BNP Paribas Asset Management, Federated Hermes, Mirova, Robeco and Storebrand Asset Management have stressed the “urgent” need for better data and tools on ocean biodiversity to support investment decisions in a joint statement. The group of investors is seeking innovative ways to capture investee’s dependencies, impacts, risks and opportunities related to ocean and support the implementation of the Kunming-Montreal Agreement. The statement highlights the importance of oceans as the world’s largest ecosystem, covering 71% of the earths’ surface and holding an annual economic value estimated at USD$2.5 trillion. According to the asset managers, data is lacking on areas including aquaculture, coastal and deep-sea mining, marine renewable energy, offshore oil and gas, and shipping. The group suggested improved data on performance indicators, supply chain, local context, and sector estimates would be useful, underlining the need for ease of use, flexibility, and transparency. The statement said the added tools and data would help investors make informed decisions about, and investment in, companies and activities that are causing or resolving this significant harm to ocean biodiversity, allowing them to allocate capital in a way that provides solutions to protect biodiversity. Credible data, consistent with international standards, would enable investors to highlight areas of ocean-related risks and opportunities within portfolios to bolster decision making, and engage on ocean-related topics with investees, the group said.
