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Protection of natural resources: Creation of the African Alliance for Natural Capital

14/06/2022
Categories: Sectors

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Leading financial institutions partner with the United Nations Economic Commission for Africa (ECA), and the financial sector development agency FSD Africa to form the African Alliance for Natural Capital (ANCA).

The founding members are Access Bank, Development Bank of Southern Africa (DBSA), Ecobank, Equity Bank, FirstRand, Investec, Sanlam, Standard Chartered, and Zanaco, to name a few. FSD Africa acts as coordinator of the alliance with the management consulting firm Oliver Wyman. The Cambridge Institute for Sustainability Leadership (CISL) is also joining ANCA as a knowledge partner.

This new alliance aims to coordinate the policies and practices of financial institutions, businesses, regulators, and policymakers for growth and protection of Africa's natural resources. It will serve as an Africa-led collaborative forum to mobilize the financial community's response to the risks and opportunities related to nature on the continent. The ultimate objective of ANCA is to contribute to the growth and protection of Africa's natural capital by shifting financial flows from destructive activities for short-term gains to long-term nature management for sustainable economic growth.

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