October 14, 2020
Refinitiv partners with United for Wildlife to tackle illegal wildlife trade
Refinitiv draws on its expertise in data and technology as it joins forces with United for Wildlife to disrupt criminal wildlife trafficking networks.
London and New York: Refinitiv, one of the world’s largest providers of financial markets data and infrastructure, announced today its partnership with United for Wildlife, a consortium of conservation organizations, governments, and global corporations working to tackle the issue of illegal wildlife trade.
Green crime, comprising environmental crimes and wildlife trafficking, is estimated to be worth billions in illicit proceeds globally, with the illegal wildlife trade valued between $50-150 billion USD per year1. Wildlife crime is one of the top five most lucrative criminal activities, following illegal drugs, human and weapons trafficking. It is estimated that businesses are spending on average 4.0% of their global turnover checking customers and suppliers for links to such crimes2 and almost 40% cite a lack of data as the reason they cannot identify these risks in their supply chains3. Due to its increasingly sophisticated nature, tackling green crime requires effective cooperation across public and private sectors.
Led by The Duke of Cambridge and The Royal Foundation, United for Wildlife seeks to support new and innovative ways to protect animals against poachers, combine forces with the public and private sector to curb trafficking, and reduce demand for wildlife.
The partnership between Refinitiv and United for Wildlife will harness the latest wildlife and environmental crime data from both organisations to benefit their respective customers and members. Refinitiv will provide support to United for Wildlife’s Taskforce members through its World-Check risk intelligence data, which is backed by a 450 strong team of research analysts focussed on tracking individuals and entities involved in wildlife and other illicit activities related to green crime.
In addition to its data on illegal wildlife trafficking, Refinitiv will work with United for Wildlife to develop learning sessions for United for Wildlife’s Taskforce members, led by Refinitiv’s specialist research teams, and collaborate on events and campaigns focused on wildlife trafficking.
“United for Wildlife has been built on partnerships, bringing influential stakeholders together to collaborate on combatting the illegal wildlife trade,” said David Fein, Chair of the United for Wildlife Financial Taskforce and Group General Counsel at Standard Chartered Bank. “We welcome Refinitiv’s expertise in collating and distributing a wealth of data on wildlife trafficking trends and issues, and look forward to continuing to develop innovative ways to combat this heinous crime and save endangered species.”
“We are proud to join forces with United for Wildlife and lead the line in helping to disrupt the criminal networks that attempt to use legal businesses, financial and transport structures to conduct their illegal activity and to launder their illicit proceeds,” said David Craig, CEO, Refinitiv. “With this partnership, we are fighting green crime through improved information sharing and collaboration, combining Refinitiv’s data, distribution capabilities and global reach, with the illegal wildlife trade expertise offered by United for Wildlife and its members.”.
Refinitiv will be working with the organization’s Financial Taskforce and Transport Taskforce. The Financial Taskforce comprises representatives from financial institutions, as well as experts on illegal wildlife trade. It supports efforts to combat illegal wildlife trade by leveraging the existing global financial crime architecture. The Transport Taskforce brings together transport stakeholders such as airports, shipping companies, airlines, as well as law enforcement and other agencies to stop the transport and the trafficking of illegal wildlife products.
Notes to editors: 1 United for Wildlife. 2 Refinitiv: Innovation and the Fight Against Financial Crime, 2019. 3 Refinitiv: The Real Risks: Hidden Threats within Third-Party Relationships, 2020.
About United for Wildlife
United for Wildlife works to tackle illegal wildlife trade by bringing together conservation organisations, governments, and global corporations. Led by The Duke of Cambridge and The Royal Foundation, United for Wildlife is working to protect endangered species like elephants, rhinos, tigers and pangolins so they can share our world with future generations. To learn more, visit: www.unitedforwildlife.org
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