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BNP Paribas AM, NZ Super and Refinitiv join leadership group of new Australasian nature initiative

Eight organisations join leadership group of RIAA’s initiative, which will seek to translate the TNFD into the region’s context

BNP Paribas AM, KPMG, NZ Super, Pollination and Refinitiv are among the institutions that have joined a leadership group for the Responsible Investment Association Australasia’s (RIAA) new nature-focused initiative, RI has learnt.

Launched today, the $9tn investor network’s Nature Working Group has been formed to address nature-related financial risk and boost investment opportunities supporting nature. It will look at how the Taskforce on Nature-related Financial Disclosures (TNFD) translates to the region and build out related recommendations from the Australian Sustainable Finance Initiative and the Aotearoa Circle Sustainable Finance Forum’s roadmaps. 

Core members of the working group will be from the finance sector, but it will also engage and work with government and civil society. 

“While international developments are gathering pace, the finance community in Australia and Aotearoa New Zealand needs to understand relevant nature-related liability risks, as well as seize new opportunities, in our unique contexts,” Estelle Parker, Executive Manager, Programs at RIAA and Interim Chair of the Nature Working Group, told RI.

“This Working Group will fill a gap as a key platform for finance sector participants to learn, understand and respond to nature-related financial risks and opportunities,” she added. 

Moving forward, the group will meet bi-monthly during its inception to build momentum, then quarterly in 2022. The Leadership Group, which also currently includes National Australia Bank, Altiorem, and law firm Minter Ellison, will meet more regularly and start developing its work plan in the next few weeks.

RIAA has asked for nominations for two Co-Chairs, who will be selected by the leadership group.