Integrating Finance and Biodiversity for a Nature Positive Future is £7 million programme co-led by NERC and Innovate UK to develop the solutions needed to embed the values of biodiversity in financial decision making.
This investment will build a national multi-stakeholder community that can drive the development of knowledge, tools and skills to incorporate biodiversity-related risks and opportunities into planning, reporting and investment decisions for the finance and business sectors.
Twelve projects have been launched to explore the gaps and improve integration between the financial system and biodiversity.
The new projects are part of the first phase of the ‘integrating biodiversity into finance: building a nature-positive future’ initiative and will start in 2023.
The longer-term aim is to build a multi-stakeholder community that can drive the development of knowledge, tools and a skilled community to incorporate reporting biodiversity for all business sectors.
Embedding biodiversity into finance
The purpose is to foster a holistic approach to develop the solutions needed to embed the values of biodiversity into finance.
The phase one awards will seed partnerships and co-design from the outset, bringing together researchers and experts from the finance and business sectors.
Addressing knowledge gaps
The finance system has a key role in shaping how the global economy responds to the intertwined challenges of biodiversity loss and climate change.
The recent Nature of Business UK survey found the majority of business leaders want to take steps to tackle biodiversity loss, but progress has been slow for a number of reasons.
The finance sector and businesses want better information and ‘decision grade’ data to help them incorporate biodiversity-related risks and opportunities into their strategic planning, risk management and investment decisions.
They also want to understand how biodiversity contributes to and is impacted by activities including along global supply chains.
Tackling biodiversity loss
These phase one projects involve academic institutions working in partnership with a wide range of financial sector and business partners.