ADB and EBRD are both in the process of updating our safeguard policies, with ADB creating an entirely new Environmental and Social Framework (ESF) with associated Environmental and Social Standards, while EBRD is looking to update its existing Environmental and Social Policy (ESP) and associated Requirements For both organizations this process will better reflect existing and future safeguard challenges being faced. ADB and EBRD will have a dedicated Biodiversity Conservation and Sustainable Natural Resources Management standard. These standards have been drafted to reflect the development challenges of our member countries and private sector clients while still employing good international practice. 

The employment of safeguards policies for the lending of ADB, EBRD, and other MDBs, as well as Equator Principles banks, directly responds to a large number of the targets of the Kunming-Montreal Global Biodiversity Framework (KM-GBF), including Targets 4, 5, 6, 7, 9, 10, 14, 15, 17, 21, 22, and 23. Safeguards are, therefore, an essential mechanism to respond to the global biodiversity crisis. 

This session, moderated by Henrik Linders, Managing Director of Environment and Sustainability at EBRD, shared insights on the evolving Biodiversity Standards for development banks, including ADB’s ESF and EBRD’s ESP. Speakers from EBRD, ADB, WWF, GBIF, TBC, and WCMC discussed these frameworks, how they could deliver against GBF targets, and how additional tools, partnerships, and guidance could enhance and strengthen implementation. Closing thoughts were also provided from TNFD on the need for enhanced impacts and dependencies disclosures and how this could align with MDB requirements.

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