Global investors representing $1.4 trillion in assets under management have called on companies they invest in to urgently disclose their nature-related impacts and address related dependencies.
The statement, released on Thursday, has been penned by 26 financial institutions which are part of the World Benchmarking Alliance’s (WBA) Nature Collective Impact Coalition (CIC), a multi-stakeholder initiative focused on enhancing companies’ efforts in assessing their biodiversity footprints.
In their call to action, investors stressed that nature-related inaction represents a significant global financial risk, as outlined by major organisations such as the World Economic Forum and consultancy PwC.
A recent report by PwC’s global centre for nature positive business showed that over 55% of the world’s GDP ($58 trillion) is highly or moderately dependent on nature.
“It has never been more urgent or necessary for companies to integrate nature into their decision-making,” the statement said, mentioning emerging initiatives such as the Taskforce on Nature-related Financial Disclosures, the GRI Biodiversity Standard, the Science Based Targets Network, and the EU’s Corporate Sustainability Reporting Directive.
“We ask all companies we invest in that are assessed under WBA’s Nature Benchmark to urgently assess and disclose their impacts and dependencies on nature, both within their own operations and the upstream and downstream parts of its value chain.”
Signatories of the call to action include:
- Achmea and Achmea Investment Manager
- Adrian Dominican Sisters
- Anima
- Benguela Global
- Church of Sweden
- Comgest
- AMC Impact
- CMA Impact
- Congregation of St. Joseph
- Daughters of Charity
- East Capital Group
- Ecofi
- EdenTree
- Ethos
- Future Group
- Hesta
- Impax Asset Management
- Mercy Investment Services
- P+
- Rathbones
- Scottish Widows
- SVVK ASIR
- Swedbank
- BVK
- Vancity
- Velliv
“Following the launch of this statement, the CIC is now moving into the next phase, and members will be undertaking targeted and collaborative engagement with an initial list of 30 focus companies,” Melis Ford, nature and biodiversity engagement manager at WBA, wrote on LinkedIn.
In 2022, WBA published its first Nature Benchmark, a global assessment of how major companies worldwide take action to protect and prioritise nature.
The report unveiled that fewer than 5% assessed the impact they have on nature, while fewer than 1% understand how their businesses depend on natural ecosystem services.
In 2023, a second Nature Benchmark reported that none of the 380 companies assessed in the agricultural and forestry industries comprehensively addressed and disclosed their dependencies on nature.
Last month, WBA released a separate survey showing that only 4% of large companies globally have set targets to reduce their water pollution, urging them to accelerate their water stewardship in the face of rising water insecurity.
By Giada Ferraglioni – giada@carbon-pulse.com
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