In 2018, IPBES (Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services) published an important and critical summary for decision makers. The Dasgupta Review (The Economics of Biodiversity) from 2021 also plays a central role. A key insight was that we have so far been able to decouple economic growth from the loss of biodiversity only to a very limited extent. This important recognition is a contributing factor in efforts to take a closer look at the financial sector and its role in stopping and reversing the local loss of biodiversity.
Purpose of the project
The project will primarily examine the Nordic financial institutions (NEFCO, NDF, NIB), evaluate whether they can play a positive role, and look at which tools and approaches could best help ensure that their investments are in line with the global goals for conservation and the sustainable use of biodiversity. The findings should also be of general interest to other stakeholders, such as public authorities. Specifically, the project will cover the following issues:
- What is the status globally, in the EU, and the Nordic Region in terms of analytical tools and public and private strategies that will ensure that private and public investment promotes, not weakens, biodiversity? The project shall provide a description and, if possible, a brief evaluation of the most important approaches.
- How consciously do the Nordic financial institutions (NEFCO, NDF, NIB) work with biodiversity to ensure that they promote, not weaken, biological diversity? Do they use any of the approaches described above, or others? Can they step up their efforts, and if so, how?
- How active are the Nordic financial institutions in financing nature-based climate solutions?
- How do the institutions see themselves? More specifically, how do the institutions follow up on and use the EU’s taxonomy in their biodiversity work?
- Extensive subsidies are still given to activities that harm biodiversity. Do the financial institutions have an overview of their possible involvement in projects that benefit from such subsidies, and do they have a policy towards such projects?
Although tenderers should design their project proposal to include the above points, they also have the opportunity to put forward their own issues or other topics relevant in the broader context.
The budget framework for the project is DKK 400,000 (incl. VAT). The budget should cover standard project expenses as well as travel and communications.
The NME and NBM working groups at the Nordic Council of Ministers must receive tenders no later than 15:00 CET on 29 June 2022. All documents must be submitted by this deadline. Material received after this date will not be taken into consideration. A decision will be made in early July, and all applicants will be informed of it. The date for the report will be set in the project contract.
Applications must be e-mailed to NME’s administrative body (email@example.com). The project description/application form and compulsory budget form must all be in one of the Nordic languages. Applications must cite the journal number EPOELY/3775/2021
Link to budget schedule: Budget schedule
The link to the call for tenders can be found at: https://www.norden.org/en/funding-opportunities
Please also send additional appendices describing the factors which we take into consideration, e.g. an independent project description, CVs, schedule and plan for how the results are to be communicated.
In assessing the tenderers, emphasis will be placed on:
- the structure and planning of the work, including methodology and how relevant data will be collected and processed;
- the timetable;
- the distribution of responsibilities, use of time, general skills, and qualifications of those managing and implementing the project;
- the tenderer’s previous experience in the area;
- the Nordic contacts and networks that will be used in the project and fluency in the Nordic languages;
- the expenditure for the proposed project period, including hourly rates and other expenses; and
- the planned dissemination of the project.
Further information about funding from the Nordic Council of Ministers is available here:
NME and NBM will assess the applications and choose the successful one. The working group reserves the right to reject all applications.
See appendix: “Anbudsinbjudan_Biodiversitet_och_Finansiering_final.docx” for further details about project content and financing requirements.