At a glance
- Every investment must contribute to at least one target of the Kunming-Montreal Global Biodiversity Framework, ESG Dive reported.
- For advisors, the Kunming-Montreal targets and the Terra Carta give biodiversity portfolios named standards to document.
- The other three focus areas named by BofA and SMI are ecosystem protection and nature regeneration, support for the clean transition in industries and global supply chains, and the development of nature finance ecosystems.
BofA and King Charles's Sustainable Markets Initiative are backing the Lighthouse Initiative, a $40 million strategy that will take minority stakes in nature and biodiversity projects and technology businesses globally.
Every investment must contribute to at least one target of the Kunming-Montreal Global Biodiversity Framework, ESG Dive reported. That 2022 agreement includes conserving and managing at least 30% of the world's terrestrial, inland water, coastal and marine areas by 2030. Each holding must also align with the Terra Carta, the 2021 private-sector sustainability roadmap established by the former Prince of Wales.
For advisors, the Kunming-Montreal targets and the Terra Carta give biodiversity portfolios named standards to document. One of the strategy's four focus areas is improving measurement, monitoring, reporting and verification of sustainable outcomes.
The other three focus areas named by BofA and SMI are ecosystem protection and nature regeneration, support for the clean transition in industries and global supply chains, and the development of nature finance ecosystems. Eurazeo will manage the $40 million fund inside Future Industries Fund III, as Private Wealth Daily previously reported.
Reported by the Products desk from ESG Dive. Published . Corrections