Biodiversity finance metrics for impact reporting

This supplement to IFC’s Biodiversity Finance Reference Guide is designed to provide expanded guidance on impact reporting for eligible biodiversity finance activities. The guide builds on established recommendations outlined in the International Capital Market Association’s (ICMA’s) Green Bond Principles3 and in the Green Loan Principles4,5 to provide indicative investment activities and project components eligible for biodiversity finance. Impact reporting is one of the four core components required for alignment with the Green Bond and Loan Principles and seeks to ensure transparency and accountability. This supplement aims to facilitate effective impact reporting by offering indicative metrics for each eligible biodiversity finance activity identified in the guide. Considering the evolving landscape of sustainable finance, this document also offers preliminary considerations on the potential applicability of these metrics to sustainability-linked financing instruments. To develop this supplement, IFC collaborated with the Finance for Biodiversity Foundation, BNP Paribas, Natixis, the Taskforce on Nature-related Financial Disclosures (TNFD), and the Wildlife Conservation Society. The metrics are informed by current best practices in the market for reporting, such as the ICMA Handbook – Harmonized Framework for Impact Reporting,6 the Harmonized Indicators for Private Sector Operations,7 and the TNFD’s recommended core and additional global disclosure metrics8 as well as the TNFD’s core and additional sector metrics.

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