Friends of the Earth US’ new Protecting Biodiversity from Harmful Financing briefing paper series underscores why banks and financiers should exclude harmful, unsustainable financing to activities and projects which impact critical, at-risk ecosystems. Each briefing paper is dedicated to a key area as identified by the Banks and Biodiversity Initiative’s eight proposed No Go Areas. 

Internationally-Recognized areas are considered No Go Area 1, which is Paper 01 of the series and details the critical role of banks and financiers in protecting internationally recognized areas, such as World Heritage sites, IUCN category sites, UNESCO Biosphere Reserves. 

Nationally and Sub-nationally recognized areas are considered as No Go Area 2, which is Paper 02 of the series and calls on banks and financiers to protect nationally and sub-nationally recognized areas, such as parks, reserves, memorials, monuments, preserves, among others, by prohibiting direct and indirect financing to activities and projects which may harm these areas.

Key Biodiversity Areas and habitats with threatened and endemic species are considered as No Go Area 3, which is Paper 03 of the series and calls on banks and financiers to prohibit direct and indirect financing to activities and projects which may harm these critical areas. Within the next few decades, one million species are estimated to be at risk of extinction. Biodiversity protection is not only important in its own right, but also is critical for contributing to and maintaining important ecosystem functions and processes which support all life on Earth.

This briefing paper series provides key lessons in advocating how banks and financiers can improve their policies and practices in safeguarding the world’s most iconic and treasured places, as well as protecting fragile areas from unsustainable development and accurately accounting for biodiversity risks in their investments. Learn more about the key takeaways of Paper 01, Paper 02 and Paper 03. Briefing papers focusing on No Go Areas 4-8 are forthcoming. 

Friends of the Earth US is part of the Banks and Biodiversity Initiative, a civil society coalition which advocates that banks and financiers strengthen their biodiversity policies and practices in order to halt and reverse biodiversity loss. Learn more at Banks And Biodiversity.org.