The urgency of taking action for climate and biodiversity
In this context of growing change, all players must mobilise without delay. “The most recent data show that we are overexploiting the planet’s resources by at least 75%,” observes Rhian-Mari Thomas, Chief Executive Officer of the Green Finance Institute. “This is like living off 1.75 Earths! Companies can no longer ignore the degradation of biodiversity, nor leave its resolution to States or Non-Governmental Organisations (NGOs).” “This is all the more true,” adds Vincent Sciandra, Founder and CEO of the cleantech company METRON, “considering the role that nature plays in the absorption of CO2. We must act simultaneously against climate change and biodiversity loss.”
“We aim to evolve our economic and financial system so that it incorporates the value of nature and contributes to preserving the ecosystems on which we all depend.”
Rhian-Mari Thomas, Chief Executive Officer of the Green Finance Institute
Measuring and planning the ecological transition
To make industry greener, METRON targets reducing companies’ carbon footprint. “With the help of our technological platforms, we give them the keys to measure their energy consumption and plan their ecological transition. To do this, we help them build, within a limited time frame, a precise action plan, which may involve a change in machinery, behaviour or even revenue. While the transition is complex, the desire to transform is increasingly shared. Measurement enables us to identify the most effective actions to turn this desire into reality,” explains Vincent Sciandra.
“I am convinced that a company’s ability to go green will be an indicator of performance in the future, in the same way as its commercial dynamism and its financial solidity.”
Vincent Sciandra, Founder and Chief Executive Officer of METRON
Promoting the creation of environmental markets
For its part, the Green Finance Institute is taking action to overcome obstacles blocking the scaling up of solutions for nature. Indeed, the annual financing need for the restoration of nature is such — €665bn worldwide, according to the estimates from the last United Nations Convention on Biological Diversity (CBD 15) — that opening investments up to private players is essential. “We support the supply of investment-ready projects, including carbon sequestration and reducing the risk of flooding. We are also strengthening demand by working with private investors to encourage them to engage in these emerging markets in connection with nature,” explains Rhian-Mari Thomas.
Minimum reduction in net greenhouse gas emissions by 2030 (compared to their level in 1990) that the Member States of the European Union must achieve, as set by the climate law adopted in June 2021.
Average decrease in fauna over the last 50 years. One million species are now threatened with extinction.
Source: Word Economic Forum, October 2022.
Banks at the heart of the ecological transition
Banks have a leading role to play in supporting companies in financing this transition. The Taskforce on Nature-related Financial Disclosures (TNFD) is one of the most promising initiatives. This working group, whose General Secretariat is hosted by the Green Finance Institute, was supported by BNP Paribas even before its launch. In September 2023, it will publish an innovative framework to identify and report on all risks related to nature, including biodiversity. An essential step to actively involve financial institutions and companies.
The Green Finance Institute
Launched in the summer of 2019, the Green Finance Institute (GFI) is a commercially focused, philanthropically funded organisation, seed funded by the UK government. It positions itself as the leading forum in the UK for public and private sector collaboration in the field of green finance, with the aim of mobilising capital to accelerate the domestic and international transition to a sustainable, resilient and low-carbon economy.
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METRON
Founded in 2013, METRON enables large organisations to analyse and optimise their energy consumption thanks to a technological platform that collects, aggregates and analyses in real time, the energy data of companies in all sectors of activity to reduce their energy bills and carbon footprint. Operating in 30 countries through its 9 subsidiaries, the cleantech launched Decarb Fast Track in November 2022, a European decarbonisation programme for industrials designed in collaboration with Dalkia, Amazon Web Services and BNP Paribas.
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Find Rhian-Mari Thomas’ and Vincent Sciandra’s points of view, and other experts’ interviews in our 2022 Integrated Report.
