WWF officials explain the organization’s stand on global sustainable finance

The World Wildlife Fund (WWF) grew to become one of the greatest authorities on matters of sustainability and balance. Recently, its officials took the time to explain their views on the matter in an interview, focusing primarily on global sustainable finance.

Establishes in 1961 by nature enthusiasts interested in protecting endangered species and habitats from human development and expansion, the WWF has grown exponentially, becoming a massive player in global sustainable finance and nature risk. The interview itself took place after the COP27 Climate Change meeting in Egypt, and it features the Fund’s Maud Abdelli, Lead of the Greening Financial Regulation Initiative, and Senior Policy Advocate of International Climate Finance, Policy & Government Affairs, Benjamin Hunt.

How did WWF become involved with global sustainable finance?

According to the interviewees, WWF became involved in global sustainable finance issues over a decade ago, when it started reaching out to investors, insurers, regulators, policymakers, and even banks. Their goal was to shed light on nature’s value and contributions to its conservation in the financial industry.

They added that finance is a massive lever for change, which can help deliver “an equitable, net-zero, nature-positive future.” However, in order for this to happen, the economic system needed to recognize the value of nature, and WWF felt like it didn’t at that time. So, it took it up on itself to change that.

In order to make an impact, WWF developed a twofold strategy, which revolved around financing green and greening finance. Financing green led to making a greater investment in sustainable development and activities that were deemed nature-positive. The Fund was not picky, and they supported public and private, local and international businesses.

Greening finance, on the other hand, was a more complex issue, and it revolved around ensuring that new financial architecture and regulations were developed with preserving nature in mind, while discouraging and removing harmful incentives.

One example is the upcoming COP15 Biodiversity conference scheduled to take place in Montreal, where the Fund expects to see an agreement over the Global Biodiversity Framework. While its officials admit that the framework is ambitious, they say that its implementation needs to start immediately, with one of the first steps being the update of National Biodiversity Strategies and Action Plans. This is necessary, especially following the poor results of the Climate Change meetings in Egypt.

WWF has a long-term plan for preserving biodiversity

WWF officials also noted that they approach finance and the global economy with the goal of addressing two intertwined systems of the planet — nature, and climate. They are strong proponents of Nature Positive Economy, which they helped develop, and which has a goal of ensuring that at least 30% of land and oceans are protected by 2030.

Meanwhile, they also advocate that central banks should take a precautionary approach to climate change and the loss of biodiversity, saying that this will allow institutions to act before the risks get fully materialized. According to them, non-action is not a neutral solution, but the contribution to both climate change and the loss of nature can still be saved.

They even developed a three-phase pathway that will include the 25-year period between 2025 and 2050, which will result in the reduction of Greenhouse Gas emissions and the restoration of biodiversity.

The interview is long, and extensive, and it involves plans and ideas regarding multiple topics, the WWF’s views on what can and should be done, and more