A group of investors including BNP Paribas, Storebrand, Robeco and Mirova are calling for ESG data providers to develop ocean-related data points and tools further, providing innovative ways to capture investee dependencies, impacts, risks and opportunities.
In a statement, the group noted, in order for investors to make informed decisions on which companies to invest in, credible data that is consistent with international standards is crucial. However, a number of ocean-related sectors suffer from major data gaps, such as aquaculture, deep-sea mining, desalination, marine biotechnology, marine renewable energy, ports and shipping.
“The Kunming-Montreal Agreement (2022) has provided governments and non-state actors with frameworks for action that include overarching goals and targets, such as to protect 30% of the planet’s lands and inland waters, as well as of marine and coastal areas, by 2030. The agreement recognises the vital role that we as investors can play to halt and reverse biodiversity loss. The focus now needs to move to translate the commitments made in Montreal into concrete meaningful actions,” states the group’s statement.
Access to credible data, it goes on to say, will allow investors to embed ocean-related data into their analysis and assessments, highlight areas of ocean-related risks and opportunities within portfolios to improve decision-making, engage on ocean-related topics with investees and improve ocean-related literacy within their workforces.
The group has also developed a guide to help data providers understand investor needs. For example, performance indicators reflecting real impact using physical units – such as kilometres squared of sea use change – could be used, alongside data points on entire supply chains, local context given for fishing and arctic route trips, and ownership data made available so the ultimate owner of a given asset is known.
