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While the financial world shifts its gears towards net-zero targets, a fresh report from non-profit CDP reveals a potential pitfall: the oversight of nature-related dependencies. The financial sector's commendable 95% commitment to tackling climate change is a big leap forward; however, a mere fraction—less than 30%—is venturing into nature-related considerations, encompassing factors like forest and water security.
Western lowland gorilla walking in Marantaceae forest, Republic of the Congo.
CDP's report, Nature in Green Finance, paints a striking picture: Financial services, despite their climate progress, trail behind in incorporating nature into their strategies, implementation, management, and measurement. In this era of intertwined environmental challenges, the report underscores the urgent need for a holistic approach, one that emphasises the interconnectedness of climate and nature impacts.
The findings, based on a comprehensive analysis of 550 financial institutions, ring a cautionary bell. Neglecting the confluence of nature and climate could blind companies to potential opportunities worth over $5 trillion. In essence, their reluctance to fully embrace nature might be stifling progress.
CDP emphasises financial institutions' role as vanguards of transformative change. ‘Banks are already leading by establishing governance and board-level expertise to integrate nature-related issues across their operations,’ says CDP. The report envisages financial players as catalysts for policy evolution and proponents of comprehensive environmental data.
Claire Elsdon, Global Director at CDP, acknowledges the strides made in climate-conscious decision-making. Yet, her appeal is clear: The integration of nature into the financial fabric is a necessary next step. Financial institutions must ‘fully commit to addressing environmental issues holistically’ to ensure resilience and net-zero success.
In a world where green resilience hinges on comprehensive, credible data, CDP's report is a clear call. The financial world's navigation towards net-zero shores demands the incorporation of climate and nature considerations. A future-proofed portfolio and a resilient global financial system lie within reach, powered by intentional environmental actions.
At DGB Group, we are committed to supporting companies in reaching their net-zero targets through the power of nature and the carbon market. Through our transparent nature-based solutions, we generate top-quality carbon and biodiversity credits that drive the success of net-zero strategies and generate benefits for nature and local communities. Our projects do more than just sequester carbon; they restore biodiversity and vital habitats, protect essential ecosystems, and empower local communities.
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