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Nature Action 100 has formed the initial investor engagement teams for its target companies, Responsible Investor can reveal. 

The initiative, billed as the biodiversity answer to Climate 100+, finally named target firms and investor participants in September after being “soft launched” at COP15.

In October, RI surveyed the 190 investor participants in NA100 about their engagement ambitions. Just over 50 investors provided an exact or approximate figure for the number of targets they had nominated themselves for, with most stressing the importance of prioritising quality over quantity.   

An NA100 spokesperson told RI that initial engagement teams have now been formed for all 100 target companies. 

The average engagement team size is six investors, the spokesperson said. One target has only one engager, with the rest having at least two participating investors. 

The spokesperson added that a “small handful of investor participants” have opted to engage a company individually under the initiative rather than joining a team. “In these cases, the companies also have a dedicated engagement team,” they said. 

NA100 is “not currently disclosing the make-up of engagement teams”, according to the spokesperson. 

There is also set to be an update in “due course” regarding the initiative’s benchmark, they added. 

RI analysis

Later this week, RI will publish its initial analysis of the number, type and names of firms that investors have been assigned, after conducting a follow-up survey of the 190 participants. 

To whet your appetite, here are some teaser findings. 

Of the investors contacted, 76 gave an exact or approximate figure for the number of firms they have been assigned. 

Most respondents are engaging with fewer than five firms under the initiative. Only 14 investors are engaging five or more, and just two said they are involved in 10 or more engagements. 

One investor told RI that the NA100 team had tried to “balance the geographical diversification, size and type of investors in each core group and have kept these groups quite small to aid co-ordination between investors and the company”. 

They added that they believe the initiative is aiming to draw on “wider supporting investors at key moments as the engagements progress”. 

Several respondents noted that they have previously engaged their assigned companies on biodiversity-related or other ESG topics, including climate change. 

The location of firms – for a variety of reasons – was also a point flagged by respondents, as was a desire to engage firms in sectors that “receive less attention”. 

Notably, nine respondents said they are not assigned to any firm. Reasons include a lack of capacity and not holding any of the focus companies.