Ten financial institutions endorse NCD
Meanwhile, the World Wide Fund for Nature (WWF), the Carbon Disclosure Project, Fauna and Flora International and Conservation International are the first four non-governmental, not-for-profit organisations to back the initiative. For WWF, “integration of natural capital into financial products and services is a promising step towards finance enabling the scale and shift of investment required for a flourishing natural world.”
According to Pax World, the inclusion of environmental, social and governance (ESG) criteria in the investment process helps “identify better-managed companies” and construct portfolios with “better long-term investment prospects”.
It says that the environment and climate change play a significant role in its ESG approach to its investment practices. “Specific attention is being paid to companies which reduce waste and emissions to air, water and soil; prevent pollution; practice recycling and energy efficiency; understand and work to reduce their impact on climate change; and accurately disclose their environmental performance and policies to investors.”
Pax World is the third US endorser of the Natural Capital Declaration, after Zevin and Caledonia Wealth Management.
The other two new supporters are Mutualista Pichincha from Ecuador and the Guernsey-based Oppenheim and Co Ltd.
For Mutualista Pichincha, endorsement of the Natural Capital Declaration is an opportunity to expand the institution’s existing CSR work to include a broader range of ESG considerations.
Meanwhile, asset manager Oppenheim and Co Ltd joins the list of signatories of the Declaration after having launched the Gaia Opportunities Fund in Luxemburg, to invest in themes related to climate change, inflation and population growth, and to donate part of the performance fee to sustainable projects.
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