Mirova joins call for stronger biodiversity policies ahead of COP15

Published on 09/21/2021 News

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.

Mirova

 

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:

  1. Agree on an ambitious and transformational post-2020 GBF that requires the alignment of financial flows with global biodiversity goals;
  2. Strengthen national biodiversity strategy and action plans (NBSAPs) to ensure successful implementation of the GBF and enforce domestic policies to deliver biodiversity targets;
  3. 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;
  4. Remove harmful subsidies and reverse them into aligned subsidies to bring about economic change and reduce market failures.

Read the statement

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.

For more information, consult the latest progress report of our biodiversity roadmap

 

[1] Source: New Nature Economy Report II, The Future Of Nature And Business, World Economic Forum, 2020
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