Zurich/Davos – The financial sector can help to stem the loss of biodiversity by 2030. This is shown in a white paper from UBS, which will be discussed at the World Economic Forum. However, the big bank also believes that better data and more cooperation between politics, business and science are needed.
As part of the World Economic Forum in Davos, UBS is presenting a white paper that outlines solutions for preserving biodiversity. The major bank therefore believes that the financial sector can help to stem the loss of biodiversity by 2030. In particular, existing technologies should be scaled quickly and comprehensively.
In 2022, the international community agreed the Global Biodiversity Framework (GBF) to reverse the loss of biodiversity by 2030 and become nature-positive by 2050. According to UBS, an investment gap of 700 billion dollars per year must be closed in order to achieve the target set by 2030. Among other things, this would require private capital to flow into “innovative and nature-focused financial approaches”. However, UBS emphasizes that this requires better data and measurements in the area of biodiversity.
At the same time, the big bank is calling for more cooperation in all areas and swift action. “It is imperative that governments, industries, the scientific community and the global community work together to accelerate and scale up solutions to halt biodiversity loss by 2030,” UBS CEO Sergio Ermotti is quoted as saying.
According to the UBS analysis, around 60 percent of global gross domestic product is “moderately or heavily dependent on nature”. Accordingly, the interest of investors, companies and governments in investing in nature-focused solutions is also increasing. ce/ssp