Cutting-edge biodiversity module in ENCORE enables banks and investors to transition agriculture and mining sctors towards nature-positive outcomes. In a critical decade for climate and nature, banks and investors can now explore their portfolio’s impact on species extinction risk and ecological integrity, and take immediate action to reverse biodiversity loss.
- New UN-backed ENCORE biodiversity module has been launched, enabling financial institutions to explore to what extent their financial portfolio indirectly drives species extinction risk and impacts ecological integrity.
- Focused on the mining and agriculture sectors which are particularly exposed to biodiversity risks, the tool includes guidance for engagement, enabling financial institutions to take immediate action to transition these sectors towards a nature-positive future.
- Analysis using the new module suggests that:
- Over 40% of mining activity globally occurs in ecoregions with strong declining trends in ecological integrity.
- 50% of the mining sector’s potential for reducing species extinction risk lies with just over 2% of mines globally. Ambitious biodiversity management within these locations is crucial for avoiding species extinctions.
- Over 60% of the global potential for reducing species extinction risk across all land area falls within cropland.
- The module allows financial institutions to identify pathways to increase positive impacts within agricultural and mining portfolios, as well as transition mining portfolios to a low energy future.
- Over 30 financial institutions have taken a pioneering role in the development and testing of the module (full list below).