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Opportunity

Rainforest Foundation Norway approached us to provide training for finance sector professionals in China.

Expansion of agricultural production into areas with tropical rainforest, as well as the commercial exploitation of natural resources, account for the vast majority of tropical deforestation. Rainforest Foundation Norway seeks to curb the drivers of deforestation by engaging with commercial stakeholders along key value chains and promoting sustainable business practices. To help achieve this they organise capacity development and knowledge exchange activities between the financial sector, companies, academics and civil society organisations.

Rainforest Foundation Norway was looking for an academic partner who could share learning on the nature- and biodiversity impacts of global financial value chains, and bring clarity to UK and EU nature and biodiversity regulation. They wanted to work with a university experienced in providing learning programmes for international visitors, and which was recognised internationally for its expertise in this area.

Approach

We designed a week-long, in-person executive education programme for over 30 Chinese finance professionals, comprising senior investors and bankers from major Chinese firms.

Sustainability is a huge and complex topic which can appear overwhelming. We broke the issues down into key concepts and practical application, tailored to create tangible, meaningful lessons that participants could apply to their specific situations.

The course content included:

• An overview of why nature, biodiversity and sustainable finance are important in international financial investments. An overview of why nature, biodiversity and sustainable finance are important in international financial investments.
• The impact on international financial investors of nature and biodiversity regulations in Europe and the UK, and how banks and investors are responding to these regulations and managing risks in their portfolios.
• The links between climate, land use change and biodiversity loss, including how major deforestation drivers like agriculture and mining translate into financial risks.
• Practical tools to manage nature-related financial risks.
• Examples of best practice for banks and investors.
• How to protect nature and biodiversity whilst achieving strong financial returns.

The programme was taught by a world-class faculty team from the University of Edinburgh. Alongside the academic team, specially selected guest speakers brought to life the real-world impacts of nature and biodiversity. They included experts from global businesses such as Abrdn, EY, and Robeco asset managers, NGOs such as Global Canopy, and international organisations including the United Nations Environment Programme Finance Initiative.

The design of the programme and selection of guest speakers was done in close collaboration with Rainforest Foundation Norway and consultants Future Horizon.

Impact

Increased understanding of international regulations

The course gave senior finance managers from China clarity on UK and EU regulatory frameworks, helping to increase their competitiveness and robustness in international finance.

Greater awareness of the interdependencies between business and nature

The participants expanded their skills and knowledge on how the decisions made in financial centres affect nature and biodiversity around the world, the interdependencies between business and nature, due diligence requirements, and supply chain impacts.

Advice on practical actions to manage biodiversity risk

Participant feedback showed that it was particularly beneficial to hear directly from people working in industry, who were able to share their personal experiences of dealing with regulation and the very tangible, practical actions they are taking to manage nature and biodiversity risk.

Teaching by a respected academic partner with world-leading expertise

For Rainforest Foundation Norway, partnering with the University of Edinburgh provided a respected, independent partner with world-leading expertise. The course allowed participants to learn directly from academics who are at the cutting-edge of developing new regulations in the UK and internationally.

Provided a pathway for scaling up a biodiversity learning programme to bigger audiences

Having seen that this type of learning programme works, the course has given Rainforest Foundation Norway a pathway to scaling up lessons on biodiversity and deforestation to reach an wider audience.

Partnering with the University enabled us to develop an academically rigorous program, enriched by teaching from independent, internationally recognized experts. This collaboration provided Chinese representatives with an invaluable opportunity to gain first hand insights into nature-based risk and sustainable finance. They explored how leading pioneers manage these challenges and how European regulations shape and govern the sector.