PRI launches ‘Spring’ initiative to help investors tackle nature loss

UN-backed network Principles for Responsible Investment has today launched “Spring” a new initiative to help investors target key corporations in order to halt or reverse nature loss by 2030.

The new initiative, launched at the London Climate Action Week is supported by a coalition of 200 investors managing a combined $15trn in assets and will focus on engaging with 40 key companies as well as an additional 20 focus companies to drive better corporate practices and political engagement on nature-related risks.

The Spring initiative will focus on geographies housing critical natural ecosystems at risk of forest loss and land degradation. This includes emerging markets such as Brazil, and regions sourcing forest-risk commodities. Target sectors include food and agriculture, mineral mining, automotive, chemicals, and banking, with prominent companies like L'Oreal S.A., Toyota, Bayer, and Brasil Foods SA being central to the engagement strategy.

It is backed by major global asset owners including AP2, AP3 and AP7, Brunel Pension Partnership, Swiss Ethos Foundation, Caisse de dépôt et placement du Québec (CDPQ), and German pension fund Bayerische Versorgungskammer and Cardano.

On the manager side, the initiative is backed among others by Aviva, Allianz Global Investors, Degroof Petercam, CCLA, Storebrand and Nomura.

David Atkin, CEO of PRI, emphasised the critical role of investors in this initiative: “What we’re seeing today from investors is a recognition of the importance of nature when managing material investment risks, including deforestation and biodiversity loss. Spring provides an opportunity for our signatories to address the financially material risks stemming from global nature loss.

Following the launch, PRI will convene smaller engagement groups in the coming months to develop targeted and constructive engagement strategies for the 40 key companies.

These companies have been identified as influential actors in the dynamics of forest loss and land degradation due to either their direct or indirect exposure or their significant role in engaging policy makers, PRI said.

Investors will then engage with the firms in question to improve the nature impacts and risks in their business operation and risk management; supply chain management and political engagement.