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Nature “Consistently Overlooked” by Financial Institutions – CDP

A report by global non-profit disclosure platform CDP has found that financial institutions are “failing to integrate nature and climate”, with the issue being “consistently overlooked” in financial decision-making. According to the ‘Nature in Green Finance’ report, urgent action, based on a “holistic approach”, is required to avoid “ecosystem collapse” and reach net zero emissions by 2050. The report found that while almost 95% of financial institutions’ business strategies or financial planning are now influenced by climate change, less than a third are influenced by forest issues and water security. The report noted that the majority of institutions “lack the necessary governance mechanisms and board-level expertise” to integrate nature-related issues across operations. It also flagged that despite there being more than US$5 trillion in opportunities across climate, forest, and water combined, less than 30% of financial institutions are capitalising on these opportunities. Claire Elsdon, Global Director, Requesting Authorities – Capital Markets at CDP, said: “Financial institutions must fully commit to addressing environmental issues holistically to better position them to capitalise on emerging opportunities; offer green financing solutions that support businesses in mitigating deforestation and water-related impact; get ahead of upcoming reporting requirements; rapidly decarbonise their portfolio and meet net zero ambitions.” 

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