UN COP17 Addresses Biodiversity Loss Amid Financing of Deforestation
What happened
The UN COP17 biodiversity summit is gathering in Armenia to assess progress on halting and reversing biodiversity loss. A new analysis shows that since 2020, banks have provided $595 billion to companies operating in high-risk agribusiness and metal and mineral mining sectors across tropical forest regions. Of this total, $351 billion went to agro-commodities and $244 billion went to mining.
From globalissues.org
Why it matters
These industries are primary drivers of deforestation, land degradation, and pollution across tropical forest regions in South America, Southeast Asia, and West Africa. The report exposes a fundamental weakness in how financial systems fund nature protection while simultaneously financing its destruction.
From globalissues.org
Who's involved
- United NationsHosting the UN biodiversity summit (COP17) to assess global environmental progress.
- Southeast AsiaA tropical forest region in Southeast Asia affected by deforestation driven by high-risk financing.
- South AmericaA tropical forest region in South America affected by deforestation driven by high-risk financing.
- West AfricaA tropical forest region in West Africa affected by deforestation driven by high-risk financing.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- AfricaSpeculative
Africa might face increased regulatory risk and higher capital costs for high-risk agribusiness and mining in West Africa.
- PERSEUS MINING LIMITEDSpeculative
PERSEUS MINING LIMITED could face financial risk exposure due to increased scrutiny on mining financing.
- Montage GoldSpeculative
Montage Gold could face financial risk exposure due to increased scrutiny on mining financing.
Keep exploring
The entities involved
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Southeast Asia
south-eastern region of Asia
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South America
continent located mainly in the southwestern quadrant of the Earth
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West Africa
westernmost region of the African continent