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Schroders, Fidelity Join $10 Billion Biodiversity Alliance

The Jurura river in the municipality of Carauari, in the heart of the Brazilian Amazon Forest. Photographer: Florence Goisnard/AFP/Getty Images

(Bloomberg) —

Asset managers including Schroders plc and Fidelity International have agreed to join an alliance that seeks to protect biodiversity as part of an initiative set up by Prince Charles.

The group of 12 firms is signing up to the Sustainable Market Initiative’s Natural Capital Investment Alliance, and agreed to “mobilize” more than $10 billion of private capital by the end of next year as part of the move, according to a statement on Tuesday.

Members of the alliance have launched, or plan to launch, investment products aligned with themes that range from sustainable forestry and land management to businesses supporting the shift away from a “linear and wasteful economy to one that emphasizes circularity as a key component of alleviating pressure on forestry, biodiversity, and ecosystems,” the Sustainable Markets Initiative said. 

SMI said other signatories include 12Tree, ASN Impact Investors, the International business of Federated Hermes, Fondaction, Foresight, Impax Asset Management, Kilter Rural, Posaidon Capital, Sail Ventures, and SLM Partners. The announcement comes as world leaders meet in Scotland for the COP26 climate talks.

Existing members of the Natural Capital Investment Alliance include Climate Asset Management, which is a partnership of HSBC Asset Management and Pollination. Other current signatories are Lombard Odier, and Mirova, an affiliate of Natixis Investment Managers, who were founding members of the NCIA. 

The alliance was created by Prince Charles in January. “The interdependence between human health and planetary health has never been clearer,” he said in the statement. “But time is fast running out” and “we urgently seek to rescue the situation.”

© 2021 Bloomberg L.P.

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