Dubai, Geneva, Oxford, 26th October 2016 – The Natural Capital Declaration (NCD), the leading global finance-led initiative convened by the Global Canopy Programme (GCP) and the UN Environment Finance Initiative (UNEP FI) today announced that has changed its name to become the Natural Capital Finance Alliance (NCFA), effective immediately.
Marie Morice, Head, Natural Capital Finance Programme, NCFA and GCP said stated “Since the NCD’s launch in 2012 the focus of our work has changed considerably and I feel that by changing our name to the Natural Capital Finance Alliance (NFCA) this better represents the unique nature of our work in actively engaging and collaborating with financial institutions to better understand natural capital risks, pursue opportunities and establish the foundation for resilient long-term economic growth that protects nature and societies.
Morice goes on to say “Maintaining the original intent of the Natural Capital Declaration, all new financial institutions joining the NCFA will still be required to sign up to the Declaration itself – committing to integrate natural capital risks and opportunities into their products and services, and working towards accounting and disclosure frameworks.”
The NCFA will continue to build on the NCD’s reputation as the leading finance sector initiative on natural capital, endorsed by over 90 financial institutions and supporting organisations which are actively working to develop standardised methodologies to quantify the natural capital related risks and opportunities in order to improve decision-making in the finance sector. The NCFA’s mission will also seek to address the following key questions:
1. How is natural capital relevant to the financial sector?
2. What should be taken into consideration and what are the merging and potential capacities to monitor and manage natural capital risks and opportunities?
3. How can natural capital –related dependencies and impacts be integrated into financial products, services, accounting and reporting while safeguarding the benefits of natural capital assets?
4. How can the financial sector facilitate an orderly capital shift to support the transition needed to achieve the Sustainable Development Goals (SGDs) and UNFCCC COP21 climate commitments?
Eric Usher, Head, UN Environment Finance Initiative (UNEP FI) and NCFA Co-Director, says “I welcome the name change and look forward to the NCFA continuing the exciting development of tools and methodologies which are helping the financial sector to address important natural capital risks and opportunities including water, deforestation and environmental impacts more broadly.”
To see all of the NCFA’s open source tools and methodologies to date please visit http://www.naturalcapitalfinancealliance.org/resources/
For further information or to arrange interviews, please contact:
Natural Capital Finance Alliance
Rachel Mountain, Head of Communications, Global Canopy Programme
firstname.lastname@example.org, +44 (0)1865 724 333
Notes to editors
About the Natural Capital Finance Alliance (NCFA)
The Natural Capital Finance Alliance (NCFA), formerly known as the Natural Capital Declaration, is a global finance-led initiative to integrate natural capital considerations into financial products and services, and to work towards their inclusion in financial accounting, disclosure and reporting. It is signed by the CEOs of 40 financial institutions, which are actively working with supporting (non-financial) organisations to develop methods to implement the four commitments outlined by the ‘Natural Capital Declaration’. This is being done through a steering committee of signatories and supporters and four working groups, supported by a secretariat formed of the UN Environment Finance Initiative (UNEP FI) and the Global Canopy Programme (GCP). The NCFA is actively engaging with financial institutions to develop a range of tools to facilitate integration of natural capital factors into financial products and services and strengthen management of natural resource and environment-related risks and opportunities. For more information visit www.naturalcapitalfinancealliance.org
About the UN Environment Finance Initiative (UNEP FI)
The UN Environment Finance Initiative (UNEP FI) is a unique partnership between UNEP and a global network of over 200 banks, insurers and investors from 51 countries. UNEP FI aims at creating an enabling environment for financial institutions to embed sustainable development policies into their operations, and its mission is to mainstream the integration of sustainability across the finance sector. It provides a neutral space to convene stakeholders and acts as a platform at the intersection between finance, science and policy. Visit www.unepfi.org
About the Global Canopy Programme
The Global Canopy Programme (GCP) is a tropical forest think-tank and international NGO, working to demonstrate the scientific, political and business case for safeguarding forests as natural capital that underpins water, food, energy, health and climate security for all. Our vision is a world where rainforest destruction has ended. Our mission is to accelerate the transition to a deforestation free economy.