We were delighted to host ‘Natural Capital and Biodiversity’ which is part of our “COP Talks” series. This series built on the themes and ambitions of the COP26, which was held in Glasgow on November 1 - 12. The financial services industry is an integral player in the quest to achieve a net-zero economy and to support broader sustainable development goals, and our COP Talks covered some of the toughest yet most important issues facing the industry.
The global economy and financial markets are tremendously reliant—indirectly or directly—on nature and all the biodiversity it offers. Marine and agricultural resources, our atmosphere, forests, animal life—all of these benefit from the focus on climate change in the global policy agenda. Efforts including the Sustainable Markets Initiative/Terra Carta, Finance for Biodiversity (F4B), and the Taskforce on Scaling Voluntary Carbon Markets are all working on solutions that engage the financial sector. But natural capital-related risks—and opportunities—remain poorly understood, while the value of natural capital has been difficult to quantify. The new Taskforce on Nature-related Financial Disclosures (TNFD)—like the TCFD before it—will develop recommendations for more effective nature-related disclosures, geared towards providing decision-useful data at company, asset and fund levels. How can the private sector help?
- Elizabeth Mrema, Executive Secretary of the Secretariat of the Convention on Biological Diversity, United Nations Convention on Biological Diversity (UNCBD); Co-Chair, Taskforce on Nature-related Financial Disclosures
- Gill Lofts, Global Sustainable Finance Leader, EY
- Marine de Bazelaire, Group Advisor on Natural Capital, HSBC
- Judson Berkey, Head of Sustainability Regulatory Strategy, UBS
- Mariuz Calvet Roquero, Director, Sustainability & Responsible Investing, Banorte
- Gill Lofts, Global Sustainable Finance Leader, EY (moderator)
- Vian Sharif, Head of Sustainability, FNZ