Investors with a collective $10 trillion in assets called on world governments Wednesday to get more aggressive about dealing with biodiversity loss.
The 78 signatories, including pension funds, other asset owners, and asset managers in Europe and North America, also called for a Global Biodiversity Framework to help financial institutions and businesses align financial flows with global biodiversity goals set by the framework.
"Our clients' future prosperity is heavily dependent upon reversing nature loss and restoring balance to our biosphere," said Adam Kanzer, head of stewardship, Americas for signatory BNP Paribas Asset Management, in a new release. "Investors are therefore calling for an ambitious outcome to the (Convention on Biological Diversity) COP15 talks that provides us with clear targets and a road map back to life within planetary boundaries. The stakes couldn't be higher."
A statement coordinated by Ceres and the Finance for Biodiversity Foundation is timed to precede the 15th Conference of Parties of the United Nations Convention on Biological Diversity, or CBD COP15, that begins Oct. 5 in China. It will be delivered to officials there crafting the next draft of the Global Biodiversity Framework.
"As financial institutions, we are committed to action," the statement said. "Capital allocation, stewardship, and lending decisions play an important role in generating sustainable outcomes for people and the planet. Strong policies, in line with the GBF, can accelerate and scale up private capital flows towards a net-zero and nature-positive economy. We encourage governments to engage closely with financial institutions to make sure these opportunities are fully realized."
As of Wednesday, 75 financial organizations have signed the Finance for Biodiversity Pledge, committing to protect and restore biodiversity through their finance activities and investments. More signatories are expected during the European Business & Nature Summit that begins in late November and will be held virtually.
