From cleared forests to polluted rivers and streams, investors and companies worldwide are recognizing the economic cost of nature and biodiversity loss and acting to protect the global economy that depends on thriving ecosystems.
The private sector’s growing momentum on nature action was evident throughout many of this year’s events, from the United Nations Biodiversity Conference, called COP16, which wrapped up earlier this month in Cali, Colombia, to COP29, which concluded last week. Business leaders made up a sizable number of the event’s 23,000 attendees, including – for the first time – representatives from some of the world’s largest banks like JPMorgan Chase and Bank of America.
Here are three key factors propelling investor and corporate action on protecting and restoring natural environments, alongside efforts to limit global temperature rise from reaching catastrophic levels.Like climate change, escalating rates of nature and biodiversity loss and water scarcity pose financial risks to investment portfolios, business operations, and the long-term stability of economies.
During COP15 in December 2022, Nature Action 100 launched as the first global investor-led engagement effort to support greater corporate action and ambition on nature and biodiversity loss, and the initiative now has over 230 investor participants representing more than $30 trillion in assets under management or advice. Since then, several other investor nature initiatives have sprouted up, including PRI’s Spring initiative and World Benchmarking Alliance’s Nature Collective Impact Coalition.
At COP16, the Taskforce on Nature-related Related Financial Disclosures – a leading initiative helping companies and financial institutions better understand and report their impacts, dependencies, risks, and opportunities – made a powerful statement, unveiling that more than 500 organizations have now signed as early adopters to its disclosure recommendations. Together, these organizations represent $6.5 trillion in market capitalization among publicly listed companies and over $17.
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