Federated Hermes, Impax and abrdn are among 20 financial institutions to have joined the UK Financial Institutions for Nature group, which aims to invest in the UK’s nature recovery.
The group, which was launched today by the Green Finance Institute’s (GFI) nature programme, is open to any financial institution engaged in UK nature finance and is largely focused on identifying how the UK government could be better mobilising private investment into nature.
“Private sector investment is urgently needed if we hope to reach the UK’s nature goals this decade,” said Dr. Rhian-Mari Thomas (pictured), CEO of the Green Finance Institute.
The group will also look to provide feedback to the government on initiatives such as the development of a national database to track progress towards the Treasury’s target of £1bn per year of private sector nature investment by 2030, the development of “high-integrity” domestic nature markets, and the UK’s uptake of the Taskforce on Nature-related Financial Disclosures when that launches in September.
Thomas added: “The market infrastructure is being put in place to enable the flow of private sector capital into nature recovery and nature-based solutions, but there is still much to be done.”