Reply To: Questions on Module 2: Governing the Nexus

[Penelope]

Hello IUCN – or anyone else on the course!

Sorry for my late question on this thread. But in relation to the governance of the nature finance nexus, I was wondering how the World Bank Environmental and Social Framework (ESF) and specifically ESS6: Biodiversity, Conservation and Sustainable Management of Living Natural Resources interact with the governance frameworks for financial market participants such as SFDR and Taxonomy Regulations and those for corporates/ real economy such as the CRSD and the emerging CSSD?

https://www.worldbank.org/en/projects-operations/environmental-and-social-framework

https://documents1.worldbank.org/curated/en/924371530217086973/ESF-Guidance-Note-6-Biodiversity-Conservation-English.pdf

I can see more clearly how they respond to some of the global Conventions and Treaties discussed in Module 2 and the Bank’s objectives in relation to these, perhaps because I am more familiar with those than the Nature-Finance-Nexus related focused governance frameworks. But didn’t see any mention of how development finance interacts with these frameworks and standards in Module 2 course materials.

Perhaps the answer to this is for more reading on my part! But any ideas or thoughts from course leaders or participants would be welcomed….

worldbank.org

Environmental and Social Framework (ESF)

The Environmental and Social Framework (ESF) enables the World Bank and Borrowers to better manage environmental and social risks of projects and to improve development outcomes.