Finance sector is urged to ‘channel inner Attenborough’
THE financial services sector have been urged to ‘channel your inner David Attenborough’, get serious about biodiversity, and pursue the real market opportunities that exist.
Dr Gemma Cranston, executive director of Pollination Group, a specialist climate change investment and advisory firm, warned of the dangers of biodiversity loss and species extinction.
‘We simply can’t exist unless we have nature there to underpin us, and biodiversity underpins nature,’ she said.
She described the Taskforce on Nature-related Financial Disclosures, a risk management and disclosure framework for organisations to report and act on nature-related risks as ‘an incredible starting point’.
‘This is the first time we are going to have a framework that allows corporates and financiers to understand how they can report on risks and opportunities associated with nature.’
But she warned that there was still a huge amount to be done in this area.
‘Channel your inner David Attenborough, but also let’s get commercial about this and find out what the real market opportunities are.
‘To work with nature, rather than against it. I think we need true systems change and the only way to do that is collaboratively, with passion and ambition.’
Discussions in following panel sessions urged financial services to consider nature as having a significant economic and monetary value.
‘You in this room have a fundamental ability to drive change. We have to give nature space, and enable it to be resilient, healthy, and thriving. We have to bring nature into the economy as a monetary value,’ said Ian Dunn, chief executive of Plant Life.
The panel once again went over the opportunities offered by next-generation wealth transfer, as young people demonstrate their concerns for the environment and use capital to help.
‘New holders of wealth are much more purpose driven, values driven and therefore have ideas about what they want to avoid, where they want their capital allocated and they want to feel values alignment with their investment portfolio,’ said Kate Rogers from Cazenove Capital.