Many companies depend on ecosystem services, either directly in their own operations and production, or indirectly through their value chains. In addition, the activities of many companies affect biodiversity.
The main message in the expectation document is that companies that either depend on or significantly influence ecosystems and biodiversity shall integrate these considerations in their governance structure, strategy, risk management, measurement and reporting.
«An increasing loss of species and deterioration of ecosystems can affect companies’ ability to create value for investors in the long term. Companies must therefore understand their dependency on and impact on nature, and handle both substantial challenges and opportunities through more sustainable use of ecosystems”, says CEO of Norges Bank Investment Management Nicolai Tangen.
The expectation document will be an important tool in our ownership work going forward.
«Biodiversity and ecosystems are topics that are important for the global economy and for the companies we invest in. Therefore, it’s also important for the fund to work proactively with these topics as a part of our work with responsible investment, says Chief Governance and Compliance Officer Carine Smith Ihenacho.
The expectations are directed against companies that either directly or through their operations and productions, or indirectly through their value chains, depend on or affect biodiversity and ecosystems through their business activities. Examples of relevant sectors are agriculture, forestry, consumer goods, pharmaceutical products and tourism, in addition to companies in the energy, construction, infrastructure and mining industry.
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