OPEN SOURCE BIODIVERSITY METRICS
F4B is exploring the potential for an open source data platform to address critical midstream data gaps related to managing nature-related risk. The idea to explore an open source data platform was born out of engagement with Refinitiv and the Future of Sustainable Data Alliance.
A complete chain of data suitable for supporting robust assessments of biodiversity-related financial risk within the finance sector does not currently exist. Upstream, high quality biodiversity data already exists on the state and trends of habitats, ecosystems and species. It has largely been publicly funded. Downstream, private financial data providers stand ready to make security-level assessments, much as they are now working towards with regards to climate-related financial risk.
The mid-stream offerings available today, connecting securities to geolocated company-level activities and then to biodiversity impact using public data, are incomplete and fail to identify company-level activity and convincingly connect this with impacts on biodiversity. If these data existed, commercial data providers could then use it to develop private products, and public bodies and stakeholders could have access for the furtherance of transparency and accountability.
Following an initial convening in 2020 we will be convening a group of stakeholders committed to exploring the feasibility and value of an open source data platform.