{"disclaimer":"Transcripts available through this tool are created by using automatic speech recognition and are not official records nor official documents of the United Nations. Official records and official documents are available on the Official Document System of the United Nations.","url":"https://transcripts.un.org/ru/asset/k1x/k1x28qu6du?lang=en","llms":{"note":"Plain-text sibling of this page, compact for LLM context. 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report itself is now available online in its entirety.","start":1169.15,"end":1173.23,"topics":[],"words":[{"text":"The","start":1169.15,"end":1169.27},{"text":"report","start":1169.27,"end":1169.59},{"text":"itself","start":1169.59,"end":1170.11},{"text":"is","start":1170.43,"end":1170.63},{"text":"now","start":1170.63,"end":1170.87},{"text":"available","start":1170.87,"end":1171.55},{"text":"online","start":1171.55,"end":1172.19},{"text":"in","start":1172.19,"end":1172.43},{"text":"its","start":1172.43,"end":1172.59},{"text":"entirety.","start":1172.59,"end":1173.23}]},{"text":"It is over 100 pages, so we do have the executive summary available in printed form, which is just eight 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we're going to start today with Meryl van der Mark, who is the coordinator of the Forests and Finance 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this report, every year, we map and bring transparency to the financial flows to the largest tropical forest risk commodity companies.","start":1203.79,"end":1213.39,"topics":[{"key":"harmful-financial-flows","label":"Harmful Financial Flows","description":"A major theme was the large volume of bank lending and investment still flowing to sectors linked to biodiversity loss, including forest-risk commodities and mining. 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Speakers linked these sectors to corporate profit, ecosystem destruction, and transboundary impacts such as haze."}],"words":[{"text":"In","start":1203.79,"end":1203.95},{"text":"this","start":1203.95,"end":1204.27},{"text":"report,","start":1204.51,"end":1205.07},{"text":"every","start":1205.07,"end":1205.35},{"text":"year,","start":1205.35,"end":1205.71},{"text":"we","start":1205.79,"end":1206.19},{"text":"map","start":1206.43,"end":1206.83},{"text":"and","start":1206.83,"end":1207.03},{"text":"bring","start":1207.03,"end":1207.23},{"text":"transparency","start":1207.23,"end":1208.11},{"text":"to","start":1208.59,"end":1208.71},{"text":"the","start":1208.71,"end":1208.79},{"text":"financial","start":1208.79,"end":1209.31},{"text":"flows","start":1209.31,"end":1209.95},{"text":"to","start":1210.03,"end":1210.19},{"text":"the","start":1210.19,"end":1210.27},{"text":"largest","start":1210.27,"end":1210.83},{"text":"tropical","start":1211.07,"end":1211.55},{"text":"forest","start":1211.55,"end":1211.91},{"text":"risk","start":1211.91,"end":1212.31},{"text":"commodity","start":1212.31,"end":1212.75},{"text":"companies.","start":1212.75,"end":1213.39}]},{"text":"This year, we mapped over almost 600 billion US dollars flowing to soft and hard commodity companies operating in the tropical regions from 2020 till 2026.","start":1214.11,"end":1226.99,"topics":[{"key":"harmful-financial-flows","label":"Harmful Financial Flows","description":"A major theme was the large volume of bank lending and investment still flowing to sectors linked to biodiversity loss, including forest-risk commodities and mining. 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Speakers linked these sectors to corporate profit, ecosystem destruction, and transboundary impacts such as haze."}],"words":[{"text":"This","start":1214.11,"end":1214.39},{"text":"year,","start":1214.39,"end":1214.75},{"text":"we","start":1214.75,"end":1214.91},{"text":"mapped","start":1214.91,"end":1215.31},{"text":"over","start":1215.95,"end":1216.35},{"text":"almost","start":1216.43,"end":1216.75},{"text":"600","start":1216.75,"end":1217.55},{"text":"billion","start":1217.55,"end":1218.43},{"text":"US","start":1218.43,"end":1218.59},{"text":"dollars","start":1218.59,"end":1219.23},{"text":"flowing","start":1219.63,"end":1220.19},{"text":"to","start":1220.19,"end":1220.59},{"text":"soft","start":1220.83,"end":1221.27},{"text":"and","start":1221.27,"end":1221.39},{"text":"hard","start":1221.39,"end":1221.71},{"text":"commodity","start":1221.71,"end":1222.11},{"text":"companies","start":1222.11,"end":1222.67},{"text":"operating","start":1222.67,"end":1223.15},{"text":"in","start":1223.15,"end":1223.23},{"text":"the","start":1223.23,"end":1223.35},{"text":"tropical","start":1223.35,"end":1223.71},{"text":"regions","start":1223.71,"end":1224.27},{"text":"from","start":1224.67,"end":1224.91},{"text":"2020","start":1224.91,"end":1225.39},{"text":"till","start":1225.39,"end":1225.87},{"text":"2026.","start":1226.03,"end":1226.99}]},{"text":"We also see a very worrying trend of increasing finance to these sectors.","start":1227.95,"end":1234.03,"topics":[{"key":"harmful-financial-flows","label":"Harmful Financial Flows","description":"A major theme was the large volume of bank lending and investment still flowing to sectors linked to biodiversity loss, including forest-risk commodities and mining. 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Speakers linked these sectors to corporate profit, ecosystem destruction, and transboundary impacts such as haze."}],"words":[{"text":"We","start":1227.95,"end":1228.15},{"text":"also","start":1228.15,"end":1228.43},{"text":"see","start":1228.47,"end":1228.63},{"text":"a","start":1228.63,"end":1228.67},{"text":"very","start":1228.67,"end":1229.15},{"text":"worrying","start":1229.15,"end":1229.79},{"text":"trend","start":1229.79,"end":1230.15},{"text":"of","start":1230.15,"end":1230.27},{"text":"increasing","start":1230.27,"end":1230.99},{"text":"finance","start":1230.99,"end":1231.55},{"text":"to","start":1231.55,"end":1231.71},{"text":"these","start":1231.71,"end":1232.11},{"text":"sectors.","start":1233.31,"end":1234.03}]},{"text":"The beef sector increased by more than 50% since 2016.","start":1234.91,"end":1239.31,"topics":[{"key":"deforestation-risk-commodities","label":"Deforestation-Risk Commodities","description":"Industrial commodity sectors such as palm oil, soy, beef, and pulp and paper were identified as key drivers of tropical deforestation, forest fires, and biodiversity decline. Speakers linked these sectors to corporate profit, ecosystem destruction, and transboundary impacts such as haze."}],"words":[{"text":"The","start":1234.91,"end":1235.07},{"text":"beef","start":1235.07,"end":1235.31},{"text":"sector","start":1235.31,"end":1235.71},{"text":"increased","start":1235.71,"end":1236.23},{"text":"by","start":1236.23,"end":1236.51},{"text":"more","start":1236.67,"end":1237.55},{"text":"than","start":1237.59,"end":1237.87},{"text":"50%","start":1237.87,"end":1237.91},{"text":"since","start":1237.91,"end":1238.19},{"text":"2016.","start":1238.19,"end":1239.31}]},{"text":"More worryingly, the soy sector and the pulp and paper sector have increased more than 100% since 2016.","start":1240.03,"end":1248.03,"topics":[{"key":"deforestation-risk-commodities","label":"Deforestation-Risk Commodities","description":"Industrial commodity sectors such as palm oil, soy, beef, and pulp and paper were identified as key drivers of tropical deforestation, forest fires, and biodiversity decline. 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Speakers linked these sectors to corporate profit, ecosystem destruction, and transboundary impacts such as haze."},{"key":"financial-regulation-gaps","label":"Financial Regulation Gaps","description":"Several speakers argued that current rules are too weak to stop financing for deforestation, ecosystem conversion, and other environmental harms. 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They called for binding regulation, due diligence, stronger supervision, and accountability under the Global Biodiversity Framework rather than relying on voluntary commitments alone."}],"words":[{"text":"So","start":1309.63,"end":1309.79},{"text":"there's","start":1309.91,"end":1310.75},{"text":"not","start":1311.63,"end":1311.95},{"text":"much","start":1311.95,"end":1312.11},{"text":"in","start":1312.11,"end":1312.27},{"text":"place","start":1312.27,"end":1312.63},{"text":"to","start":1312.63,"end":1312.71},{"text":"stop","start":1312.71,"end":1312.99},{"text":"them","start":1312.99,"end":1313.31},{"text":"from","start":1313.31,"end":1313.71},{"text":"continuing","start":1313.87,"end":1314.39},{"text":"these","start":1314.39,"end":1314.51},{"text":"financial","start":1314.51,"end":1314.99},{"text":"flows.","start":1314.99,"end":1315.55}]},{"text":"And that is why we strongly believe we need stronger financial regulations to protect biodiversity.","start":1316.07,"end":1321.67,"topics":[{"key":"financial-regulation-gaps","label":"Financial Regulation Gaps","description":"Several speakers argued that current rules are too weak to stop financing for deforestation, ecosystem conversion, and other environmental harms. 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They called for binding regulation, due diligence, stronger supervision, and accountability under the Global Biodiversity Framework rather than relying on voluntary commitments alone."}],"words":[{"text":"There's","start":1467.35,"end":1467.63},{"text":"been","start":1467.63,"end":1467.87},{"text":"some","start":1467.87,"end":1468.11},{"text":"developments","start":1468.11,"end":1468.91},{"text":"in","start":1468.91,"end":1469.31},{"text":"sustainable","start":1469.31,"end":1469.87},{"text":"finance,","start":1469.87,"end":1470.27},{"text":"taxonomies","start":1470.27,"end":1471.31},{"text":"and","start":1472.11,"end":1472.23},{"text":"disclosure","start":1472.23,"end":1472.91},{"text":"requirements,","start":1473.07,"end":1473.87},{"text":"but","start":1474.03,"end":1474.15},{"text":"there's","start":1474.23,"end":1474.51},{"text":"a","start":1474.51,"end":1474.55},{"text":"fundamental","start":1474.55,"end":1475.19},{"text":"distinction","start":1475.19,"end":1475.79},{"text":"to","start":1475.79,"end":1475.87},{"text":"be","start":1475.87,"end":1476.03},{"text":"made","start":1476.03,"end":1476.43},{"text":"between","start":1476.43,"end":1476.99},{"text":"recognizing","start":1477.15,"end":1477.91},{"text":"a","start":1477.91,"end":1477.95},{"text":"problem","start":1477.95,"end":1478.51},{"text":"and","start":1479.27,"end":1479.43},{"text":"actually","start":1479.43,"end":1479.79},{"text":"changing","start":1479.79,"end":1480.51},{"text":"the","start":1480.51,"end":1480.63},{"text":"financial","start":1480.63,"end":1481.19},{"text":"rules","start":1481.19,"end":1481.63},{"text":"to","start":1481.63,"end":1481.79},{"text":"change","start":1481.79,"end":1482.11},{"text":"financial","start":1482.11,"end":1482.55},{"text":"behavior.","start":1482.55,"end":1483.07}]},{"text":"A bank can disclose its exposure to deforestation, publish biodiversity policies, report on those risks, yet they can also continue financing that destruction and profiting very well from it.","start":1483.63,"end":1497.31,"topics":[{"key":"harmful-financial-flows","label":"Harmful Financial Flows","description":"A major theme was the large volume of bank lending and investment still flowing to sectors linked to biodiversity loss, including forest-risk commodities and mining. 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They called for binding regulation, due diligence, stronger supervision, and accountability under the Global Biodiversity Framework rather than relying on voluntary commitments alone."}],"words":[{"text":"A","start":1483.63,"end":1483.71},{"text":"bank","start":1483.71,"end":1484.07},{"text":"can","start":1484.07,"end":1484.27},{"text":"disclose","start":1484.51,"end":1484.99},{"text":"its","start":1484.99,"end":1485.19},{"text":"exposure","start":1485.19,"end":1485.75},{"text":"to","start":1485.75,"end":1485.83},{"text":"deforestation,","start":1485.83,"end":1486.83},{"text":"publish","start":1486.83,"end":1487.23},{"text":"biodiversity","start":1487.23,"end":1487.95},{"text":"policies,","start":1487.95,"end":1488.67},{"text":"report","start":1489.07,"end":1489.51},{"text":"on","start":1489.51,"end":1489.63},{"text":"those","start":1489.63,"end":1489.87},{"text":"risks,","start":1489.87,"end":1490.43},{"text":"yet","start":1491.55,"end":1491.95},{"text":"they","start":1493.07,"end":1493.23},{"text":"can","start":1493.23,"end":1493.39},{"text":"also","start":1493.39,"end":1493.63},{"text":"continue","start":1493.63,"end":1494.03},{"text":"financing","start":1494.03,"end":1494.59},{"text":"that","start":1494.59,"end":1494.71},{"text":"destruction","start":1494.71,"end":1495.27},{"text":"and","start":1495.27,"end":1495.39},{"text":"profiting","start":1495.39,"end":1495.95},{"text":"very","start":1496.27,"end":1496.51},{"text":"well","start":1496.51,"end":1496.83},{"text":"from","start":1496.83,"end":1497.07},{"text":"it.","start":1497.07,"end":1497.31}]},{"text":"Much of the current regulatory debate is about protecting financial institutions from the risks of biodiversity loss to their business.","start":1498.11,"end":1507.07,"topics":[{"key":"financial-regulation-gaps","label":"Financial Regulation Gaps","description":"Several speakers argued that current rules are too weak to stop financing for deforestation, ecosystem conversion, and other environmental harms. 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Speakers warned that finance systems currently protect investors more effectively than the communities, workers, and ecosystems harmed by destructive investments."}],"words":[{"text":"Much","start":1498.11,"end":1498.39},{"text":"of","start":1498.39,"end":1498.51},{"text":"the","start":1498.51,"end":1498.63},{"text":"current","start":1498.63,"end":1499.23},{"text":"regulatory","start":1499.23,"end":1499.79},{"text":"debate","start":1499.79,"end":1500.35},{"text":"is","start":1500.67,"end":1500.91},{"text":"about","start":1500.91,"end":1501.31},{"text":"protecting","start":1501.31,"end":1501.79},{"text":"financial","start":1501.79,"end":1502.27},{"text":"institutions","start":1502.27,"end":1503.39},{"text":"from","start":1503.71,"end":1503.95},{"text":"the","start":1503.95,"end":1504.07},{"text":"risks","start":1504.07,"end":1504.59},{"text":"of","start":1504.71,"end":1504.83},{"text":"biodiversity","start":1504.83,"end":1505.79},{"text":"loss","start":1505.79,"end":1506.11},{"text":"to","start":1506.11,"end":1506.23},{"text":"their","start":1506.23,"end":1506.43},{"text":"business.","start":1506.43,"end":1507.07}]},{"text":"But what about protecting biodiversity and the people who depend on it from the impacts of financial institutions?","start":1507.87,"end":1514.51,"topics":[{"key":"rights-based-finance","label":"Rights-Based Finance","description":"The discussion also focused on the need to build human rights, indigenous rights, land rights, and access to remedy into biodiversity finance and financial regulation. 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Speakers argued that biodiversity destruction is being enabled not only by companies on the ground but also by the financial institutions behind them."}],"words":[{"text":"That's","start":1514.99,"end":1515.27},{"text":"the","start":1515.27,"end":1515.39},{"text":"imbalance","start":1515.39,"end":1515.91},{"text":"that","start":1515.91,"end":1516.07},{"text":"our","start":1516.07,"end":1516.19},{"text":"report","start":1516.19,"end":1516.63},{"text":"is","start":1516.63,"end":1516.75},{"text":"exposing","start":1516.75,"end":1517.51},{"text":"and","start":1517.59,"end":1517.71},{"text":"what","start":1517.71,"end":1517.87},{"text":"we're","start":1517.87,"end":1518.03},{"text":"witnessing","start":1518.03,"end":1518.63},{"text":"here","start":1518.79,"end":1519.19},{"text":"in","start":1519.43,"end":1519.59},{"text":"the","start":1519.59,"end":1519.71},{"text":"CPD","start":1519.71,"end":1520.15},{"text":"negotiations.","start":1520.15,"end":1521.27}]},{"text":"And we're not talking about just a marginal part of the economy, as Meryl highlighted and UNEP has given global figures on, we're talking about very significant sums of finance globally.","start":1521.31,"end":1531.91,"topics":[{"key":"harmful-financial-flows","label":"Harmful Financial Flows","description":"A major theme was the large volume of bank lending and investment still flowing to sectors linked to biodiversity loss, including forest-risk commodities and mining. 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Speakers warned that finance systems currently protect investors more effectively than the communities, workers, and ecosystems harmed by destructive investments."},{"key":"financial-regulation-gaps","label":"Financial Regulation Gaps","description":"Several speakers argued that current rules are too weak to stop financing for deforestation, ecosystem conversion, and other environmental harms. 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They called for binding regulation, due diligence, stronger supervision, and accountability under the Global Biodiversity Framework rather than relying on voluntary commitments alone."}],"words":[{"text":"First,","start":1557.87,"end":1558.27},{"text":"transparency","start":1558.27,"end":1558.99},{"text":"needs","start":1558.99,"end":1559.31},{"text":"to","start":1559.31,"end":1559.47},{"text":"lead","start":1559.47,"end":1559.71},{"text":"to","start":1559.71,"end":1559.83},{"text":"accountability.","start":1559.83,"end":1560.91}]},{"text":"Financial institutions should not only disclose where their money goes, but also its impacts and what they are doing to address them.","start":1560.99,"end":1567.95,"topics":[{"key":"financial-regulation-gaps","label":"Financial Regulation Gaps","description":"Several speakers argued that current rules are too weak to stop financing for deforestation, ecosystem conversion, and other environmental harms. 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They called for binding regulation, due diligence, stronger supervision, and accountability under the Global Biodiversity Framework rather than relying on voluntary commitments alone."},{"key":"rights-based-finance","label":"Rights-Based Finance","description":"The discussion also focused on the need to build human rights, indigenous rights, land rights, and access to remedy into biodiversity finance and financial regulation. Speakers warned that finance systems currently protect investors more effectively than the communities, workers, and ecosystems harmed by destructive investments."}],"words":[{"text":"Second,","start":1568.11,"end":1568.75},{"text":"governments","start":1568.75,"end":1569.31},{"text":"need","start":1569.31,"end":1569.55},{"text":"binding","start":1569.55,"end":1570.11},{"text":"due","start":1570.11,"end":1570.35},{"text":"diligence","start":1570.35,"end":1570.95},{"text":"and","start":1570.95,"end":1571.07},{"text":"financing","start":1571.07,"end":1571.63},{"text":"rules","start":1571.63,"end":1572.11},{"text":"across","start":1572.11,"end":1572.43},{"text":"lending,","start":1572.43,"end":1572.99},{"text":"underwriting","start":1572.99,"end":1573.79},{"text":"and","start":1573.79,"end":1573.95},{"text":"investment,","start":1573.95,"end":1574.59},{"text":"including","start":1574.91,"end":1575.55},{"text":"restrictions","start":1575.55,"end":1576.27},{"text":"where","start":1576.27,"end":1576.51},{"text":"serious","start":1576.51,"end":1576.83},{"text":"environmental","start":1576.83,"end":1577.55},{"text":"and","start":1577.55,"end":1577.67},{"text":"human","start":1577.67,"end":1577.95},{"text":"rights","start":1577.95,"end":1578.23},{"text":"harms","start":1578.23,"end":1578.75},{"text":"are","start":1580.19,"end":1580.35},{"text":"observed.","start":1580.35,"end":1580.91}]},{"text":"Third, biodiversity needs to become part of mainstream financial regulation, including the rules used by financial supervisors, central banks and finance ministries.","start":1582.35,"end":1592.19,"topics":[{"key":"financial-regulation-gaps","label":"Financial Regulation Gaps","description":"Several speakers argued that current rules are too weak to stop financing for deforestation, ecosystem conversion, and other environmental harms. They called for binding regulation, due diligence, stronger supervision, and accountability under the Global Biodiversity Framework rather than relying on voluntary commitments alone."}],"words":[{"text":"Third,","start":1582.35,"end":1582.75},{"text":"biodiversity","start":1582.75,"end":1583.47},{"text":"needs","start":1583.47,"end":1583.79},{"text":"to","start":1583.79,"end":1583.87},{"text":"become","start":1583.87,"end":1584.27},{"text":"part","start":1584.27,"end":1584.55},{"text":"of","start":1584.55,"end":1584.67},{"text":"mainstream","start":1584.67,"end":1585.31},{"text":"financial","start":1585.31,"end":1585.75},{"text":"regulation,","start":1585.75,"end":1586.51},{"text":"including","start":1586.51,"end":1586.99},{"text":"the","start":1586.99,"end":1587.11},{"text":"rules","start":1587.11,"end":1587.95},{"text":"used","start":1587.95,"end":1588.35},{"text":"by","start":1588.35,"end":1588.51},{"text":"financial","start":1588.51,"end":1589.03},{"text":"supervisors,","start":1589.03,"end":1590.03},{"text":"central","start":1590.03,"end":1590.47},{"text":"banks","start":1590.47,"end":1590.83},{"text":"and","start":1590.83,"end":1590.95},{"text":"finance","start":1590.95,"end":1591.39},{"text":"ministries.","start":1591.39,"end":1592.19}]},{"text":"And fourth, these reforms must be grounded in rights with meaningful participation by affected communities and other stakeholders with clear access to remedy and consequences for noncompliance.","start":1592.79,"end":1605.79,"topics":[{"key":"rights-based-finance","label":"Rights-Based Finance","description":"The discussion also focused on the need to build human rights, indigenous rights, land rights, and access to remedy into biodiversity finance and financial regulation. 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They called for binding regulation, due diligence, stronger supervision, and accountability under the Global Biodiversity Framework rather than relying on voluntary commitments alone."}],"words":[{"text":"And","start":1592.79,"end":1592.91},{"text":"fourth,","start":1592.91,"end":1593.31},{"text":"these","start":1593.63,"end":1593.87},{"text":"reforms","start":1593.87,"end":1594.43},{"text":"must","start":1594.43,"end":1594.63},{"text":"be","start":1594.63,"end":1594.75},{"text":"grounded","start":1594.75,"end":1595.31},{"text":"in","start":1595.31,"end":1595.55},{"text":"rights","start":1595.55,"end":1596.11},{"text":"with","start":1596.27,"end":1596.51},{"text":"meaningful","start":1596.51,"end":1596.95},{"text":"participation","start":1596.95,"end":1597.87},{"text":"by","start":1598.19,"end":1598.59},{"text":"affected","start":1599.23,"end":1599.71},{"text":"communities","start":1599.71,"end":1600.27},{"text":"and","start":1600.27,"end":1600.47},{"text":"other","start":1600.47,"end":1600.63},{"text":"stakeholders","start":1600.63,"end":1601.55},{"text":"with","start":1601.71,"end":1601.95},{"text":"clear","start":1601.95,"end":1602.43},{"text":"access","start":1602.59,"end":1602.99},{"text":"to","start":1602.99,"end":1603.11},{"text":"remedy","start":1603.11,"end":1603.71},{"text":"and","start":1603.79,"end":1603.95},{"text":"consequences","start":1603.95,"end":1604.71},{"text":"for","start":1604.71,"end":1604.83},{"text":"noncompliance.","start":1604.83,"end":1605.79}]},{"text":"None of this replaces the need for substantially more public finance for biodiversity, particularly the flow of finance committed by developed countries to developing countries under this framework.","start":1606.35,"end":1617.71,"topics":[{"key":"harmful-financial-flows","label":"Harmful Financial Flows","description":"A major theme was the large volume of bank lending and investment still flowing to sectors linked to biodiversity loss, including forest-risk commodities and mining. Speakers argued that biodiversity destruction is being enabled not only by companies on the ground but also by the financial institutions behind them."}],"words":[{"text":"None","start":1606.35,"end":1606.55},{"text":"of","start":1606.55,"end":1606.63},{"text":"this","start":1606.63,"end":1606.83},{"text":"replaces","start":1606.83,"end":1607.55},{"text":"the","start":1607.55,"end":1607.63},{"text":"need","start":1607.63,"end":1607.95},{"text":"for","start":1607.95,"end":1608.27},{"text":"substantially","start":1608.27,"end":1608.99},{"text":"more","start":1608.99,"end":1609.31},{"text":"public","start":1609.31,"end":1609.71},{"text":"finance","start":1609.71,"end":1610.27},{"text":"for","start":1610.27,"end":1610.39},{"text":"biodiversity,","start":1610.39,"end":1611.31},{"text":"particularly","start":1611.63,"end":1612.27},{"text":"the","start":1612.27,"end":1612.39},{"text":"flow","start":1612.39,"end":1612.91},{"text":"of","start":1613.07,"end":1613.23},{"text":"finance","start":1613.23,"end":1613.87},{"text":"committed","start":1613.87,"end":1614.27},{"text":"by","start":1614.27,"end":1614.43},{"text":"developed","start":1614.43,"end":1614.91},{"text":"countries","start":1614.91,"end":1615.47},{"text":"to","start":1615.47,"end":1615.59},{"text":"developing","start":1615.59,"end":1616.07},{"text":"countries","start":1616.07,"end":1616.59},{"text":"under","start":1616.59,"end":1616.87},{"text":"this","start":1616.87,"end":1616.99},{"text":"framework.","start":1616.99,"end":1617.71}]},{"text":"Those international obligations remain critical, but additional conservation finance cannot compensate for leaving these much larger harmful flows untouched.","start":1618.59,"end":1629.55,"topics":[{"key":"harmful-financial-flows","label":"Harmful Financial Flows","description":"A major theme was the large volume of bank lending and investment still flowing to sectors linked to biodiversity loss, including forest-risk commodities and mining. Speakers argued that biodiversity destruction is being enabled not only by companies on the ground but also by the financial institutions behind them."}],"words":[{"text":"Those","start":1618.59,"end":1618.79},{"text":"international","start":1618.79,"end":1619.83},{"text":"obligations","start":1619.83,"end":1620.51},{"text":"remain","start":1620.51,"end":1620.75},{"text":"critical,","start":1620.75,"end":1621.39},{"text":"but","start":1621.79,"end":1621.99},{"text":"additional","start":1621.99,"end":1622.51},{"text":"conservation","start":1622.51,"end":1623.31},{"text":"finance","start":1623.31,"end":1623.79},{"text":"cannot","start":1623.79,"end":1624.35},{"text":"compensate","start":1624.35,"end":1625.15},{"text":"for","start":1625.31,"end":1625.55},{"text":"leaving","start":1625.55,"end":1625.95},{"text":"these","start":1625.95,"end":1626.19},{"text":"much","start":1627.07,"end":1627.39},{"text":"larger","start":1627.39,"end":1627.83},{"text":"harmful","start":1627.83,"end":1628.27},{"text":"flows","start":1628.27,"end":1628.75},{"text":"untouched.","start":1628.75,"end":1629.55}]},{"text":"So coming to COP17 specifically and the global review, it's an opportunity to recognize that the implementation gap is not a finance gap, it is a regulatory gap.","start":1630.47,"end":1641.11,"topics":[{"key":"financial-regulation-gaps","label":"Financial Regulation Gaps","description":"Several speakers argued that current rules are too weak to stop financing for deforestation, ecosystem conversion, and other environmental harms. 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They called for binding regulation, due diligence, stronger supervision, and accountability under the Global Biodiversity Framework rather than relying on voluntary commitments alone."}],"words":[{"text":"Target","start":1642.39,"end":1642.75},{"text":"14","start":1642.75,"end":1643.27},{"text":"already","start":1643.27,"end":1643.55},{"text":"provides","start":1643.55,"end":1644.03},{"text":"a","start":1644.03,"end":1644.07},{"text":"mandate","start":1644.07,"end":1644.55},{"text":"for","start":1644.55,"end":1644.71},{"text":"the","start":1644.71,"end":1644.91},{"text":"action,","start":1644.91,"end":1645.43},{"text":"along","start":1646.07,"end":1646.39},{"text":"with","start":1646.39,"end":1646.55},{"text":"other","start":1646.55,"end":1646.71},{"text":"targets,","start":1646.71,"end":1647.19},{"text":"15,","start":1647.19,"end":1647.75},{"text":"18,","start":1647.75,"end":1648.07},{"text":"and","start":1648.07,"end":1648.19},{"text":"19,","start":1648.19,"end":1648.71},{"text":"also","start":1648.71,"end":1649.03},{"text":"dealing","start":1649.03,"end":1649.35},{"text":"with","start":1649.35,"end":1649.51},{"text":"aspects","start":1649.51,"end":1649.91},{"text":"of","start":1649.91,"end":1649.99},{"text":"finance.","start":1649.99,"end":1650.79}]},{"text":"But we do need to bring finance ministries, central banks, and financial regulators into coordination with CBD negotiators to ensure the implementation of target 14.","start":1651.27,"end":1665.55,"topics":[{"key":"financial-regulation-gaps","label":"Financial Regulation Gaps","description":"Several speakers argued that current rules are too weak to stop financing for deforestation, ecosystem conversion, and other environmental harms. 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They called for binding regulation, due diligence, stronger supervision, and accountability under the Global Biodiversity Framework rather than relying on voluntary commitments alone."}],"words":[{"text":"Governments","start":1665.55,"end":1666.67},{"text":"cannot","start":1666.67,"end":1667.07},{"text":"claim","start":1667.07,"end":1667.47},{"text":"to","start":1667.47,"end":1667.59},{"text":"be","start":1667.59,"end":1667.71},{"text":"aligning","start":1667.71,"end":1668.19},{"text":"finance","start":1668.19,"end":1668.59},{"text":"with","start":1668.59,"end":1668.75},{"text":"biodiversity","start":1668.75,"end":1669.47},{"text":"goals","start":1669.47,"end":1669.95},{"text":"while","start":1670.15,"end":1670.51},{"text":"leaving","start":1670.51,"end":1670.83},{"text":"the","start":1670.83,"end":1670.95},{"text":"rules","start":1670.95,"end":1671.31},{"text":"governing","start":1671.31,"end":1671.79},{"text":"destructive","start":1671.79,"end":1672.43},{"text":"finance","start":1672.43,"end":1673.07},{"text":"unchanged.","start":1673.07,"end":1673.87}]},{"text":"Thanks.","start":1675.19,"end":1675.47,"topics":[],"words":[{"text":"Thanks.","start":1675.19,"end":1675.47}]}]}],"speaker":{"affiliation":"Rainforest Action Network","group":null,"function":"Forests and Finance Policy Director","affiliation_full":"Rainforest Action Network"}},{"statement_number":10,"start":1677.15,"pageUrl":"/ru/asset/k1x/k1x28qu6du?lang=en&t=27:58","paragraphs":[{"sentences":[{"text":"Thank you, Tom. Our next speaker is the Executive Director of TUC Indonesia, Linda Rosalina.","start":1677.15,"end":1682.83,"topics":[],"words":[{"text":"Thank","start":1677.15,"end":1677.39},{"text":"you,","start":1677.39,"end":1677.47},{"text":"Tom.","start":1677.47,"end":1677.87},{"text":"Our","start":1678.27,"end":1678.75},{"text":"next","start":1678.75,"end":1679.07},{"text":"speaker","start":1679.07,"end":1679.55},{"text":"is","start":1679.55,"end":1679.83},{"text":"the","start":1679.83,"end":1679.91},{"text":"Executive","start":1679.91,"end":1680.35},{"text":"Director","start":1680.35,"end":1680.83},{"text":"of","start":1680.83,"end":1680.91},{"text":"TUC","start":1680.91,"end":1681.23},{"text":"Indonesia,","start":1681.23,"end":1681.87},{"text":"Linda","start":1681.99,"end":1682.27},{"text":"Rosalina.","start":1682.27,"end":1682.83}]}]}],"speaker":{"affiliation":"Rainforest Action Network","group":null,"function":"Moderator","affiliation_full":"Rainforest Action Network"}},{"statement_number":11,"start":1685.35,"pageUrl":"/ru/asset/k1x/k1x28qu6du?lang=en&t=28:06","paragraphs":[{"sentences":[{"text":"Hello, everyone.","start":1685.35,"end":1686.31,"topics":[],"words":[{"text":"Hello,","start":1685.35,"end":1685.71},{"text":"everyone.","start":1685.71,"end":1686.31}]},{"text":"My name is Linda Rosalina.","start":1686.39,"end":1688.15,"topics":[],"words":[{"text":"My","start":1686.39,"end":1686.63},{"text":"name","start":1686.63,"end":1686.87},{"text":"is","start":1686.87,"end":1687.11},{"text":"Linda","start":1687.11,"end":1687.55},{"text":"Rosalina.","start":1687.55,"end":1688.15}]},{"text":"I represent from Transformasi untuk Keadilan Indonesia, TUK Indonesia.","start":1688.15,"end":1692.71,"topics":[],"words":[{"text":"I","start":1688.15,"end":1688.31},{"text":"represent","start":1688.39,"end":1689.03},{"text":"from","start":1689.11,"end":1689.75},{"text":"Transformasi","start":1689.75,"end":1690.47},{"text":"untuk","start":1690.47,"end":1690.71},{"text":"Keadilan","start":1690.71,"end":1691.11},{"text":"Indonesia,","start":1691.11,"end":1691.67},{"text":"TUK","start":1691.67,"end":1691.95},{"text":"Indonesia.","start":1691.95,"end":1692.71}]},{"text":"Today, I want to talk about the closely connection between forest fires, biodiversity loss, and financial sector.","start":1693.59,"end":1701.75,"topics":[{"key":"harmful-financial-flows","label":"Harmful Financial Flows","description":"A major theme was the large volume of bank lending and investment still flowing to sectors linked to biodiversity loss, including forest-risk commodities and mining. Speakers argued that biodiversity destruction is being enabled not only by companies on the ground but also by the financial institutions behind them."},{"key":"deforestation-risk-commodities","label":"Deforestation-Risk Commodities","description":"Industrial commodity sectors such as palm oil, soy, beef, and pulp and paper were identified as key drivers of tropical deforestation, forest fires, and biodiversity decline. Speakers linked these sectors to corporate profit, ecosystem destruction, and transboundary impacts such as haze."}],"words":[{"text":"Today,","start":1693.59,"end":1694.03},{"text":"I","start":1694.03,"end":1694.07},{"text":"want","start":1694.07,"end":1694.35},{"text":"to","start":1694.35,"end":1694.43},{"text":"talk","start":1694.43,"end":1694.63},{"text":"about","start":1694.63,"end":1695.03},{"text":"the","start":1695.03,"end":1695.19},{"text":"closely","start":1695.19,"end":1695.79},{"text":"connection","start":1695.79,"end":1696.47},{"text":"between","start":1696.47,"end":1696.95},{"text":"forest","start":1696.95,"end":1697.27},{"text":"fires,","start":1697.27,"end":1697.99},{"text":"biodiversity","start":1698.15,"end":1698.95},{"text":"loss,","start":1698.95,"end":1699.43},{"text":"and","start":1699.43,"end":1700.07},{"text":"financial","start":1700.39,"end":1701.03},{"text":"sector.","start":1701.03,"end":1701.75}]},{"text":"And as we know, forest fire destroy ecosystem, wildlife, and their habitats.","start":1702.23,"end":1708.23,"topics":[],"words":[{"text":"And","start":1702.23,"end":1702.51},{"text":"as","start":1702.51,"end":1702.71},{"text":"we","start":1702.71,"end":1702.83},{"text":"know,","start":1702.83,"end":1703.11},{"text":"forest","start":1703.11,"end":1703.55},{"text":"fire","start":1703.55,"end":1704.07},{"text":"destroy","start":1704.07,"end":1704.75},{"text":"ecosystem,","start":1704.75,"end":1705.75},{"text":"wildlife,","start":1706.15,"end":1706.95},{"text":"and","start":1706.95,"end":1707.15},{"text":"their","start":1707.15,"end":1707.43},{"text":"habitats.","start":1707.43,"end":1708.23}]},{"text":"And the impacts go beyond Indonesia.","start":1708.95,"end":1711.59,"topics":[],"words":[{"text":"And","start":1708.95,"end":1709.23},{"text":"the","start":1709.23,"end":1709.31},{"text":"impacts","start":1709.31,"end":1709.99},{"text":"go","start":1709.99,"end":1710.23},{"text":"beyond","start":1710.23,"end":1710.79},{"text":"Indonesia.","start":1710.79,"end":1711.59}]},{"text":"Our neighboring like Malaysia, Singapore, Brunei also suffer from the haze.","start":1712.15,"end":1718.95,"topics":[{"key":"deforestation-risk-commodities","label":"Deforestation-Risk Commodities","description":"Industrial commodity sectors such as palm oil, soy, beef, and pulp and paper were identified as key drivers of tropical deforestation, forest fires, and biodiversity decline. Speakers linked these sectors to corporate profit, ecosystem destruction, and transboundary impacts such as haze."}],"words":[{"text":"Our","start":1712.15,"end":1712.55},{"text":"neighboring","start":1712.55,"end":1713.59},{"text":"like","start":1713.59,"end":1714.07},{"text":"Malaysia,","start":1714.15,"end":1714.95},{"text":"Singapore,","start":1714.95,"end":1715.75},{"text":"Brunei","start":1715.75,"end":1716.55},{"text":"also","start":1716.79,"end":1717.19},{"text":"suffer","start":1717.19,"end":1717.83},{"text":"from","start":1717.83,"end":1718.15},{"text":"the","start":1718.15,"end":1718.27},{"text":"haze.","start":1718.31,"end":1718.95}]},{"text":"And in Indonesia, forest fires happen again and again.","start":1719.87,"end":1724.47,"topics":[{"key":"deforestation-risk-commodities","label":"Deforestation-Risk Commodities","description":"Industrial commodity sectors such as palm oil, soy, beef, and pulp and paper were identified as key drivers of tropical deforestation, forest fires, and biodiversity decline. Speakers linked these sectors to corporate profit, ecosystem destruction, and transboundary impacts such as haze."}],"words":[{"text":"And","start":1719.87,"end":1720.11},{"text":"in","start":1720.15,"end":1720.47},{"text":"Indonesia,","start":1720.47,"end":1721.19},{"text":"forest","start":1721.35,"end":1721.67},{"text":"fires","start":1721.67,"end":1722.39},{"text":"happen","start":1722.39,"end":1722.87},{"text":"again","start":1722.87,"end":1723.59},{"text":"and","start":1723.59,"end":1723.79},{"text":"again.","start":1723.79,"end":1724.47}]},{"text":"Nusantara Atlas record around 2 million hectares of burn area up to October 2026.","start":1724.95,"end":1734.63,"topics":[],"words":[{"text":"Nusantara","start":1724.95,"end":1725.71},{"text":"Atlas","start":1725.71,"end":1726.39},{"text":"record","start":1726.39,"end":1727.19},{"text":"around","start":1728.15,"end":1728.67},{"text":"2","start":1728.67,"end":1728.87},{"text":"million","start":1728.87,"end":1729.43},{"text":"hectares","start":1729.43,"end":1730.31},{"text":"of","start":1730.71,"end":1730.95},{"text":"burn","start":1730.95,"end":1731.27},{"text":"area","start":1731.27,"end":1731.83},{"text":"up","start":1731.91,"end":1732.15},{"text":"to","start":1732.15,"end":1732.47},{"text":"October","start":1732.47,"end":1733.27},{"text":"2026.","start":1733.27,"end":1734.63}]},{"text":"Even as I speak today, the fire still happening.","start":1735.75,"end":1739.91,"topics":[],"words":[{"text":"Even","start":1735.75,"end":1736.31},{"text":"as","start":1736.31,"end":1736.63},{"text":"I","start":1736.63,"end":1736.79},{"text":"speak","start":1736.79,"end":1737.15},{"text":"today,","start":1737.15,"end":1737.75},{"text":"the","start":1737.83,"end":1738.11},{"text":"fire","start":1738.11,"end":1738.71},{"text":"still","start":1738.71,"end":1739.11},{"text":"happening.","start":1739.11,"end":1739.91}]},{"text":"But behind these fires, there are not only companies, there are also banks and investors financing them.","start":1741.59,"end":1750.71,"topics":[{"key":"harmful-financial-flows","label":"Harmful Financial Flows","description":"A major theme was the large volume of bank lending and investment still flowing to sectors linked to biodiversity loss, including forest-risk commodities and mining. Speakers argued that biodiversity destruction is being enabled not only by companies on the ground but also by the financial institutions behind them."}],"words":[{"text":"But","start":1741.59,"end":1741.83},{"text":"behind","start":1741.83,"end":1742.71},{"text":"these","start":1743.19,"end":1743.59},{"text":"fires,","start":1743.59,"end":1744.23},{"text":"there","start":1744.23,"end":1744.47},{"text":"are","start":1744.47,"end":1744.71},{"text":"not","start":1744.71,"end":1745.03},{"text":"only","start":1745.03,"end":1745.43},{"text":"companies,","start":1745.43,"end":1746.39},{"text":"there","start":1746.71,"end":1747.03},{"text":"are","start":1747.03,"end":1747.27},{"text":"also","start":1747.27,"end":1747.67},{"text":"banks","start":1747.67,"end":1748.39},{"text":"and","start":1748.39,"end":1748.67},{"text":"investors","start":1748.67,"end":1749.59},{"text":"financing","start":1749.59,"end":1750.39},{"text":"them.","start":1750.39,"end":1750.71}]},{"text":"So today I want to share four key points.","start":1751.35,"end":1755.03,"topics":[],"words":[{"text":"So","start":1751.35,"end":1751.83},{"text":"today","start":1752.15,"end":1752.55},{"text":"I","start":1752.55,"end":1752.71},{"text":"want","start":1752.71,"end":1753.07},{"text":"to","start":1753.07,"end":1753.15},{"text":"share","start":1753.15,"end":1753.51},{"text":"four","start":1753.51,"end":1753.99},{"text":"key","start":1753.99,"end":1754.31},{"text":"points.","start":1754.31,"end":1755.03}]},{"text":"The first one, we have identified corporate groups in the palm oil and pulp and paper sectors linked to this year's forest fires.","start":1755.51,"end":1766.63,"topics":[{"key":"deforestation-risk-commodities","label":"Deforestation-Risk Commodities","description":"Industrial commodity sectors such as palm oil, soy, beef, and pulp and paper were identified as key drivers of tropical deforestation, forest fires, and biodiversity decline. Speakers linked these sectors to corporate profit, ecosystem destruction, and transboundary impacts such as haze."}],"words":[{"text":"The","start":1755.51,"end":1755.67},{"text":"first","start":1755.67,"end":1756.07},{"text":"one,","start":1756.07,"end":1756.47},{"text":"we","start":1756.87,"end":1757.11},{"text":"have","start":1757.11,"end":1757.39},{"text":"identified","start":1757.47,"end":1758.47},{"text":"corporate","start":1758.63,"end":1759.27},{"text":"groups","start":1759.27,"end":1759.99},{"text":"in","start":1760.07,"end":1760.23},{"text":"the","start":1760.23,"end":1760.31},{"text":"palm","start":1760.31,"end":1760.87},{"text":"oil","start":1760.87,"end":1761.27},{"text":"and","start":1761.27,"end":1761.51},{"text":"pulp","start":1761.51,"end":1761.83},{"text":"and","start":1761.83,"end":1762.11},{"text":"paper","start":1762.31,"end":1762.71},{"text":"sectors","start":1762.71,"end":1763.43},{"text":"linked","start":1763.83,"end":1764.55},{"text":"to","start":1764.55,"end":1764.63},{"text":"this","start":1764.71,"end":1765.03},{"text":"year's","start":1765.03,"end":1765.51},{"text":"forest","start":1765.51,"end":1765.91},{"text":"fires.","start":1765.91,"end":1766.63}]},{"text":"they include fangio no Wilmar Royal Golden Eagle Sinar Mas Salim Musimas Genting Sampoerna Agro Harita Rajawali Sungai Budi Kuala Lumpur kepong Carson Cumberbatch and SD Guthrie according to took Indonesia report this group control around 7.6 million hectares of land in Indonesia.","start":1767.23,"end":1796.15,"topics":[{"key":"deforestation-risk-commodities","label":"Deforestation-Risk Commodities","description":"Industrial commodity sectors such as palm oil, soy, beef, and pulp and paper were identified as key drivers of tropical deforestation, forest fires, and biodiversity decline. Speakers linked these sectors to corporate profit, ecosystem destruction, and transboundary impacts such as haze."}],"words":[{"text":"they","start":1767.23,"end":1767.63},{"text":"include","start":1767.63,"end":1768.19},{"text":"fangio","start":1768.27,"end":1768.83},{"text":"no","start":1768.83,"end":1769.23},{"text":"Wilmar","start":1769.23,"end":1770.03},{"text":"Royal","start":1770.19,"end":1770.67},{"text":"Golden","start":1770.67,"end":1771.15},{"text":"Eagle","start":1771.15,"end":1771.63},{"text":"Sinar","start":1771.63,"end":1772.19},{"text":"Mas","start":1772.19,"end":1772.59},{"text":"Salim","start":1772.83,"end":1773.67},{"text":"Musimas","start":1773.67,"end":1774.43},{"text":"Genting","start":1774.59,"end":1775.15},{"text":"Sampoerna","start":1775.23,"end":1776.15},{"text":"Agro","start":1776.15,"end":1776.59},{"text":"Harita","start":1776.75,"end":1777.55},{"text":"Rajawali","start":1777.71,"end":1778.59},{"text":"Sungai","start":1778.91,"end":1779.39},{"text":"Budi","start":1779.39,"end":1779.87},{"text":"Kuala","start":1779.87,"end":1780.51},{"text":"Lumpur","start":1780.51,"end":1780.91},{"text":"kepong","start":1780.91,"end":1781.47},{"text":"Carson","start":1781.71,"end":1782.35},{"text":"Cumberbatch","start":1782.35,"end":1783.15},{"text":"and","start":1783.31,"end":1783.63},{"text":"SD","start":1783.63,"end":1784.19},{"text":"Guthrie","start":1784.75,"end":1785.39},{"text":"according","start":1786.51,"end":1787.15},{"text":"to","start":1787.15,"end":1787.27},{"text":"took","start":1787.31,"end":1787.55},{"text":"Indonesia","start":1787.55,"end":1788.11},{"text":"report","start":1788.11,"end":1788.71},{"text":"this","start":1788.71,"end":1788.99},{"text":"group","start":1788.99,"end":1789.23},{"text":"control","start":1789.23,"end":1789.79},{"text":"around","start":1789.79,"end":1790.31},{"text":"7.6","start":1790.75,"end":1792.59},{"text":"million","start":1792.95,"end":1793.51},{"text":"hectares","start":1793.51,"end":1794.23},{"text":"of","start":1794.31,"end":1794.63},{"text":"land","start":1794.63,"end":1795.11},{"text":"in","start":1795.11,"end":1795.27},{"text":"Indonesia.","start":1795.27,"end":1796.15}]},{"text":"That is almost the size of Czech Republic.","start":1796.63,"end":1800.39,"topics":[],"words":[{"text":"That","start":1796.63,"end":1796.95},{"text":"is","start":1796.95,"end":1797.35},{"text":"almost","start":1797.35,"end":1797.87},{"text":"the","start":1797.87,"end":1797.99},{"text":"size","start":1797.99,"end":1798.55},{"text":"of","start":1798.55,"end":1798.87},{"text":"Czech","start":1799.27,"end":1799.51},{"text":"Republic.","start":1799.51,"end":1800.39}]},{"text":"Several also have historical of deforestation, human rights violation, land conflict, and also corruption.","start":1801.03,"end":1809.03,"topics":[{"key":"deforestation-risk-commodities","label":"Deforestation-Risk Commodities","description":"Industrial commodity sectors such as palm oil, soy, beef, and pulp and paper were identified as key drivers of tropical deforestation, forest fires, and biodiversity decline. Speakers linked these sectors to corporate profit, ecosystem destruction, and transboundary impacts such as haze."},{"key":"rights-based-finance","label":"Rights-Based Finance","description":"The discussion also focused on the need to build human rights, indigenous rights, land rights, and access to remedy into biodiversity finance and financial regulation. Speakers warned that finance systems currently protect investors more effectively than the communities, workers, and ecosystems harmed by destructive investments."}],"words":[{"text":"Several","start":1801.03,"end":1801.75},{"text":"also","start":1801.75,"end":1802.07},{"text":"have","start":1802.07,"end":1802.39},{"text":"historical","start":1802.39,"end":1803.35},{"text":"of","start":1803.43,"end":1803.75},{"text":"deforestation,","start":1803.75,"end":1804.71},{"text":"human","start":1804.95,"end":1805.43},{"text":"rights","start":1805.43,"end":1805.71},{"text":"violation,","start":1805.71,"end":1806.55},{"text":"land","start":1806.63,"end":1806.95},{"text":"conflict,","start":1806.95,"end":1807.55},{"text":"and","start":1807.59,"end":1807.79},{"text":"also","start":1807.79,"end":1808.23},{"text":"corruption.","start":1808.23,"end":1809.03}]},{"text":"Second, according to forest finance data from 2020 to September 2026, these groups receive around 50 53.4 billion US dollars in credit.","start":1809.83,"end":1827.27,"topics":[{"key":"harmful-financial-flows","label":"Harmful Financial Flows","description":"A major theme was the large volume of bank lending and investment still flowing to sectors linked to biodiversity loss, including forest-risk commodities and mining. Speakers argued that biodiversity destruction is being enabled not only by companies on the ground but also by the financial institutions behind them."}],"words":[{"text":"Second,","start":1809.83,"end":1810.27},{"text":"according","start":1810.87,"end":1811.59},{"text":"to","start":1811.59,"end":1811.71},{"text":"forest","start":1811.71,"end":1812.15},{"text":"finance","start":1812.15,"end":1812.87},{"text":"data","start":1812.87,"end":1813.23},{"text":"from","start":1813.27,"end":1813.75},{"text":"2020","start":1813.75,"end":1814.39},{"text":"to","start":1815.27,"end":1815.43},{"text":"September","start":1815.43,"end":1816.15},{"text":"2026,","start":1816.15,"end":1817.59},{"text":"these","start":1817.99,"end":1818.39},{"text":"groups","start":1818.39,"end":1818.87},{"text":"receive","start":1818.87,"end":1819.51},{"text":"around","start":1819.59,"end":1820.27},{"text":"50","start":1820.87,"end":1821.99},{"text":"53.4","start":1822.71,"end":1824.55},{"text":"billion","start":1824.55,"end":1825.35},{"text":"US","start":1825.67,"end":1825.91},{"text":"dollars","start":1825.91,"end":1826.55},{"text":"in","start":1826.55,"end":1826.79},{"text":"credit.","start":1826.79,"end":1827.27}]},{"text":"Around 60% came from Indonesia banks, including Bank Central Asia, Bank Mandiri, Bank Negara Indonesia, and Bank Rakyat Indonesia.","start":1829.83,"end":1839.99,"topics":[{"key":"harmful-financial-flows","label":"Harmful Financial Flows","description":"A major theme was the large volume of bank lending and investment still flowing to sectors linked to biodiversity loss, including forest-risk commodities and mining. Speakers argued that biodiversity destruction is being enabled not only by companies on the ground but also by the financial institutions behind them."}],"words":[{"text":"Around","start":1829.83,"end":1830.43},{"text":"60%","start":1830.43,"end":1830.47},{"text":"came","start":1830.47,"end":1830.79},{"text":"from","start":1830.79,"end":1831.35},{"text":"Indonesia","start":1831.67,"end":1832.31},{"text":"banks,","start":1832.31,"end":1832.87},{"text":"including","start":1833.11,"end":1833.91},{"text":"Bank","start":1833.91,"end":1834.23},{"text":"Central","start":1834.23,"end":1834.87},{"text":"Asia,","start":1834.99,"end":1835.51},{"text":"Bank","start":1835.83,"end":1836.15},{"text":"Mandiri,","start":1836.15,"end":1836.79},{"text":"Bank","start":1836.79,"end":1836.99},{"text":"Negara","start":1836.99,"end":1837.43},{"text":"Indonesia,","start":1837.43,"end":1838.07},{"text":"and","start":1838.07,"end":1838.51},{"text":"Bank","start":1838.51,"end":1838.71},{"text":"Rakyat","start":1838.71,"end":1839.19},{"text":"Indonesia.","start":1839.19,"end":1839.99}]},{"text":"They are the four top banks in Indonesia.","start":1840.23,"end":1843.67,"topics":[],"words":[{"text":"They","start":1840.23,"end":1840.55},{"text":"are","start":1840.55,"end":1840.95},{"text":"the","start":1840.95,"end":1841.07},{"text":"four","start":1841.27,"end":1841.75},{"text":"top","start":1841.75,"end":1842.07},{"text":"banks","start":1842.07,"end":1842.63},{"text":"in","start":1842.63,"end":1842.75},{"text":"Indonesia.","start":1842.75,"end":1843.67}]},{"text":"International banks also provide financing, including Maybank and CIMB from Malaysia, then MUFG, Mizuho and SMBC from Japan.","start":1844.39,"end":1856.79,"topics":[{"key":"harmful-financial-flows","label":"Harmful Financial Flows","description":"A major theme was the large volume of bank lending and investment still flowing to sectors linked to biodiversity loss, including forest-risk commodities and mining. 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Thanks, Laurel.","start":2016.83,"end":2018.19,"topics":[],"words":[{"text":"Yes.","start":2016.83,"end":2017.15},{"text":"Thanks,","start":2017.39,"end":2017.71},{"text":"Laurel.","start":2017.71,"end":2018.19}]},{"text":"Good afternoon, everyone.","start":2018.35,"end":2019.87,"topics":[],"words":[{"text":"Good","start":2018.35,"end":2018.59},{"text":"afternoon,","start":2018.59,"end":2019.23},{"text":"everyone.","start":2019.23,"end":2019.87}]},{"text":"I'm going to try to connect some big ideas here, so I hope you can follow me.","start":2020.43,"end":2024.51,"topics":[],"words":[{"text":"I'm","start":2020.43,"end":2020.67},{"text":"going","start":2020.67,"end":2020.91},{"text":"to","start":2020.91,"end":2021.19},{"text":"try","start":2021.19,"end":2021.47},{"text":"to","start":2021.47,"end":2021.63},{"text":"connect","start":2021.63,"end":2022.11},{"text":"some","start":2022.11,"end":2022.35},{"text":"big","start":2022.35,"end":2022.51},{"text":"ideas","start":2022.51,"end":2022.99},{"text":"here,","start":2022.99,"end":2023.23},{"text":"so","start":2023.23,"end":2023.43},{"text":"I","start":2023.43,"end":2023.47},{"text":"hope","start":2023.47,"end":2023.67},{"text":"you","start":2023.67,"end":2023.79},{"text":"can","start":2023.79,"end":2023.95},{"text":"follow","start":2023.95,"end":2024.23},{"text":"me.","start":2024.23,"end":2024.51}]},{"text":"We know that the primary drivers of tropical deforestation and biodiversity destruction are the industrial food commodities.","start":2025.43,"end":2032.95,"topics":[{"key":"deforestation-risk-commodities","label":"Deforestation-Risk Commodities","description":"Industrial commodity sectors such as palm oil, soy, beef, and pulp and paper were identified as key drivers of tropical deforestation, forest fires, and biodiversity decline. Speakers linked these sectors to corporate profit, ecosystem destruction, and transboundary impacts such as haze."}],"words":[{"text":"We","start":2025.43,"end":2025.75},{"text":"know","start":2025.75,"end":2026.15},{"text":"that","start":2026.23,"end":2026.43},{"text":"the","start":2026.43,"end":2026.55},{"text":"primary","start":2026.55,"end":2027.07},{"text":"drivers","start":2027.07,"end":2027.63},{"text":"of","start":2027.63,"end":2027.75},{"text":"tropical","start":2027.75,"end":2028.23},{"text":"deforestation","start":2028.23,"end":2029.23},{"text":"and","start":2029.23,"end":2029.35},{"text":"biodiversity","start":2029.35,"end":2030.07},{"text":"destruction","start":2030.07,"end":2030.79},{"text":"are","start":2030.79,"end":2031.03},{"text":"the","start":2031.03,"end":2031.15},{"text":"industrial","start":2031.15,"end":2031.75},{"text":"food","start":2031.75,"end":2032.15},{"text":"commodities.","start":2032.15,"end":2032.95}]},{"text":"Palm oil, 70% of palm oil is used in ultra-processed packaged junk food.","start":2033.27,"end":2039.67,"topics":[{"key":"deforestation-risk-commodities","label":"Deforestation-Risk Commodities","description":"Industrial commodity sectors such as palm oil, soy, beef, and pulp and paper were identified as key drivers of tropical deforestation, forest fires, and biodiversity decline. 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Speakers linked these sectors to corporate profit, ecosystem destruction, and transboundary impacts such as haze."}],"words":[{"text":"And","start":2047.11,"end":2047.43},{"text":"beef,","start":2047.43,"end":2047.91},{"text":"which","start":2048.11,"end":2048.47},{"text":"is","start":2048.47,"end":2048.63},{"text":"the","start":2048.63,"end":2048.79},{"text":"most","start":2048.79,"end":2049.27},{"text":"inefficient","start":2049.27,"end":2049.99},{"text":"and","start":2049.99,"end":2050.15},{"text":"resource-intensive","start":2050.15,"end":2051.19},{"text":"way","start":2051.19,"end":2051.43},{"text":"to","start":2051.43,"end":2051.63},{"text":"produce","start":2051.63,"end":2052.15},{"text":"protein","start":2052.15,"end":2052.79},{"text":"at","start":2052.79,"end":2052.95},{"text":"scale.","start":2052.95,"end":2053.51}]},{"text":"In other words, none of these commodities that are driving forest fires around the world are actually produced to address human nutrition.","start":2054.07,"end":2061.83,"topics":[{"key":"deforestation-risk-commodities","label":"Deforestation-Risk Commodities","description":"Industrial commodity sectors such as palm oil, soy, beef, and pulp and paper were identified as key drivers of tropical deforestation, forest fires, and biodiversity decline. 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gives tremendous power to the banks, asset managers, stock exchanges, data providers, credit ratings agencies, and other financial powerhouses that control how money flows.","start":2165.51,"end":2178.71,"topics":[{"key":"harmful-financial-flows","label":"Harmful Financial Flows","description":"A major theme was the large volume of bank lending and investment still flowing to sectors linked to biodiversity loss, including forest-risk commodities and mining. Speakers argued that biodiversity destruction is being enabled not only by companies on the ground but also by the financial institutions behind them."}],"words":[{"text":"In","start":2165.51,"end":2165.67},{"text":"practical","start":2165.67,"end":2166.31},{"text":"terms,","start":2166.31,"end":2166.79},{"text":"the","start":2166.79,"end":2166.95},{"text":"financialized","start":2166.95,"end":2167.71},{"text":"economy","start":2167.71,"end":2168.23},{"text":"gives","start":2168.23,"end":2168.47},{"text":"tremendous","start":2168.47,"end":2169.19},{"text":"power","start":2169.19,"end":2169.67},{"text":"to","start":2169.67,"end":2169.75},{"text":"the","start":2169.75,"end":2169.87},{"text":"banks,","start":2169.87,"end":2170.39},{"text":"asset","start":2170.39,"end":2170.87},{"text":"managers,","start":2170.87,"end":2171.43},{"text":"stock","start":2171.43,"end":2171.83},{"text":"exchanges,","start":2171.83,"end":2172.55},{"text":"data","start":2172.87,"end":2173.19},{"text":"providers,","start":2173.19,"end":2173.83},{"text":"credit","start":2173.83,"end":2174.15},{"text":"ratings","start":2174.15,"end":2174.55},{"text":"agencies,","start":2174.55,"end":2175.07},{"text":"and","start":2175.07,"end":2175.19},{"text":"other","start":2175.19,"end":2175.35},{"text":"financial","start":2175.35,"end":2175.95},{"text":"powerhouses","start":2175.95,"end":2176.71},{"text":"that","start":2176.71,"end":2176.87},{"text":"control","start":2176.87,"end":2177.43},{"text":"how","start":2177.43,"end":2177.67},{"text":"money","start":2177.67,"end":2178.07},{"text":"flows.","start":2178.07,"end":2178.71}]},{"text":"And the sheer financial power of these institutions is used to increase their political power through lobbying and political spending, as I think is obvious to most of us.","start":2179.23,"end":2188.91,"topics":[{"key":"harmful-financial-flows","label":"Harmful Financial Flows","description":"A major theme was the large volume of bank lending and investment still flowing to sectors linked to biodiversity loss, including forest-risk commodities and mining. Speakers argued that biodiversity destruction is being enabled not only by companies on the ground but also by the financial institutions behind them."}],"words":[{"text":"And","start":2179.23,"end":2179.43},{"text":"the","start":2179.43,"end":2179.55},{"text":"sheer","start":2179.55,"end":2180.03},{"text":"financial","start":2180.03,"end":2180.75},{"text":"power","start":2180.75,"end":2181.31},{"text":"of","start":2181.51,"end":2181.63},{"text":"these","start":2181.63,"end":2181.87},{"text":"institutions","start":2181.87,"end":2182.67},{"text":"is","start":2182.67,"end":2182.91},{"text":"used","start":2182.91,"end":2183.19},{"text":"to","start":2183.19,"end":2183.31},{"text":"increase","start":2183.31,"end":2183.79},{"text":"their","start":2183.79,"end":2183.95},{"text":"political","start":2183.95,"end":2184.51},{"text":"power","start":2184.51,"end":2184.99},{"text":"through","start":2184.99,"end":2185.15},{"text":"lobbying","start":2185.15,"end":2185.67},{"text":"and","start":2185.67,"end":2185.79},{"text":"political","start":2185.79,"end":2186.23},{"text":"spending,","start":2186.23,"end":2186.75},{"text":"as","start":2186.75,"end":2186.99},{"text":"I","start":2186.99,"end":2187.07},{"text":"think","start":2187.07,"end":2187.39},{"text":"is","start":2187.47,"end":2187.71},{"text":"obvious","start":2187.79,"end":2188.19},{"text":"to","start":2188.19,"end":2188.35},{"text":"most","start":2188.35,"end":2188.63},{"text":"of","start":2188.63,"end":2188.75},{"text":"us.","start":2188.75,"end":2188.91}]},{"text":"It's largely due to this political power that few governments, as we've learned, have meaningful regulations to prevent banks and investors from banking on biodiversity destruction and climate chaos.","start":2189.23,"end":2200.91,"topics":[{"key":"financial-regulation-gaps","label":"Financial Regulation Gaps","description":"Several speakers argued that current rules are too weak to stop financing for deforestation, ecosystem conversion, and other environmental harms. 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Speakers argued that biodiversity destruction is being enabled not only by companies on the ground but also by the financial institutions behind them."}],"words":[{"text":"And","start":2208.83,"end":2209.03},{"text":"when","start":2209.03,"end":2209.23},{"text":"you","start":2209.23,"end":2209.35},{"text":"look","start":2209.35,"end":2209.59},{"text":"at","start":2209.59,"end":2209.71},{"text":"who","start":2209.71,"end":2209.95},{"text":"owns","start":2209.95,"end":2210.35},{"text":"these","start":2210.35,"end":2210.67},{"text":"companies,","start":2210.67,"end":2211.31},{"text":"you","start":2211.31,"end":2211.47},{"text":"find","start":2211.47,"end":2211.91},{"text":"that","start":2211.91,"end":2212.11},{"text":"three","start":2212.11,"end":2212.67},{"text":"investment","start":2212.67,"end":2213.35},{"text":"firms","start":2213.35,"end":2213.95},{"text":"own","start":2213.95,"end":2214.27},{"text":"almost","start":2214.27,"end":2214.75},{"text":"one","start":2214.75,"end":2215.07},{"text":"quarter","start":2215.07,"end":2215.59},{"text":"of","start":2215.59,"end":2215.71},{"text":"the","start":2215.71,"end":2215.83},{"text":"entire","start":2215.83,"end":2216.35},{"text":"global","start":2216.35,"end":2216.91},{"text":"industrial","start":2216.99,"end":2217.63},{"text":"food","start":2217.63,"end":2217.95},{"text":"system.","start":2217.95,"end":2218.51}]},{"text":"And we know that the profits from these companies and these financial firms go straight into tax shelters in the Cayman Islands and so forth, not into social safety nets or planetary health.","start":2219.15,"end":2230.67,"topics":[],"words":[{"text":"And","start":2219.15,"end":2219.47},{"text":"we","start":2219.47,"end":2219.63},{"text":"know","start":2219.63,"end":2219.87},{"text":"that","start":2219.87,"end":2220.07},{"text":"the","start":2220.07,"end":2220.19},{"text":"profits","start":2220.19,"end":2220.75},{"text":"from","start":2220.75,"end":2220.91},{"text":"these","start":2220.91,"end":2221.15},{"text":"companies","start":2221.15,"end":2221.75},{"text":"and","start":2221.75,"end":2221.87},{"text":"these","start":2221.87,"end":2222.03},{"text":"financial","start":2222.03,"end":2222.51},{"text":"firms","start":2222.51,"end":2222.91},{"text":"go","start":2222.91,"end":2223.07},{"text":"straight","start":2223.07,"end":2223.55},{"text":"into","start":2223.55,"end":2223.95},{"text":"tax","start":2223.95,"end":2224.35},{"text":"shelters","start":2224.35,"end":2224.83},{"text":"in","start":2224.83,"end":2224.95},{"text":"the","start":2224.95,"end":2225.07},{"text":"Cayman","start":2225.07,"end":2225.39},{"text":"Islands","start":2225.39,"end":2225.87},{"text":"and","start":2225.87,"end":2226.03},{"text":"so","start":2226.03,"end":2226.27},{"text":"forth,","start":2226.27,"end":2226.59},{"text":"not","start":2226.91,"end":2227.31},{"text":"into","start":2227.31,"end":2227.71},{"text":"social","start":2227.71,"end":2228.19},{"text":"safety","start":2228.19,"end":2228.59},{"text":"nets","start":2228.59,"end":2229.39},{"text":"or","start":2229.39,"end":2229.63},{"text":"planetary","start":2229.79,"end":2230.35},{"text":"health.","start":2230.35,"end":2230.67}]},{"text":"So we have a finance system that protects investors over people, we have a finance system that protects corporate rights over human rights and the rights of the living world, and we have a finance system that is driving biosphere destruction for short-term financial gain.","start":2231.27,"end":2246.31,"topics":[{"key":"rights-based-finance","label":"Rights-Based Finance","description":"The discussion also focused on the need to build human rights, indigenous rights, land rights, and access to remedy into biodiversity finance and financial regulation. Speakers warned that finance systems currently protect investors more effectively than the communities, workers, and ecosystems harmed by destructive investments."}],"words":[{"text":"So","start":2231.27,"end":2231.51},{"text":"we","start":2231.51,"end":2231.67},{"text":"have","start":2231.67,"end":2231.87},{"text":"a","start":2231.87,"end":2231.91},{"text":"finance","start":2231.91,"end":2232.35},{"text":"system","start":2232.35,"end":2232.79},{"text":"that","start":2232.79,"end":2232.95},{"text":"protects","start":2232.95,"end":2233.43},{"text":"investors","start":2233.43,"end":2234.07},{"text":"over","start":2234.07,"end":2234.23},{"text":"people,","start":2234.23,"end":2234.71},{"text":"we","start":2234.79,"end":2234.91},{"text":"have","start":2234.91,"end":2235.07},{"text":"a","start":2235.07,"end":2235.11},{"text":"finance","start":2235.11,"end":2235.63},{"text":"system","start":2235.63,"end":2236.15},{"text":"that","start":2236.39,"end":2236.59},{"text":"protects","start":2236.59,"end":2237.11},{"text":"corporate","start":2237.11,"end":2237.51},{"text":"rights","start":2237.51,"end":2237.99},{"text":"over","start":2237.99,"end":2238.31},{"text":"human","start":2238.31,"end":2238.71},{"text":"rights","start":2238.71,"end":2238.99},{"text":"and","start":2238.99,"end":2239.11},{"text":"the","start":2239.11,"end":2239.19},{"text":"rights","start":2239.19,"end":2239.51},{"text":"of","start":2239.51,"end":2239.59},{"text":"the","start":2239.59,"end":2239.67},{"text":"living","start":2239.67,"end":2239.99},{"text":"world,","start":2239.99,"end":2240.39},{"text":"and","start":2240.79,"end":2240.95},{"text":"we","start":2240.95,"end":2241.07},{"text":"have","start":2241.07,"end":2241.19},{"text":"a","start":2241.19,"end":2241.23},{"text":"finance","start":2241.23,"end":2241.71},{"text":"system","start":2241.71,"end":2242.07},{"text":"that","start":2242.07,"end":2242.23},{"text":"is","start":2242.23,"end":2242.39},{"text":"driving","start":2242.39,"end":2242.87},{"text":"biosphere","start":2242.87,"end":2243.43},{"text":"destruction","start":2243.43,"end":2244.23},{"text":"for","start":2244.39,"end":2244.71},{"text":"short-term","start":2244.71,"end":2245.27},{"text":"financial","start":2245.27,"end":2245.83},{"text":"gain.","start":2245.83,"end":2246.31}]},{"text":"Do we need regulations to close this gap and slow the destruction?","start":2246.79,"end":2250.31,"topics":[{"key":"financial-regulation-gaps","label":"Financial Regulation Gaps","description":"Several speakers argued that current rules are too weak to stop financing for deforestation, ecosystem conversion, and other environmental harms. They called for binding regulation, due diligence, stronger supervision, and accountability under the Global Biodiversity Framework rather than relying on voluntary commitments alone."}],"words":[{"text":"Do","start":2246.79,"end":2247.03},{"text":"we","start":2247.03,"end":2247.11},{"text":"need","start":2247.11,"end":2247.43},{"text":"regulations","start":2247.43,"end":2248.23},{"text":"to","start":2248.23,"end":2248.31},{"text":"close","start":2248.31,"end":2248.63},{"text":"this","start":2248.63,"end":2248.79},{"text":"gap","start":2248.79,"end":2249.15},{"text":"and","start":2249.15,"end":2249.27},{"text":"slow","start":2249.27,"end":2249.51},{"text":"the","start":2249.51,"end":2249.63},{"text":"destruction?","start":2249.63,"end":2250.31}]},{"text":"Of course we do.","start":2250.35,"end":2251.27,"topics":[],"words":[{"text":"Of","start":2250.35,"end":2250.47},{"text":"course","start":2250.47,"end":2250.83},{"text":"we","start":2250.83,"end":2250.95},{"text":"do.","start":2250.95,"end":2251.27}]},{"text":"We need antitrust laws to break up monopolies, we need position limits to prevent financial speculation, we need to shift subsidies away from harm and towards health.","start":2251.59,"end":2262.23,"topics":[{"key":"financial-regulation-gaps","label":"Financial Regulation Gaps","description":"Several speakers argued that current rules are too weak to stop financing for deforestation, ecosystem conversion, and other environmental harms. 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need a strong UN tax cooperation convention to put hundreds of billions of dollars back into the public purse.","start":2262.55,"end":2269.35,"topics":[],"words":[{"text":"We","start":2262.55,"end":2262.79},{"text":"need","start":2262.79,"end":2263.03},{"text":"a","start":2263.19,"end":2263.27},{"text":"strong","start":2263.27,"end":2263.83},{"text":"UN","start":2263.83,"end":2264.23},{"text":"tax","start":2264.23,"end":2264.63},{"text":"cooperation","start":2264.63,"end":2265.35},{"text":"convention","start":2265.35,"end":2265.99},{"text":"to","start":2265.99,"end":2266.07},{"text":"put","start":2266.07,"end":2266.31},{"text":"hundreds","start":2266.31,"end":2266.91},{"text":"of","start":2266.91,"end":2267.03},{"text":"billions","start":2267.03,"end":2267.47},{"text":"of","start":2267.47,"end":2267.59},{"text":"dollars","start":2267.59,"end":2267.99},{"text":"back","start":2267.99,"end":2268.31},{"text":"into","start":2268.31,"end":2268.47},{"text":"the","start":2268.47,"end":2268.55},{"text":"public","start":2268.55,"end":2268.95},{"text":"purse.","start":2268.95,"end":2269.35}]},{"text":"And we need debt relief on a mass scale to allow governments to invest in what matters and not be forced to submit to the cycle of 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all of these regulations and reforms depend on one very big idea, the idea that there is a social 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the job of governments is to protect the public good, to moderate unchecked greed and corruption, and as the UN Charter asserts, to uphold human rights.","start":2286.47,"end":2296.39,"topics":[{"key":"rights-based-finance","label":"Rights-Based Finance","description":"The discussion also focused on the need to build human rights, indigenous rights, land rights, and access to remedy into biodiversity finance and financial regulation. 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think BlackRock, who I just named, the world's largest asset manager, was the first asset manager to back out of their net zero 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they will no longer, you know, make any public statements regarding, you know, climate, human rights, biodiversity, and so forth.","start":2721.39,"end":2729.23,"topics":[{"key":"rights-based-finance","label":"Rights-Based Finance","description":"The discussion also focused on the need to build human rights, indigenous rights, land rights, and access to remedy into biodiversity finance and financial regulation. Speakers warned that finance systems currently protect investors more effectively than the communities, workers, and ecosystems harmed by destructive investments."}],"words":[{"text":"And","start":2721.39,"end":2721.91},{"text":"they","start":2721.91,"end":2721.99},{"text":"will","start":2721.99,"end":2722.19},{"text":"no","start":2722.19,"end":2722.35},{"text":"longer,","start":2722.35,"end":2722.91},{"text":"you","start":2723.15,"end":2723.31},{"text":"know,","start":2723.31,"end":2723.43},{"text":"make","start":2723.43,"end":2723.71},{"text":"any","start":2723.71,"end":2724.03},{"text":"public","start":2724.03,"end":2724.39},{"text":"statements","start":2724.39,"end":2724.91},{"text":"regarding,","start":2724.91,"end":2725.55},{"text":"you","start":2725.63,"end":2725.79},{"text":"know,","start":2725.79,"end":2725.95},{"text":"climate,","start":2725.95,"end":2726.43},{"text":"human","start":2726.67,"end":2726.99},{"text":"rights,","start":2726.99,"end":2727.31},{"text":"biodiversity,","start":2727.31,"end":2728.19},{"text":"and","start":2728.19,"end":2728.59},{"text":"so","start":2728.59,"end":2728.83},{"text":"forth.","start":2728.83,"end":2729.23}]},{"text":"So that, to my mind, is, you know, is kind of the premier example of the fact that, you know, it is important to hold financiers' feet to the fire and to make them accountable.","start":2730.27,"end":2739.95,"topics":[{"key":"financial-regulation-gaps","label":"Financial Regulation Gaps","description":"Several speakers argued that current rules are too weak to stop financing for deforestation, ecosystem conversion, and other environmental harms. 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They called for binding regulation, due diligence, stronger supervision, and accountability under the Global Biodiversity Framework rather than relying on voluntary commitments alone."}],"words":[{"text":"And","start":2799.59,"end":2799.75},{"text":"the","start":2799.75,"end":2799.83},{"text":"second,","start":2799.83,"end":2800.15},{"text":"we","start":2800.47,"end":2800.71},{"text":"need","start":2800.71,"end":2801.07},{"text":"to","start":2801.19,"end":2801.35},{"text":"put","start":2801.59,"end":2801.87},{"text":"pressure","start":2802.55,"end":2803.27},{"text":"to","start":2803.83,"end":2804.27},{"text":"financial","start":2804.27,"end":2804.87},{"text":"institutions.","start":2804.87,"end":2805.79}]},{"text":"In Indonesia, we took Indonesia has taken legal action to Bank Mandiri, one of the biggest banks in Indonesia, over its financing of palm oil company linked to environmental and land rights problems.","start":2806.43,"end":2823.55,"topics":[{"key":"deforestation-risk-commodities","label":"Deforestation-Risk Commodities","description":"Industrial commodity sectors such as palm oil, soy, beef, and pulp and paper were identified as key drivers of tropical deforestation, forest fires, and biodiversity decline. 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They called for binding regulation, due diligence, stronger supervision, and accountability under the Global Biodiversity Framework rather than relying on voluntary commitments alone."}],"words":[{"text":"And","start":2824.19,"end":2824.67},{"text":"the","start":2825.31,"end":2825.43},{"text":"last,","start":2825.43,"end":2825.95},{"text":"the","start":2825.95,"end":2826.23},{"text":"third,","start":2826.23,"end":2826.43},{"text":"we","start":2826.75,"end":2826.99},{"text":"need","start":2826.99,"end":2827.31},{"text":"stronger","start":2827.31,"end":2828.03},{"text":"government","start":2828.03,"end":2828.75},{"text":"regulation.","start":2828.83,"end":2829.71}]},{"text":"Yeah, we cannot rely only on voluntary commitments from investor.","start":2830.31,"end":2835.75,"topics":[{"key":"financial-regulation-gaps","label":"Financial Regulation Gaps","description":"Several speakers argued that current rules are too weak to stop financing for deforestation, ecosystem conversion, and other environmental harms. They called for binding regulation, due diligence, stronger supervision, and accountability under the Global Biodiversity Framework rather than relying on voluntary commitments alone."}],"words":[{"text":"Yeah,","start":2830.31,"end":2830.55},{"text":"we","start":2830.55,"end":2830.87},{"text":"cannot","start":2830.87,"end":2831.27},{"text":"rely","start":2831.27,"end":2831.59},{"text":"only","start":2831.59,"end":2832.47},{"text":"on","start":2832.47,"end":2832.71},{"text":"voluntary","start":2832.71,"end":2833.15},{"text":"commitments","start":2833.15,"end":2834.07},{"text":"from","start":2834.31,"end":2834.87},{"text":"investor.","start":2834.87,"end":2835.75}]},{"text":"And I think there is another important 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thanks to each of y'all.","start":2850.71,"end":2852.07,"topics":[],"words":[{"text":"So","start":2850.71,"end":2850.87},{"text":"thanks","start":2850.87,"end":2851.27},{"text":"to","start":2851.27,"end":2851.43},{"text":"each","start":2851.43,"end":2851.79},{"text":"of","start":2851.79,"end":2851.91},{"text":"y'all.","start":2851.91,"end":2852.07}]},{"text":"Appreciate it.","start":2852.63,"end":2853.11,"topics":[],"words":[{"text":"Appreciate","start":2852.63,"end":2853.03},{"text":"it.","start":2853.03,"end":2853.11}]},{"text":"And also just a reminder that we do have physical copies of the executive summary of the report available as 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