Mirova joins call for stronger biodiversity policies ahead of COP15
In line with our commitment to continuously participate in initiatives pushing for action on biodiversity issues, we have joined the group of 78 financial institutions managing more than $10 trillion in assets that urge world governments to halt and reverse biodiversity loss and call for raising the ambition by setting specific targets for the financial sector supporting redirection of financial flows from nature harming to nature positives activities. Transition to a nature-positive economy could generate $10 trillion of annual business opportunities and nearly 400 million jobs by 20301 while fostering cobenefits in the fight against climate change considering the essential role of biodiversity in regulation of greenhouse gases fluxes.
The Financial Institution Statement coordinated by the Finance for Biodiversity Foundation together with Ceres, delivers a call by financial institutions for governments to tackle the crisis of biodiversity loss, and makes a case for the economic benefits creating a nature-positive economy.
In particular, the 78 signatories, including Mirova and Natixis Assurances, are calling for the creation of a more ambitious Global Biodiversity Framework (GBF) with an expectation for financial institutions and businesses to align financial flows to global biodiversity goals.
The statement reflects the connection between climate change and biodiversity, encouraging governments to develop a harmonized policy approach that will both deliver net zero greenhouse gas emissions in line with the goals of the Paris Agreement, and tackle the rapid decline of ecosystems and habitats. Specifically, it calls on governments to take four key policy actions to:
- Agree on an ambitious and transformational post-2020 GBF that requires the alignment of financial flows with global biodiversity goals;
- Strengthen national biodiversity strategy and action plans (NBSAPs) to ensure successful implementation of the GBF and enforce domestic policies to deliver biodiversity targets;
- Establish a regulatory environment that enables financial institutions to address biodiversity-related risks and opportunities, including by introducing consistent and decision-useful corporate disclosure requirements;
- Remove harmful subsidies and reverse them into aligned subsidies to bring about economic change and reduce market failures.
For Mirova, supporting this statement is integral to our ambitious biodiversity strategy which is based on three pillars:
- Strengthen our commitments to our stakeholders by contributing to a broad collective push to make biodiversity issues a priority at the highest levels;
- Accelerate our direct investment in natural capital and Nature-Based Solutions and develop a market ranging from incubation to scale-up of new models;
- Develop a data-driven methodology and market focused on companies impact on biodiversity to better integrate biodiversity into the investment process for listed equities.
 Source: New Nature Economy Report II, The Future Of Nature And Business, World Economic Forum, 2020
Ladislas Smia, Head of sustainability research at Mirova, has been selected to serve two years as Member of the Taskforce on Nature-related Financial Disclosure” (TNFD), along with 30 senior executives from financial institutions, corporates and market service providers.
Among the themes on which the IUCN (International Union for Conservation of Nature) World Conservation Congress focused, the need to transform the global financial system and direct investments into projects that benefit nature and biodiversity was largely addressed throughout the event.
Despite the health context, we have continued to implement our biodiversity roadmap. You will find below a progress report on our different work areas, as the IUCN (International Union for Conservation of Nature) World Conservation Congress is taking place in Marseille, with the aim of taking action for a nature-based reconstruction, for climate change and for post-2020 biodiversity.