Three UNJSPF staff members from the Office of Investment Management attended the UN biodiversity summit known as COP16, held this year in Cali, Colombia. Formally called the 16th Conference of Parties to the UN Biodiversity Convention, the biannual event brought together representatives from nearly 200 countries to advance a collective agenda for preserving and restoring nature.
“As an institutional investor, we play an important role in how the world combats the serious threat of biodiversity loss,” said Toru Shindo, UNJSPF’s Chief Investment Officer. “And as a universal owner, doing our part to protect the natural world is the responsible thing to do when it comes to our long-term financial sustainability.”
Alongside Mr. Shindo, Pedro Guazo, Representative of the Secretary-General for the investment of the Fund’s assets, and Lola Vernerey, Assistant Investment Officer on the Responsible Investment team, also attended.
Underscoring the importance of biodiversity, UN Secretary-General Antonio Guterres told delegates at the COP16 opening ceremony that “for humanity to survive, nature must flourish.”
Biodiversity degradation poses threats to a vast range of issues, including food systems, clean water, medicine and shelter. It also relates directly to endangered species and DNA from plants and animals that can be used for purposes such as developing vaccines and drought-tolerant crops.
Moreover, land and ocean ecosystems absorb more than half of global carbon emissions, making them an important factor in climate mitigation and achieving net-zero.
In December 2022, UNJSPF signed the COP15 Statement from the financial sector, which committed signatories to protecting and restoring biodiversity through financing activities and investment. It also called for an ambitious Global Biodiversity Framework, which parties at COP15 in Montreal adopted shortly thereafter. The resultant Kunming-Montreal Global Biodiversity Framework is sometimes called the Paris Agreement for Nature.
UNJSPF extended its biodiversity efforts in September 2023 when it joined Nature Action 100, a global investor initiative to address nature and biodiversity loss through engagement.
Leading up to COP16, UNJSPF signed a public statement from the Church of England Pensions Board calling for governments to address biodiversity loss. The Fund also recently signed the Investor Action on Antimicrobial Resistance (AMR) Public Investor Statement, the Finance Sector Statement to end plastic pollution, and the Global Investor Statement to Governments on the Climate Crisis, and also committed to public reporting in line with the Taskforce on Nature-related Financial Disclosures.
“This is all part of our fiduciary duty,” said Mr. Shindo, “to our beneficiaries, retirees and the world.”
