DNB Asset Management, Fidelity International and Manulife Investment Management are among the 20 new financial institutions to sign the Finance for Biodiversity Pledge.
Launched last year by 26 founding organisations, which included HSBC Global Asset Management, Axa Group and Allianz France, signatories commit to collaborate, engage, set targets and report on biodiversity before 2025.
With these latest additions, which also include for example Achmea and La Banque Postale Group, the Pledge now stands at 75 signatories with more than €12trn in assets under management.
In June RI reported that the Pledge was exploring the possibility of developing a ‘Nature Action 100’ collective engagement initiative with Robeco, the World Bank, the World Benchmark Alliance, and other unnamed global investors. This followed RI exclusively revealing in April that efforts on collective engagement for biodiversity were underway by the Pledge Foundation’s engagement working group.
And just yesterday the Pledge’s Foundation, alongside non-profit Ceres, coordinated a $10trn investor coalition to call for government action on biodiversity ahead of COP15.
There will be another round of signatories announced during the European Business and Nature Summit on 30 November and 1 December. The deadline for new signatory financial institutions to register is 19 November.