Banks are financing biodiversity loss through loans and underwriting to companies in the sectors responsible for nature destruction. For example, in 2019, the world’s largest banks invested over USD $2.6 trillion in the sectors that primarily drive biodiversity destruction.
According to the Bankrolling Extinction report, the average finance that each bank gives is USD $52 billion. Yet, not a single bank among the 50 largest sufficiently measures or monitors the impacts of its activity on biodiversity. Therefore, they lack practical policies and governance frameworks to prevent this harm.