OPEN SOURCE DATA PLATFORM
F4B is working with the Green Digital Finance Alliance to explore options for developing an open source data platform to address providing access to usable data for the finance sector related to nature-related risk.
This idea came out of engagements with Refinitiv and the Future of Sustainable Data Alliance.
We identified a critical gap in the chain of data needed for robust assessments of biodiversity-related financial risk. High quality biodiversity data already exists 'upstream' on habitats, ecosystems and species. This has largely been publicly funded. At the other end of the chain, '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. But in between there is a gap in connecting data on biodiversity to geolocated company-level activities and onwards to the financial vehicles which finance them
If this gap can be bridged then could use the data to develop commercial products, and public bodies and stakeholders could have access to usable data for transparency and accountability.
Following initial convenings in 2020 F4B, working with GDFA will be bringing together a group of stakeholders to explore the feasibility and value of an open source data platform and to begin to develop it as a proof of concept.