Asset management names including Robeco, Triodos, Rathbone Greenbank, NN Investment Partners and BNP Paribas have signed up to the Partnership for Biodiversity Accounting Financials (PBAF), showing their commitment to collaborating on a shared methodology to calculate their biodiversity footprint.
Some 15 financial institutions, including the asset managers above, have joined the partnership bringing the total members to 21 and assets under management represented to $5.8trn.
They have committed to measuring their impact on biodiversity, to be transparent on their impact reporting and to set targets to improve their ecological footprint. PBAF said in a statement the aim is to present a new Common Ground report describing the partners’ metrics in 2021. In order to achieve this, the groups will team up in a number of working groups to address relevant issues, such as:
- Biodiversity impact of investments in the agricultural sector.
- Biodiversity impact of and dependencies in equity investments.
- Biodiversity impact of investments in forestry, agroforestry and ecological restoration.
Other groups that have recently signed up include ABN AMRO Bank, Finance in Motion, FirstRand Group and NWB Bank. The full list can be viewed here.
Roel Nozeman, senior advisor biodiversity at ASN Bank and chairman of the partnership, commented: “A growing number of banks and insurance companies realise that loss of biodiversity poses a major threat both to society and to the economy, and that we need action now. Through our loans and investments, we can limit the damage to ecosystems and contribute to the protection and restoration of nature.
“To do so, we have to adopt a common approach to measuring our impact and using data, as we did before in the climate debate. The Common Ground Report, which PBAF presented last year at a UN biodiversity convention, is an excellent first step. We will join hands with all new partners to continue developing that common approach in dialogue with initiatives such as the Taskforce on Nature-related Financial Disclosures (TNFD) and in line with EU legislation.”
See also: – Green Dream with MSCI’s Linda-Eling Lee: Five trends to watch and figuring out the biodiversity footprint
As it stands, the planet’s biodiversity is rapidly declining across the globe and studies show one million plant and animal species are threatening to become extinct.