“What we’re seeing today from investors is a recognition of the importance of nature when managing material investment risks, including deforestation, biodiversity loss, when aligned with their individual fiduciary duty,” said PRI Chief Executive David Atkin in a statement.

 

All of the companies are major players in the food and agriculture, mineral mining, automotive, chemicals or banking sectors, and either have a large exposure to nature loss or a influential role in engaging policymakers.

 

Among them are French cosmetics company L’Oreal, where talks will be led by CCLA Investment Management and Dorval Asset Management; and Japanese carmaker Toyota, where talks will be led by Nomura Asset Management.

 

In a statement, Toyota said it had been working with stakeholders to promote conservation for many years, and would “continue to engage in open and constructive dialogue with investors and initiatives”.

 

L’Oreal did not immediately reply to a request for comment.

 

The talks will aim to improve the impact on nature of the companies’ operations and risk management, their supply chain management and political engagement, the PRI said.

 

“Halting and reversing forest loss and land degradation is fundamental for a healthy climate, a sustainable future and long-term investment results,” said Emine Isciel, Head of Climate and Environment, Storebrand Asset Management.

 

“We recognise the need for sound public policy to achieve this goal.”

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Jun 26 2024 | 9:35 AM IST