Six months since its adoption, banks and financiers have yet to develop concrete plans to implement the Kunming-Montreal Global Biodiversity Framework (GBF).

Today 62 civil society organizations and networks – whose members include over 370 groups across 85+ countries on six continents – have sent an open letter to the Taskforce on Nature-related Financial Disclosures (TNFD) highlighting that its final draft fails to address some of its worst flaws that will facilitate greenwashing.

Mounting pressure from climate and human rights activists has led numerous lenders to back out of the controversial East African Crude Oil Pipeline (EACOP) project. This month, Standard Chartered Bank and Sumitomo Mitsui Banking Corporation (SMBC) ruled out of financing the project, adding to the list of 25 banks and 23 insurance companies that have publicly committed to not support EACOP.

The Forests & Finance coalition published a blog with a summary of key issues regarding the Taskforce on Nature-related Financial Disclosures (TNFD).

Justiça Ambiental (JA!), ReCommon, BankTrack and Friends of the Earth France have published a blog on the potential financiers of the Rovuma LNG project. The groups contacted potential financiers and asked them to rule out financing for Rovuma LNG. BNP Paribas and UniCredit are the first two banks to rule out finance.