155. The Paulson Institute; The Nature Conservancy; Cornell Atkinson Center for Sustainability. (2020). Financing Nature: Closing the Global Biodiversity Financing Gap. https://www.paulsoninstitute.org/wp-content/uploads/2020/10/ FINANCING-NATURE_Full-Report_Final-with-endorsements_101420.pdf. 156. Learn more about the World Economic Forum’s Blue Carbon Action Partnership: World Economic Forum. (n.d.). Blue Carbon Action Partnership. https://www.bluecarbonactionpartnership.org/home. 157. World Economic Forum. (2024). Nature Finance and Biodiversity Credits: A Private Sector Roadmap to Finance and Act on Nature. https://www.weforum.org/publications/nature-finance-and-biodiversity-credits-a-private-sector-roadmap-to- finance-and-act-on-nature/ 158. For example, in the voluntary biodiversity credit market, questions remain about the irreplaceability of unique ecosystems, time lag, enforcement, permanence and equitable benefit-sharing with local communities. Companies can start engaging in the design and piloting of high-integrity biodiversity credit markets to ensure they deliver just and equitable benefits for nature and people. 159. The Ocean Panel. (n.d.). Sustainable Ocean Plans in Action. https://oceanpanel.org/sustainable-ocean-plans/. 160. The European Commission. (n.d.). The North Seas Energy Cooperation. https://energy.ec.europa.eu/topics/infrastructure/ high-level-groups/north-seas-energy-cooperation_en. 161. Bloomfield, Z. and S. Selvaratnam. (2024). Catalyzing Offshore Wind in Developing Nations: The Role of Concessional Finance. Ocean Conservancy. https://oceanconservancy.org/wp-content/uploads/2024/07/OSW-Concessional- Finance-v3.pdf. 162. Ocean Decade. (n.d.). Ocean Decade Corporate Data Group. https://oceandecade.org/ocean-decade-corporate-data- group/#:~:text=The%20Ocean%20Decade%20Corporate%20Data%20Group%20(CDG)%20was%20established%20 jointly,the%20’Ocean%20Decade’). 163. The Crown Estate. (n.d.). Marine: Data & Evidence. https://www.thecrownestate.co.uk/our-business/marine/data-and- evidence. 164. The Sustainable Blue Economy Finance Initiative, hosted by the United Nations Environment Programme Finance Initiative (UNEP FI), has developed a guide to help financial institutions identify the impacts, risks and opportunities in several marine sectors: United Nations Environment Programme Finance Initiative (UNEP FI). (2021). Turning the Tide: How to Finance a Sustainable Ocean Recovery. https://www.unepfi.org/publications/turning-the-tide/. 165. The role of finance in supporting the net-zero nature-positive transition has been increasingly recognized. See for instance: World Economic Forum. (2024). Financing the Nature-positive transition: Understanding the role of Banks, Investors and Insurers. https://www3.weforum.org/docs/WEF_Financing_Nature-Positive_CEO_Briefing_2024.pdf; A number of governments are now actively focusing on transition finance to support industries and economies in adopting sustainable practices. See for instance: City of London. (2024). Scaling Transition Finance: Findings of the Transition Finance Market Review. https://www.cityoflondon.gov.uk/supporting-businesses/economic-research/research- publications/scaling-transition-finance. 166. World Economic Forum. (n.d.). Responsible Renewables Infrastructure Initiative. https://initiatives.weforum.org/clean- power-and-electrification/responsible-renewables. 167. GFANZ’s framework is primarily aimed at financial institutions but can also be applied to firms in the real economy: Glasgow Financial Alliance for Net Zero (GFANZ). (2022). Financial Institution Net-zero Transition Plans: Fundamentals, Recommendations, and Guidance, Final Report. https://assets.bbhub.io/company/sites/63/2022/09/Recommendations- and-Guidance-on-Financial-Institution-Net-zero-Transition-Plans-November-2022.pdf. 168. UN Environment Programme World Conservation Monitoring Centre (UNEP-WCMC). (2024). Exploring Natural Capital Opportunities, Risks and Exposure. https://encorenature.org/en. 169. World Resources Institute (WRI). (n.d.). Aqueduct. https://www.wri.org/aqueduct. 170. World Wide Fund for Nature (WWF). (n.d.). Biodiversity Risk Filter. https://riskfilter.org/biodiversity/home; World Wide Fund for Nature (WWF). (n.d.). Water Risk Filter. https://riskfilter.org/water/explore/introduction. 171. United Nations Environment Programme Finance Initiative (UNEP-FI). (2022). Prioritising nature-related disclosures: considerations for high-risk sectors. https://www.unepfi.org/publications/prioritising-nature-related-disclosures- considerations-for-high-risk-sectors/. 172. Integrated Biodiversity Assessment Tool (IBAT). (n.d.). https://www.ibat-alliance.org/. 173. Taskforce on Nature-related Financial Disclosures (TNFD). (2024). Recommendations. https://tnfd.global/publication/ recommendations-of-the-taskforce-on-nature-related-financial-disclosures/. 174. Taskforce on Nature-related Financial Disclosures (TNFD) and Science Based Targets Network (SBTN). (2023). Guidance for corporates on science-based targets for nature. https://tnfd.global/wp-content/uploads/2023/09/Guidance_for_ corporates_on_science_based_targets_for_nature_v1.pdf?v=1695138398. 175. Taskforce on Nature-related Financial Disclosures (TNFD). (2023). Guidance on the identification and assessment of nature- related issues: the LEAP approach. 176. Capitals Coalition. (n.d.). Aligning Accounting Approaches for Nature. https://capitalscoalition.org/project/align/. Nature Positive: Role of the Offshore Wind Sector 56

Nature Positive Role of the Offshore Wind Sector