00:31:44,300
commitments into action when it 
comes to reducing business 

601
00:31:44,300 --> 00:31:47,500
impacts on nature and Diane. 
Hold off Executive Vice 

602
00:31:47,500 --> 00:31:52,800
President of the W bcsd very 
Kindly ducked into acquires a 

603
00:31:52,800 --> 00:31:57,600
hotel lobby with me to share. 
So the world Business Council 

604
00:31:57,600 --> 00:32:00,700
for sustainable development. 
Obviously you've got more than 

605
00:32:00,700 --> 00:32:03,800
220 member businesses that 
you're working with and on 

606
00:32:03,800 --> 00:32:06,300
behalf of. 
And so just really Keen to get 

607
00:32:06,300 --> 00:32:09,400
your view about the business 
sector presence here at cop15. 

608
00:32:09,400 --> 00:32:12,100
Has it been surprising to you as
it met your expectations? 

609
00:32:12,600 --> 00:32:15,400
Hey, honey, thanks so much for 
having me, it's actually 

610
00:32:15,400 --> 00:32:20,100
unprecedented. 
We've had over 700 companies 

611
00:32:20,200 --> 00:32:25,400
attending and this is across all
sectors Finance industry. 

612
00:32:26,300 --> 00:32:30,400
And you know, the Spectrum, this
is the first time we've seen 

613
00:32:30,400 --> 00:32:33,400
this level of mobilization and 
interest in a biodiversity cop. 

614
00:32:33,400 --> 00:32:35,700
It's, it's something that we've 
seen, of course, really 

615
00:32:35,700 --> 00:32:38,500
developing in climate, 
especially post Paris, and 

616
00:32:38,500 --> 00:32:41,000
cop21. 
This is, I think that kind of 

617
00:32:41,000 --> 00:32:44,200
Tipping Point was, as excellent.
And it really, just filled means

618
00:32:44,200 --> 00:32:47,400
today is a business day that 
there's a lot of momentum. 

619
00:32:47,400 --> 00:32:49,500
A lot of events happening with 
the business sector. 

620
00:32:49,900 --> 00:32:53,600
So I guess the question is you 
know how and why are the 

621
00:32:53,600 --> 00:32:54,700
business sector here? 
What is it? 

622
00:32:54,700 --> 00:32:58,100
They're looking for. 
The businesses have learned so 

623
00:32:58,100 --> 00:33:00,300
much from the climate Journey. 
It's quite clear. 

624
00:33:00,300 --> 00:33:03,400
Of course, with the climate 
emergency is and the impacts to 

625
00:33:03,400 --> 00:33:05,800
business resilience and 
opportunities. 

626
00:33:06,200 --> 00:33:09,500
We're starting to see the 
development of awareness and 

627
00:33:09,500 --> 00:33:13,500
understanding and we're actually
leveraging that climate journey 

628
00:33:13,500 --> 00:33:17,900
to be able to go faster on what 
it means to take to get to the 

629
00:33:17,900 --> 00:33:20,500
type of positioning, for a 
company that is nature positive.

630
00:33:20,500 --> 00:33:22,900
Along the lines of what we've 
had to try to work through to 

631
00:33:22,900 --> 00:33:25,800
get to Net Zero. 
So showing up here is really 

632
00:33:25,800 --> 00:33:29,900
demonstrating Trading a 
Readiness and what surprises me 

633
00:33:29,900 --> 00:33:33,600
the most is the level of action 
that we're already seeing 

634
00:33:33,900 --> 00:33:37,300
showing up here. 
If you had asked me a year ago, 

635
00:33:37,500 --> 00:33:39,700
when this was two years ago, 
when this was supposed to be 

636
00:33:39,700 --> 00:33:42,000
scheduled, if this level of 
action wouldn't have been 

637
00:33:42,000 --> 00:33:44,100
visible yet. 
So we've come a long way, pretty

638
00:33:44,100 --> 00:33:46,800
quickly. 
Let's is always really positive 

639
00:33:46,800 --> 00:33:50,100
2 here and we'll talk about, you
know, what, we're looking for 

640
00:33:50,100 --> 00:33:51,600
out. 
The negotiations, from the 

641
00:33:51,600 --> 00:33:54,900
business sector in a moment, but
maybe you can sort of talk us 

642
00:33:54,900 --> 00:33:59,200
through the work of WBC SD. 
You know, what is it that you're

643
00:33:59,200 --> 00:34:03,000
delivering here in 2015? 
One of the things that were 

644
00:34:03,000 --> 00:34:06,300
leveraging as I said is, how can
we use? 

645
00:34:06,300 --> 00:34:10,400
What the sectors have acted on 
to accelerate the work in 

646
00:34:10,400 --> 00:34:13,800
climate and replicate that into 
nature? 

647
00:34:14,199 --> 00:34:16,300
We have a couple of companies 
who are really, you know, the 

648
00:34:16,300 --> 00:34:19,500
Front Runners who are really 
leaning in to help craft. 

649
00:34:19,500 --> 00:34:22,300
For example, the task force, for
nature related Financial 

650
00:34:22,300 --> 00:34:25,600
disclosures, the setting of 
science-based targets for nature

651
00:34:25,600 --> 00:34:29,900
but Q companies have that type 
of capacity to lean in and build

652
00:34:29,900 --> 00:34:32,100
that understanding. 
So we've done is we've worked 

653
00:34:32,100 --> 00:34:35,000
with over 60 of Our member 
companies and really critical 

654
00:34:35,000 --> 00:34:38,699
Partners in this space to 
develop roadmap guidance, for 

655
00:34:38,699 --> 00:34:40,600
what it means to get to Nature 
positive. 

656
00:34:41,100 --> 00:34:43,000
How do you understand what's 
material? 

657
00:34:43,300 --> 00:34:45,699
How do you use that to set 
commitments and targets with 

658
00:34:45,699 --> 00:34:48,300
that interaction and guidance of
what we're seeing coming 

659
00:34:48,300 --> 00:34:50,800
starting to come out of the 
science-based targets for 

660
00:34:50,800 --> 00:34:53,000
nature? 
What are the actions and 

661
00:34:53,000 --> 00:34:55,900
Investments that need to go? 
How do you set the right kpis 

662
00:34:55,900 --> 00:34:58,900
for What good performance looks 
like and then how does that get 

663
00:34:58,900 --> 00:35:01,900
drilled into strong? 
Governance, accountability and 

664
00:35:01,900 --> 00:35:04,000
disclosure. 
How do we start to set up the 

665
00:35:04,000 --> 00:35:08,700
kinds of internal processes and 
systems? 

666
00:35:08,700 --> 00:35:11,800
That allow us to move faster to 
get to that level of disclosure.

667
00:35:11,800 --> 00:35:14,700
So there's still so many 
questions from so many 

668
00:35:14,700 --> 00:35:18,700
businesses that this kind of 
roadmap, guidance allows, the 

669
00:35:18,700 --> 00:35:22,800
big companies who are leaning in
to understand this to move 

670
00:35:22,800 --> 00:35:25,200
faster together. 
Then they take it out to their 

671
00:35:25,200 --> 00:35:28,100
value chains, and Chains. 
And that's how we start to get 

672
00:35:28,100 --> 00:35:31,600
the engagement from those who 
don't have the capacity to start

673
00:35:31,600 --> 00:35:34,400
to build that awareness. 
We can simplify the steps for 

674
00:35:34,400 --> 00:35:36,700
them and then it gets all the 
way down to smes. 

675
00:35:36,700 --> 00:35:39,900
And on the grounds, it starts to
really guide what the investment

676
00:35:40,000 --> 00:35:41,700
and decision-making criteria 
needs to be. 

677
00:35:41,700 --> 00:35:45,400
So that level of specific 
guidance is what we've brought 

678
00:35:45,400 --> 00:35:49,700
into this cop and that will now 
go forward into next year into 

679
00:35:49,700 --> 00:35:52,900
very deep sector specific 
guidance for those sectors that 

680
00:35:53,000 --> 00:35:56,300
really have the biggest impacts 
in biodiversity loss and So 

681
00:35:56,300 --> 00:36:00,200
crucial as you say in really 
unlocking companies which kind 

682
00:36:00,200 --> 00:36:03,500
of key in any of the Ambitions 
that we have towards towards 

683
00:36:03,500 --> 00:36:07,200
nature positive and just a final
question, then before we let you

684
00:36:07,207 --> 00:36:10,400
head on to your many evening 
events and that's really just 

685
00:36:10,400 --> 00:36:13,300
like what we think the business 
Community is needs from these 

686
00:36:13,300 --> 00:36:17,000
negotiations. 
The leading businesses who are 

687
00:36:17,000 --> 00:36:20,300
here, really want to see an 
ambitious, Global. 

688
00:36:20,300 --> 00:36:23,000
Biodiversity framework, the 
post-2020 go, lighter City 

689
00:36:23,000 --> 00:36:27,500
framework that the negotiators 
are working on should be setting

690
00:36:27,500 --> 00:36:30,100
the stage for what that kind of 
action. 

691
00:36:30,100 --> 00:36:32,100
Looks like at the national level
that business can then 

692
00:36:32,100 --> 00:36:35,700
contribute into I think, even if
we don't see the level of 

693
00:36:35,700 --> 00:36:39,700
ambition and that framework that
we're hopeful for, we're already

694
00:36:39,700 --> 00:36:41,400
going to have private sector 
leadership on. 

695
00:36:41,400 --> 00:36:44,600
What good action. 
It looks like driving these 

696
00:36:44,600 --> 00:36:47,200
accountability. 
Adams fast that will help us as 

697
00:36:47,200 --> 00:36:50,000
we head into the future, 
biodiversity cops. 

698
00:36:50,000 --> 00:36:52,100
But you know, there's a couple 
of articles are going to be 

699
00:36:52,107 --> 00:36:54,100
really important. 
In particular, the one I'm 

700
00:36:54,100 --> 00:36:57,800
pollution article 7 that starts 
to line up with the work. 

701
00:36:57,800 --> 00:36:59,400
The UN is doing on the global 
Plastics. 

702
00:36:59,400 --> 00:37:03,100
Treaty, that connects the dots 
for businesses working in these 

703
00:37:03,100 --> 00:37:06,900
spaces, of course, Article 15. 
And then the final point is that

704
00:37:06,900 --> 00:37:11,000
one, non-target 18 where we need
to think about how the role of 

705
00:37:11,000 --> 00:37:14,700
subsidies these big Finance 
pools in driving the right kinds

706
00:37:14,700 --> 00:37:17,400
of outcomes. 
Um's that halt nature loss. 

707
00:37:17,600 --> 00:37:20,400
So if we can get those lined up 
in particular, we're going to 

708
00:37:20,408 --> 00:37:23,100
see the right kind of enabling 
environment for business to be 

709
00:37:23,100 --> 00:37:25,600
able to move faster. 
Well good luck for the rest of 

710
00:37:25,600 --> 00:37:27,500
your time here and thanks so 
much with. 

711
00:37:27,500 --> 00:37:30,600
As I taking time out of your day
to spend, spend a few moments 

712
00:37:30,600 --> 00:37:32,000
with us. 
Thank you so much. 

713
00:37:32,000 --> 00:37:33,100
It's been great to be here with 
you. 

714
00:37:33,100 --> 00:37:35,500
And we're all really looking 
forward to the outcomes and 

715
00:37:35,600 --> 00:37:37,600
we'll see where we are a year 
from now, I'm sure it's going to

716
00:37:37,600 --> 00:37:40,600
be even better. 
So we've seen some of the 

717
00:37:40,607 --> 00:37:44,200
world's largest companies here 
with us over this week, I 

718
00:37:44,207 --> 00:37:46,600
mentioned Walmart earlier and 
there are actually a lot of 

719
00:37:46,600 --> 00:37:50,600
sectors represented, but 
obviously agriculture is high on

720
00:37:50,600 --> 00:37:53,600
the agenda. 
The global food system is the 

721
00:37:53,600 --> 00:37:57,000
primary driver of biodiversity 
loss with agriculture alone, 

722
00:37:57,300 --> 00:38:01,100
being the identified threat of 
more than 85% of the 28,000 

723
00:38:01,100 --> 00:38:05,200
species at risk of Extinction. 
So some see reform is part of 

724
00:38:05,200 --> 00:38:08,700
this discussion, the B team and 
business for nature released a 

725
00:38:08,700 --> 00:38:10,500
report. 
Estimating that the world spends

726
00:38:10,500 --> 00:38:13,900
at least one point eight 
trillion dollars a year on the 

727
00:38:13,900 --> 00:38:16,800
subsidies that are driving the 
destruction of species and 

728
00:38:16,800 --> 00:38:19,600
ecosystems. 
I heard also mention this week, 

729
00:38:19,600 --> 00:38:22,300
the about 500 billion, dollars 
of that annually is for 

730
00:38:22,300 --> 00:38:26,100
agriculture and Target. 18 is 
about subsidy reform and that's 

731
00:38:26,100 --> 00:38:27,800
getting a lot of air time from 
businesses. 

732
00:38:27,800 --> 00:38:30,100
Here at the conference. 
I've also heard about the 

733
00:38:30,100 --> 00:38:32,900
greater need for support for 
farmers and indeed greater 

734
00:38:32,900 --> 00:38:36,100
engagement with Farmers as those
stewards of land. 

735
00:38:36,400 --> 00:38:38,800
One of those sharing that 
message was Owen Bethel. 

736
00:38:39,100 --> 00:38:41,000
Nestle. 
And I was able to catch up with 

737
00:38:41,000 --> 00:38:44,100
him to hear why he's here and 
his hopes for cop and some of 

738
00:38:44,107 --> 00:38:48,400
the things Nestle is working on.
So, and it's such a pleasure to 

739
00:38:48,400 --> 00:38:50,500
be here with you. 
And thanks so much for joining 

740
00:38:50,500 --> 00:38:53,200
us in no problem. 
Pleasure to be here, maybe let's

741
00:38:53,200 --> 00:38:55,500
just start with know why is it 
so important for this lady to be

742
00:38:55,500 --> 00:38:58,500
here at got 15, being a big food
and beverage company. 

743
00:38:58,500 --> 00:39:02,000
We have a impact on the land and
that impact comes through our 

744
00:39:02,000 --> 00:39:04,300
supply chain, through all of the
ingredients that we purchase 

745
00:39:04,300 --> 00:39:05,600
from different parts of the 
world. 

746
00:39:06,000 --> 00:39:08,900
And I think there's a growing 
awareness inside the company and

747
00:39:09,100 --> 00:39:11,700
Course with our interactions 
with stakeholders about the 

748
00:39:11,700 --> 00:39:13,400
importance of addressing that 
impact. 

749
00:39:13,700 --> 00:39:15,900
And so we've done a lot of work 
on the climate side. 

750
00:39:15,900 --> 00:39:18,900
We have a net zero commitment, 
the roadmap, which is well 

751
00:39:18,900 --> 00:39:20,800
underway. 
But on the nature side, I think 

752
00:39:20,800 --> 00:39:22,200
we need to look at that in more 
detail. 

753
00:39:22,200 --> 00:39:24,500
And we need to understand the 
emerging policy Trends. 

754
00:39:24,500 --> 00:39:27,200
The emerging stakeholder views 
on that topic and also 

755
00:39:27,200 --> 00:39:30,100
contribute positively to this 
discussion to create a ambitious

756
00:39:30,100 --> 00:39:32,100
outcome. 
Not only for us, but for other 

757
00:39:32,100 --> 00:39:34,100
companies and Society in 
general. 

758
00:39:34,600 --> 00:39:37,500
And on that, what are the 
outcomes that you're hoping for 

759
00:39:37,500 --> 00:39:40,500
out of coffee 15? 
Speaking for your sector and 

760
00:39:40,500 --> 00:39:44,200
finesse a, I think, first and 
foremost, a deal of some 

761
00:39:44,200 --> 00:39:46,400
description. 
So I think it's important for 

762
00:39:46,400 --> 00:39:49,700
them to agree. 
A global biodiversity framework,

763
00:39:49,700 --> 00:39:51,500
which sets the rules and the 
ground rules. 

764
00:39:51,500 --> 00:39:54,400
If you like for progress in the 
future from different countries 

765
00:39:54,400 --> 00:39:57,200
and they will have some Freedom 
obviously to implement that 

766
00:39:57,200 --> 00:39:59,200
biodiversity framework as they 
see fit. 

767
00:39:59,600 --> 00:40:01,800
But it's really important. 
We actually have one and that we

768
00:40:01,800 --> 00:40:05,300
don't come away from here with 
with no deal as has happened at 

769
00:40:05,400 --> 00:40:09,700
some previous discussions. 
I think the And topics are 

770
00:40:09,700 --> 00:40:13,400
really around a objective to 
Halt and start to reverse, the 

771
00:40:13,400 --> 00:40:16,800
loss of nature by 2030, similar 
to the Paris agreement and the 

772
00:40:16,800 --> 00:40:19,600
Net Zero ambition. 
We also don't want to see 

773
00:40:19,600 --> 00:40:22,500
progress on things like rules on
disclosure and reporting for 

774
00:40:22,500 --> 00:40:26,000
companies and a discussion 
around the role of incentives 

775
00:40:26,000 --> 00:40:30,200
and what role they play for 
farmers and in particular, the 

776
00:40:30,200 --> 00:40:33,100
agricultural sector and how that
can create a more positive 

777
00:40:33,100 --> 00:40:35,000
incentive structure for them in 
the future. 

778
00:40:35,500 --> 00:40:36,800
I don't know. 
Yesterday, listening to you 

779
00:40:36,800 --> 00:40:38,900
speak at the world wide 
diversity Summit, you. 

780
00:40:39,000 --> 00:40:40,600
I had some points to make around
substance or see. 

781
00:40:40,600 --> 00:40:42,900
That's part of the negotiations 
this week is really. 

782
00:40:42,900 --> 00:40:44,600
You can share with us on that. 
Yes. 

783
00:40:44,600 --> 00:40:47,800
So we're here supporting the 
business for nature coalition's,

784
00:40:47,800 --> 00:40:51,000
call to action which is around 
mandatory reporting for 

785
00:40:51,000 --> 00:40:53,800
companies of a certain size 
around their impacts and 

786
00:40:53,800 --> 00:40:56,700
dependencies on nature, but also
around reforming 

787
00:40:56,700 --> 00:40:58,300
environmentally, harmful 
subsidies. 

788
00:40:58,800 --> 00:41:01,100
I think the argument we want to 
make is that there's a positive 

789
00:41:01,100 --> 00:41:04,300
way of redirecting money. 
So if we look at what we're 

790
00:41:04,300 --> 00:41:07,400
doing, as a company with 
Farmers, we're looking to reward

791
00:41:07,400 --> 00:41:10,900
them for the work practices. 
Which are less environmentally 

792
00:41:11,000 --> 00:41:12,700
damaging. 
And if we could start to 

793
00:41:12,700 --> 00:41:15,700
structure public incentives in 
the same way, I think we can 

794
00:41:15,700 --> 00:41:19,600
create win-win for both 
ourselves for the farmer and for

795
00:41:19,600 --> 00:41:21,700
governments, which are looking 
to enhance and protect 

796
00:41:21,700 --> 00:41:24,000
biodiversity in their, in their 
territories. 

797
00:41:33,100 --> 00:41:36,100
Even despite the fact that you 
have communities who cannot be 

798
00:41:36,100 --> 00:41:39,200
able, probably to write 
proposals, they are there other 

799
00:41:39,200 --> 00:41:41,500
alternatives to take 
photographs. 

800
00:41:41,600 --> 00:41:45,300
So, staying on this topic of 
land stewards, we have heard so 

801
00:41:45,300 --> 00:41:49,000
much this week about the role of
indigenous, peoples, and local 

802
00:41:49,000 --> 00:41:50,900
communities. 
Particularly when it comes to 

803
00:41:50,900 --> 00:41:55,400
meeting that 30 by 30 ambition. 
And how Oh, they can be better 

804
00:41:55,400 --> 00:41:58,700
supported this following stat 
has been used quite a few times.

805
00:41:58,700 --> 00:42:02,400
We can't seem to find where it's
come from, but that six percent 

806
00:42:02,400 --> 00:42:06,300
of the world's population is 
indigenous people looking after 

807
00:42:06,300 --> 00:42:10,900
20% of the land containing 80% 
of the biodiversity. 

808
00:42:11,300 --> 00:42:14,800
So we really can't underestimate
how crucial is to support those 

809
00:42:14,800 --> 00:42:17,300
land stewards. 
So indigenous delegates here are

810
00:42:17,300 --> 00:42:20,400
calling for the integration of 
indigenous land rights knowledge

811
00:42:20,400 --> 00:42:24,600
and financing to resolve this 30
by 30 conservation targets. 

812
00:42:24,700 --> 00:42:27,800
It sharing an example of some of
the work taking place in South 

813
00:42:27,800 --> 00:42:31,400
America by indigenous peoples, 
was Paul Rosalie and author, 

814
00:42:31,400 --> 00:42:34,900
filmmaker from Jungle Keepers. 
So I was thrilled to catch up 

815
00:42:34,900 --> 00:42:39,000
with him. 
For the last 17 years, I've been

816
00:42:39,000 --> 00:42:42,400
working with the indigenous 
people of the Peruvian Amazon, 

817
00:42:42,800 --> 00:42:46,600
in some of the most intact, 
ancient biologically diverse 

818
00:42:46,600 --> 00:42:49,300
Forest on Earth. 
And our mission is to protect 

819
00:42:49,300 --> 00:42:52,800
the Ancient Forest so much gets 
lost, where people think we can,

820
00:42:52,800 --> 00:42:56,300
we can, we can replant forests, 
you can't because these ancient 

821
00:42:56,300 --> 00:42:59,500
trees hold more carbon their 
home to more wildlife and 

822
00:42:59,500 --> 00:43:01,100
they'll take centuries for them 
to grow back. 

823
00:43:01,100 --> 00:43:03,800
So we're trying to protect the 
Ancient Forest, establish an 

824
00:43:03,800 --> 00:43:06,600
ecological Corridor and were 
working with The indigenous 

825
00:43:06,600 --> 00:43:11,200
people were giving gold miners 
and loggers jobs as Rangers. 

826
00:43:11,500 --> 00:43:13,400
We're working with the 
indigenous communities to secure

827
00:43:13,400 --> 00:43:15,700
threatened habitat. 
We're doing everything we can to

828
00:43:15,700 --> 00:43:18,200
establish this car door before 
it's too late. 

829
00:43:18,600 --> 00:43:22,100
And as you pointed out in your 
speech, just now, it's all about

830
00:43:22,300 --> 00:43:26,000
livelihoods and creating 
economic alternatives for some 

831
00:43:26,000 --> 00:43:28,100
of the loggers. 
So if you can share a little bit

832
00:43:28,100 --> 00:43:31,900
more about the training, how are
you working with that? 

833
00:43:32,000 --> 00:43:34,500
Well, I mean, you can't ask 
someone that can't put food on 

834
00:43:34,500 --> 00:43:38,000
the table for their To protect 
the rainforest, they're going to

835
00:43:38,000 --> 00:43:40,400
do whatever they need to do to 
get food for their children. 

836
00:43:40,400 --> 00:43:43,300
So what we do is we go to people
that are at legal gold miners 

837
00:43:43,300 --> 00:43:44,800
and we say, why don't you work 
as a ranger? 

838
00:43:44,800 --> 00:43:47,200
And so, you are getting a full 
time job. 

839
00:43:47,200 --> 00:43:50,100
They're getting benefits. 
They very respectful profession 

840
00:43:50,400 --> 00:43:53,300
that they're recognized for. 
And so we're really transforming

841
00:43:53,300 --> 00:43:56,400
these people's livelihoods, you 
know, and we're learning from 

842
00:43:56,400 --> 00:43:59,300
them too because it's like you 
know, you don't want to we've 

843
00:43:59,300 --> 00:44:01,800
heard of conservation efforts 
that come in and, you know, make

844
00:44:01,800 --> 00:44:03,400
these broad rules. 
We're going down there and 

845
00:44:03,400 --> 00:44:05,900
saying, look what do you need to
have? 

846
00:44:06,000 --> 00:44:08,300
To protect this. 
And a lot of times they go, we 

847
00:44:08,300 --> 00:44:11,200
wish we could protect it, but 
there's no resources here. 

848
00:44:11,200 --> 00:44:13,200
There's no jobs. 
And so what we've been doing 

849
00:44:13,400 --> 00:44:15,500
with age of Union, which is 
another montreal-based 

850
00:44:15,500 --> 00:44:20,100
organization, is providing those
jobs as Rangers as boat drivers 

851
00:44:20,100 --> 00:44:22,500
as chefs as guides all these 
different things. 

852
00:44:22,500 --> 00:44:24,500
And it's of how we're having 
amazing results because we're 

853
00:44:24,500 --> 00:44:26,700
actually protecting that forest 
and there's millions and 

854
00:44:26,700 --> 00:44:29,600
millions of wild heart beats and
endangered species and 

855
00:44:29,600 --> 00:44:32,900
undiscovered medicines that are 
within that Forest, as well as 

856
00:44:32,900 --> 00:44:36,600
tribes of people that are so 
isolated that they Communicate 

857
00:44:36,600 --> 00:44:40,100
with the outside world and we're
hearing a lot got 15 about the 

858
00:44:40,100 --> 00:44:44,000
role of indigenous peoples and 
how we need to support them in 

859
00:44:44,300 --> 00:44:47,400
their role of supporting 
biodiversity and what are your 

860
00:44:47,400 --> 00:44:51,900
sort of key messages for the 
negotiators at got 15 to listen?

861
00:44:52,400 --> 00:44:55,900
They really the this is a time 
to listen because you know we're

862
00:44:55,900 --> 00:44:58,900
coming from these countries 
where we you know in the in the 

863
00:44:58,900 --> 00:45:02,500
in the u.s. we D forested 97 
percent of the original Forest, 

864
00:45:02,500 --> 00:45:04,700
cover that existed before 
Europeans arrived. 

865
00:45:04,900 --> 00:45:07,500
And you know, so You go to a 
country like Brazil and say, 

866
00:45:07,500 --> 00:45:09,400
this is what you should do with 
your Forest. 

867
00:45:09,500 --> 00:45:12,700
Now some people say, oh you have
no right to tell them that but 

868
00:45:12,900 --> 00:45:15,000
it's a different Century, we 
know things. 

869
00:45:15,000 --> 00:45:17,300
Now we know that if we ruin the 
Amazon rainforest, it will have 

870
00:45:17,300 --> 00:45:20,300
Global impacts for us. 
So there is an equitable way to 

871
00:45:20,300 --> 00:45:22,900
do this. 
And like I said today, and my 

872
00:45:22,900 --> 00:45:25,700
speech, you cannot protect the 
whole thing from the start but 

873
00:45:25,700 --> 00:45:27,500
you have to start somewhere to 
protect the whole thing. 

874
00:45:27,900 --> 00:45:30,000
And the best way to do that is 
on the ground, in the 

875
00:45:30,008 --> 00:45:33,600
communities asking a local 
people with your territory. 

876
00:45:33,600 --> 00:45:35,400
How do you envision protecting 
it? 

877
00:45:35,400 --> 00:45:38,300
Providing For them to do that 
without coming in and sort of 

878
00:45:38,300 --> 00:45:40,800
giving them something that 
doesn't know, one size fits, all

879
00:45:41,100 --> 00:45:43,700
you know, Westerner northerner 
plan, that's just going to feel 

880
00:45:43,700 --> 00:45:47,400
abrasive to them feel cologne, 
cuddle, colonialist, so Finance,

881
00:45:47,400 --> 00:45:50,600
it's bigger than the agenda 
obviously, for a project like 

882
00:45:50,600 --> 00:45:52,700
yours initiative, funding is 
crucial. 

883
00:45:52,700 --> 00:45:54,800
Yes, are you looking for funding
from governments? 

884
00:45:54,800 --> 00:45:56,900
Is it from philanthropy? 
Is it from corporates? 

885
00:45:57,000 --> 00:45:58,700
What would help? 
What would help? 

886
00:45:58,800 --> 00:46:02,500
All of those? 
We've been relying on on funding

887
00:46:02,500 --> 00:46:05,500
from philanthropists and 
corporate. 

888
00:46:06,000 --> 00:46:09,100
We need more right now, we're 
protecting 50,000 acres, and 

889
00:46:09,100 --> 00:46:12,400
we're trying to protect 250,000 
acres and so we're about 20 

890
00:46:12,400 --> 00:46:15,700
million away from our goal. 
And so, yes, we're looking for 

891
00:46:15,700 --> 00:46:17,700
funding. 
But the key here is that 

892
00:46:17,700 --> 00:46:21,800
eventually we can't rely on 
funding funding is a Runway to 

893
00:46:21,800 --> 00:46:24,000
get to the point where you can 
create a sustainable future. 

894
00:46:24,200 --> 00:46:28,300
And then you you you helped set 
up projects, like, Brazil nut, 

895
00:46:28,300 --> 00:46:32,600
harvesting Ranger programs 
ecotourism, local local products

896
00:46:32,900 --> 00:46:35,500
that can sustain the region and 
then the people can make what 

897
00:46:35,500 --> 00:46:37,300
they needed. 
To survive the forest is 

898
00:46:37,300 --> 00:46:39,900
protected and then you don't 
need to be continually going out

899
00:46:39,900 --> 00:46:41,500
for charity, which just doesn't 
work. 

900
00:46:41,500 --> 00:46:44,200
It becomes a money pit. 
Well, I can hear the Clapping 

901
00:46:44,200 --> 00:46:46,600
sending from inside so they're 
probably coming out and moment. 

902
00:46:46,700 --> 00:46:49,200
Just say thank you so much for 
getting the message out through 

903
00:46:49,200 --> 00:46:51,500
amazing story, telling, and 
film. 

904
00:46:51,700 --> 00:46:52,900
And for all the work that you're
doing. 

905
00:46:52,900 --> 00:46:55,100
It's lovely to be here and talk 
to you today. 

906
00:46:55,100 --> 00:46:57,200
Thank you for helping us get the
message out in for anybody 

907
00:46:57,200 --> 00:46:59,200
listening. 
Please go to junk a DOT org. 

908
00:46:59,200 --> 00:47:00,800
Find us on Instagram at jungle 
Keepers. 

909
00:47:01,100 --> 00:47:03,500
Help us protect this Forest. 
It really is in our hands right 

910
00:47:03,500 --> 00:47:06,000
now. 
That he had fished that since he

911
00:47:06,000 --> 00:47:10,900
was a child and he said that it 
was a place that he hoped that 

912
00:47:10,900 --> 00:47:12,600
he could one day, bring his 
children. 

913
00:47:13,300 --> 00:47:15,700
And so a year later we returned 
with conservationists from 

914
00:47:15,700 --> 00:47:18,600
around the world to document 
this untouched ecosystem. 

915
00:47:19,700 --> 00:47:23,100
But when we returned to the 
lake, what we found was 

916
00:47:23,100 --> 00:47:28,300
terrifying, the lake was gone. 
And everything was burned. 

917
00:47:29,300 --> 00:47:33,100
I said, where are we? 
And my friend turned with tears,

918
00:47:33,100 --> 00:47:40,300
in his eyes and said, planet 
earth - one Lake Most people 

919
00:47:40,300 --> 00:47:44,500
haven't seen the sand storms 
that are in the Amazon 

920
00:47:44,500 --> 00:47:45,900
rainforest. 
And in case you missed that, 

921
00:47:45,900 --> 00:47:49,500
I'll say it again. 
There's a human-caused desert 

922
00:47:49,600 --> 00:47:53,700
forming in the headwaters of the
Amazon rainforest, illegal gold 

923
00:47:53,700 --> 00:47:57,700
miners have cleared over 100,000
acres of primary Forest a scar 

924
00:47:57,700 --> 00:48:02,100
on the face of this planet. 
That is visible from space, and 

925
00:48:02,100 --> 00:48:04,500
this isn't the only threat 
facing this region. 

926
00:48:06,700 --> 00:48:10,100
Each year, we also watches the 
Amazon fires, continue to eat 

927
00:48:10,100 --> 00:48:13,100
away at habitat in the Madre de 
dios. 

928
00:48:13,600 --> 00:48:17,900
We see it every day, tentacles 
of the trans Amazon Highway 

929
00:48:18,200 --> 00:48:21,300
spreading like a cancer. 
This is the front lines of the 

930
00:48:21,300 --> 00:48:24,800
sixth Extinction, the conquest 
of paradise. 

931
00:48:28,300 --> 00:48:32,800
And finally, to lead us out of 
this brief, run-through of some 

932
00:48:32,800 --> 00:48:34,800
of the most incredible 
discussions happening here at 

933
00:48:34,800 --> 00:48:38,000
coffee stain and the 
negotiations, my former co-host.

934
00:48:38,000 --> 00:48:40,800
If she'll let me call her that 
Jessica Smith nature lead. 

935
00:48:40,900 --> 00:48:44,900
Unep fi join me to share her 
experience, the convention and 

936
00:48:44,900 --> 00:48:46,400
the work that still needs to be 
done. 

937
00:48:47,600 --> 00:48:52,000
So just carry, it's so good to 
see it would not be a unep GFI 

938
00:48:52,000 --> 00:48:54,800
cop podcast without you. 
So, I'm so glad that we've 

939
00:48:54,800 --> 00:48:56,200
caught you here at the 
conference. 

940
00:48:56,300 --> 00:48:57,500
Oh, thank you. 
So, Much Helen. 

941
00:48:57,500 --> 00:49:01,400
It's always a pleasure so well I
guess you know what we have you 

942
00:49:01,400 --> 00:49:03,900
your everywhere this week. 
So tell us, you know what's been

943
00:49:03,900 --> 00:49:05,400
interesting from your point of 
view? 

944
00:49:05,600 --> 00:49:09,300
Well, for me, the most 
interesting event was I was able

945
00:49:09,300 --> 00:49:12,200
to meet with the president of 
the United Nations indigenous 

946
00:49:12,200 --> 00:49:16,300
peoples forum and he really 
emphasized to me the important 

947
00:49:16,300 --> 00:49:21,200
role that editions people play 
in stewarding nature and already

948
00:49:21,200 --> 00:49:24,400
18 percent of the world is 
stewarded by indigenous peoples 

949
00:49:24,400 --> 00:49:27,000
but they don't have land rights 
necessarily in all. 

950
00:49:27,100 --> 00:49:30,200
Countries. 
So just recognizing indigenous 

951
00:49:30,200 --> 00:49:33,200
land rights would get us you 
know, quite a lot of the way 

952
00:49:33,200 --> 00:49:36,500
towards the 30 by 30 targets. 
So that was very eye-opening 

953
00:49:37,000 --> 00:49:39,300
here, it's amazing. 
The amount of discussion this 

954
00:49:39,300 --> 00:49:41,400
week about bringing indigenous 
peoples in. 

955
00:49:41,400 --> 00:49:45,000
It's been really eye-opening. 
So fantastic to hear that stat 

956
00:49:45,000 --> 00:49:46,000
as well. 
Thank you. 

957
00:49:46,000 --> 00:49:47,500
And anything else you wanted to 
mention? 

958
00:49:47,500 --> 00:49:50,400
Yes. 
So undp launch the biodiversity 

959
00:49:50,400 --> 00:49:54,000
credits Alliance and it's really
one of the hot topics of this 

960
00:49:54,000 --> 00:49:56,600
whole conference. 
We've heard some debate that 

961
00:49:57,000 --> 00:50:00,200
biodiversity credits could maybe
be called biodiversity 

962
00:50:00,200 --> 00:50:03,900
certificates to avoid the idea 
that biodiversity can be debited

963
00:50:03,900 --> 00:50:07,200
and credited the way that carbon
in our atmosphere clearly can. 

964
00:50:07,700 --> 00:50:10,800
So, you know, we're hearing a 
lot of nuance in that debate. 

965
00:50:11,100 --> 00:50:12,100
That's a really interesting 
point. 

966
00:50:12,100 --> 00:50:15,100
And in fact, I keep hearing 
biodiversity credits, there's a 

967
00:50:15,100 --> 00:50:17,000
lot of side events happening 
this week. 

968
00:50:17,000 --> 00:50:18,800
So I think maybe something will 
pick up on next year in the 

969
00:50:18,800 --> 00:50:23,200
podcast to, and but also unify. 
PRI and the finance. 

970
00:50:23,200 --> 00:50:26,000
Biodiversity pledge, we heard 
from Anita and Sonia. 

971
00:50:27,100 --> 00:50:29,600
Earlier today without statement 
today. 

972
00:50:29,600 --> 00:50:31,400
So exciting news, tell us about 
that. 

973
00:50:31,500 --> 00:50:34,800
Wonderful. 
So we had 150 representatives of

974
00:50:34,800 --> 00:50:38,000
the private Finance sector who 
are calling on governments to 

975
00:50:38,000 --> 00:50:41,000
conclude this agreement in the 
coming days. 

976
00:50:41,500 --> 00:50:44,100
So this is the largest group of 
private Finance. 

977
00:50:44,100 --> 00:50:48,300
Signatories to such a statement 
before representing 24 trillion 

978
00:50:48,300 --> 00:50:50,700
in assets under management, 
which is, you know, very 

979
00:50:50,700 --> 00:50:53,800
significant and effectively. 
They're saying to government's. 

980
00:50:53,800 --> 00:50:56,800
If you can conclude this 
agreement, you know, we, we can 

981
00:50:56,800 --> 00:50:58,600
move. 
Towards couldn't make Montreal 

982
00:50:58,600 --> 00:51:01,000
align portfolios. 
The way that we have moved 

983
00:51:01,100 --> 00:51:03,200
towards Paris aligned of 
portfolios. 

984
00:51:03,500 --> 00:51:06,300
Any other key issues that you're
working on this week regarding 

985
00:51:06,300 --> 00:51:10,400
the negotiations certainly. 
So as un staff we are supporting

986
00:51:10,600 --> 00:51:12,800
the countries in the 
negotiations were helping her 

987
00:51:12,800 --> 00:51:16,100
out wherever we can we are 
seeing a lot of support for the 

988
00:51:16,107 --> 00:51:18,700
gold D, calling for the 
alignment of the financial 

989
00:51:18,700 --> 00:51:22,000
flows, but developing country 
Global South parties, really 

990
00:51:22,000 --> 00:51:26,200
want to make sure that it's 
clearly not instead of aid but 

991
00:51:26,200 --> 00:51:29,600
as a compliment, Aid. 
So they want to avoid a smoke 

992
00:51:29,600 --> 00:51:31,900
and mirrors where you know, we 
say well we're going to align 

993
00:51:31,900 --> 00:51:34,200
all the finance but they don't 
get cash in hand. 

994
00:51:34,900 --> 00:51:38,100
We are also expecting that. 
All of the national, 

995
00:51:38,100 --> 00:51:42,600
biodiversity strategy and action
plans will be immediately 

996
00:51:42,600 --> 00:51:45,900
updated after this cop. 
So normally there's sort of a 

997
00:51:46,400 --> 00:51:50,700
year or so delay before that 
happens, but we are ready to go,

998
00:51:51,400 --> 00:51:54,900
undp unep the global environment
facility, and the CBD 

999
00:51:54,900 --> 00:51:58,800
Secretariat are all All ready to
go to help parties. 

1000
00:51:58,800 --> 00:52:03,900
Basically you know, from q1 next
year to update their and be saps

1001
00:52:03,900 --> 00:52:06,200
the national biodiversity 
strategy and action plans. 

1002
00:52:06,600 --> 00:52:09,700
And for the first time these 
will all have Finance, plans 

1003
00:52:09,700 --> 00:52:12,600
attached to them. 
And we're working with the undp 

1004
00:52:12,600 --> 00:52:16,200
bio fan initiative. 
Also to try to identify 

1005
00:52:16,600 --> 00:52:21,800
opportunities within 136, Jeff 
eligible, countries for private 

1006
00:52:21,800 --> 00:52:25,700
Finance. 
So, this is a total revolution 

1007
00:52:25,700 --> 00:52:30,400
in the way that And finance has 
been thought of for biodiversity

1008
00:52:30,400 --> 00:52:33,600
in this process. 
So it's very exciting and we are

1009
00:52:33,600 --> 00:52:37,400
looking at what opportunities 
are there, 2D risk, which is 

1010
00:52:37,400 --> 00:52:38,600
excellent. 
So, I want to keep you cause I 

1011
00:52:38,607 --> 00:52:42,600
know you're super busy, but just
briefly hopes and concerns 

1012
00:52:43,200 --> 00:52:47,200
education's talk to Rafael. 
I would just say, my only 

1013
00:52:47,200 --> 00:52:51,700
concern is that, you know, 
there's so much to do to reach 

1014
00:52:51,700 --> 00:52:55,500
the 2030 Target, but there is 
such a lot of momentum. 

1015
00:52:55,500 --> 00:52:59,800
So, you know, we just need, you 
know, to keep going at PACE to 

1016
00:52:59,800 --> 00:53:02,500
hold two perverse nature lost by
the end of the decade. 

1017
00:53:11,100 --> 00:53:15,000
Well, that is it from us, at 
financing nature in Montreal, 

1018
00:53:15,000 --> 00:53:18,300
the music is playing and the 
bins are being emptied. 

1019
00:53:18,300 --> 00:53:21,600
So I think that's our cue to go.
There's a way still to go 

1020
00:53:21,600 --> 00:53:24,300
obviously with the negotiations,
but hopefully, we've brought you

1021
00:53:24,300 --> 00:53:26,700
up to speed. 
There's still time to influence 

1022
00:53:26,700 --> 00:53:28,200
those negotiations. 
Of course. 

1023
00:53:28,700 --> 00:53:32,000
Our next cop 15 episode in 
partnership with unit will be in

1024
00:53:32,000 --> 00:53:35,600
January, 20, 23, where we'll be 
looking at the Comes of the 

1025
00:53:35,607 --> 00:53:38,900
conference and importantly, how 
we can reach those targets 

1026
00:53:38,900 --> 00:53:41,500
agreed in the global, 
biodiversity framework. 

1027
00:53:41,500 --> 00:53:45,000
The devil is going to be in the 
delivery and that resource 

1028
00:53:45,000 --> 00:53:47,700
mobilization as we know. 
So Andrew Mitchell will be our 

1029
00:53:47,700 --> 00:53:50,700
first guest next year and will 
also be focusing in the early 

1030
00:53:50,700 --> 00:53:53,300
months of the year. 
On those practical aspects of 

1031
00:53:53,300 --> 00:53:56,700
delivery, on both the risk and 
opportunity side, you can find 

1032
00:53:56,700 --> 00:53:59,600
out more about what we do. 
And of course about the podcast 

1033
00:53:59,600 --> 00:54:02,600
and the case studies, and also 
sign up to our newsletter on our

1034
00:54:02,600 --> 00:54:09,600
website www.rittenhouse.ca 
Institute .co.uk /gf I Hive we 

1035
00:54:09,600 --> 00:54:12,600
launched an investment Readiness
tool kit in December during cop.

1036
00:54:12,600 --> 00:54:15,500
So I'd love you to go and take a
look at that and see if maybe we

1037
00:54:15,500 --> 00:54:17,900
can use that to help you in your
work. 

1038
00:54:18,000 --> 00:54:20,900
It's been an incredible year for
us at financing nature since we 

1039
00:54:20,900 --> 00:54:24,300
launched the progress one year 
ago and we've had more than 

1040
00:54:24,300 --> 00:54:27,700
20,000 listens. 
So thank you so much for your 

1041
00:54:27,700 --> 00:54:30,200
interest in this topic. 
The work that you do and your 

1042
00:54:30,200 --> 00:54:34,200
support for the podcast. 
So until next year from us at 

1043
00:54:34,200 --> 00:54:37,500
financing nature, ER with GFI 
and our partners at the UN 

1044
00:54:37,500 --> 00:54:40,400
environment program. 
This cop season we wish you a 

1045
00:54:40,400 --> 00:54:42,400
very restful and refreshing 
break. 

1046
00:54:42,400 --> 00:54:44,100
If that is what is on your 
agenda? 

1047
00:54:44,100 --> 00:54:47,900
I know it's definitely on mine 
and we look forward to seeing 

1048
00:54:47,900 --> 00:54:51,100
you hearing youth speaking to 
you in 2023.