At the UN’s environmental meeting COP16 in Colombia, AP7 and 26 large pension funds call on the world’s governments to take stronger action on biodiversity.
Behind the call are 27 pension funds and capital owners from Australia, Canada, Denmark, the Netherlands, Sweden, Switzerland, the USA and the UK, which together manage USD 2,500 billion. From Sweden, in addition to AP7, AP1, AP3, AP4 and Länsförsäkringar are behind the call
The initiative is run by the British Church of England Pensions Board together with AP7 and the British Universities Superannuation Scheme, the Canadian Caisse de dépôt et placement du Québec and the Australian HESTA, Health Employees Superannuation Trust Australia.
– Lost biodiversity is a risk for our entire global economy. It is a systemic risk that investors cannot avoid through diversification, as the effects are widespread outside defined value chains. Companies must contribute to a nature-positive society in order to maintain long-term profitability. This is possible to achieve if we set common rules and policies around the world. It is in the interest of companies, investors and governments alike, says Flora Gaber, Responsible ESG analysis at AP7.
The call to governments is to take ambitious policy and regulatory action to halt and reverse the loss of global biodiversity. Governments are encouraged to set ambitious national targets. As well as setting plans for sectors, implementing mandatory information on nature for companies, establishing regulations that address the five drivers of biodiversity loss and developing financial mechanisms for nature.
The five drivers of biodiversity loss, as identified by the UN scientific panel IPBES (Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services), are degraded habitats, exploitation of species through fishing, agriculture and forestry, climate change, invasive species and pollution.
Source