NEW FUNDING

New funding will boost efforts towards a greener economy

Panorama overview of Austrian mining area with green valley in the background

Amid increasing concerns about the financial consequences of biodiversity loss, a new research programme will help accelerate efforts to integrate consideration of biodiversity and climate resilience into financial decision-making. Photo: S. Pichler/Unsplash

SRC to lead SEK 50 million consortium helping finance sector curb biodiversity loss and protect nature

Story highlights

  • Mistra biodiversity finance programme is a four-year programme
  • It will provide cutting-edge research to support financial sector efforts towards a more nature positive economy
  • The programme will partner with selected companies and financial sector actors.

Stockholm Resilience Centre (SRC) will host a new multi-partner research programme that will help the global financial sector develop strategies to protect nature and halt current biodiversity loss.

The overall aim of Mistra biodiversity finance programme (BIOFIN) is to facilitate real change by providing cutting-edge transdisciplinary research to develop the capacity of the financial sector to contribute significantly and meaningfully to a nature positive economy.

The four-year programme is funded by the Swedish Foundation for Strategic Environmental Research (Mistra). It will break new ground because it consists of researchers that rarely interact, ranging from computational biology to trade economics and philosophy.

It builds on considerable research already conducted by the SRC and its partners and will capitalise on other Mistra programmes such as Mistra Food Futures and Fairtrans.

We will work to ensure that the mainstream of finance better addresses the complexity of the biosphere, while also exploring alternative ways of connecting finance and the living world.

Garry Peterson, programme director

Impact partners to accelerate change

The ambitious programme will partner with selected companies and financial sector actors. These partners have been selected because of their track record of innovative thinking and experimenting with new approaches to finance.

Amid a growing recognition within the finance sector that biodiversity loss has a dramatic impact on the global economy, BIOFIN will thus help accelerate efforts to integrate consideration of biodiversity and climate resilience into financial decision-making.

Sebastien Eisinger, Pictet Group’s Managing Partner, says: “Biodiversity is a major ESG topic and we’re delighted to extend our relationship with the SRC and work with consortium partners to advance our collective knowledge on interactions between biodiversity and investments.”

Beatrice Crona, professor at the SRC and a senior scientific advisor to the programme adds: “The financial system is a major force in undermining biosphere resilience, but it also has the potential to promote and restore nature. Different financial actors have different roles to play in the transformation to nature positive future, and we will develop a range of tools and strategies that will help them realize their potential.”

Partner overview

Consortium partners

Stockholm Resilience Centre (programme host)

Swedish Environmental Research Institute

University of Gothenburg

The UK Centre for Greening Finance & Investment

Museum of Natural History, Stockholm

Impact partners:

Pictet Asset Mangement: Independent asset manager, overseeing more than USD 284 billion of investments across a range of equity, fixed income, alternative and multi asset products

Finance for Biodiversity Foundation: Non-profit organization, convener of financial institutions pledging for biodiversity protection and restoration.

Principles for Responsible Investment: Convener and platform for an international network of investor signatories, supported by the UN.

Swedish Investors for Sustainable Investment: Coalition comprising 21 of the largest Swedish institutional investors, convened under SIDA.

2050 Venture Capital Fund: A progressive and innovative venture capital fund initiated with the vision of funding sustainable and transformative businesses.

Sustainable Finance Lab: A transdisciplinary research and competence building hub, comprised of representatives from six Swedish research institutions.

Natural Capital Project, Stanford University: A partnership of leading academic institutions and environmental NGOs, in which SRC is a core partner.

Published: 2022-03-31