With four months until COP28, partner organizations of the Mangrove Breakthrough recently met to accelerate efforts to unlock $4 billion USD in funding and secure the future of 15 million hectares of mangrove forests by 2030.
Championing nature-positive finance: 5 Financial Institutions prioritizing biodiversity
The global commitment made at COP15 in Montreal, aiming to protect 30% of natural habitats by 2030 and achieve harmonious coexistence with nature by 2050, along with the increasing urgency, has catalyzed action from financial institutions. Many institutions now recognize the intertwined crises of nature loss and climate change and are taking steps to assess and mitigate their impacts on nature.
Race to Zero members, Aviva Investors, Schroders, Robeco are among those leading the charge, incorporating nature and biodiversity into their strategies to drive positive change and address the financial risks associated with nature loss.
Aviva Investors: NbS for net zero
Aviva Investors has seamlessly integrated nature and biodiversity into its net zero strategy across all operations. With a commitment to remove carbon from the atmosphere using nature-based solutions, they have allocated £100 million for woodland reintroduction projects in collaboration with renowned organizations like The Wildlife Trust, the Woodland Trust, and The Nature Trust. These projects, covering 3,000 hectares, will eliminate approximately 1.4 million tonnes of carbon emissions, equivalent to driving over 4.2 billion miles.
Schroders: Deforestation-free investments
Schroders, an asset management company, has committed to end deforestation and protect biodiversity. In their Group Nature and Biodiversity Position Statement, they address the nature and biodiversity exposures and impacts of their investments and operations.
Demonstrating alignment with the Soft Commodities Compact, Schroders has also pledged to eliminate commodity-driven deforestation from their portfolios by 2025. Their comprehensive policy covers new and existing financing activities, aiming to address human rights abuses associated with deforestation across commodities such as palm oil, soy, cattle products, and timber.
Robeco: Investing in a biodiverse future
RobecoSAM has launched a thematic biodiversity investment strategy, recognizing the investment potential of biodiversity. They target companies strategically positioned to embrace biodiversity, improve their biodiversity strategies, and reduce their biodiversity footprint. By encouraging sustainable practices, Robeco aims to drive positive change and promote a biodiverse future.
Other FI’s leading the way
Banque Misr: Climate-smart agriculture
Egyptian bank, Banque Misr has partnered with NGO Misr el Khier to address the financing challenges faced by rural farmers. By granting access to land rental opportunities and providing working capital financing, the bank supports climate-smart agriculture projects. This initiative, part of their Corporate Social Responsibility (CSR) efforts, aims to create employment opportunities for youth and women-led households while mitigating the impacts of climate change on rural communities heavily reliant on agriculture.
SouthBridge Investments: Restoring landscapes across Africa
SouthBridge Investments has established VUMBUZI, a forestry fund that mobilizes contributions for restoration projects. Aligned with the AFR100 Initiative, which aims to restore 100 million hectares of deforested and degraded landscapes in Africa by 2030, the fund plays a crucial role. With support from grantmakers and organizations like the Bezos Earth Fund, VUMBUZI delivers tailored solutions for land and forest restoration across the 34 participating countries.
By addressing the financial risks associated with nature loss, these institutions are driving positive change and demonstrating the crucial role of the finance sector in achieving a sustainable future in harmony with nature.
Dr. Mahmoud Mohieldin brings together green energy project developers and investors in Europe to explore opportunities for collaboration
Today’s forum to be held in Frankfurt is themed “Climate Initiatives to Finance Climate Action and the SDGs”. It is the second of five regional forums in the run up to COP28, set up in partnership between the COP27 and COP28 Presidencies, the UN Regional Commissions and the UN Climate Change High-Level Champions. The forums […]
The financial world is undergoing a remarkable transformation as more and more institutions recognize the urgent need to address the environmental crisis and take immediate action. Among those entering the race are PFZW, Avon Pension Fund and AP Pension
Discover how Race to Zero member, Schroders is aligning investments with nature, committing to net zero emissions, supporting biodiversity, and promoting sustainable practices in their investment decisions and operations.