The UN-backed network Principles for Responsible Investment (PRI) has launched “Spring,” an initiative aimed at halting or reversing nature loss by 2030. Announced during London Climate Action Week, Spring is supported by a coalition of 200 investors managing $15 trillion in assets. PRI has published a list of 60 investors, who will play active roles either as collaborating or lead investors focusing on specific companies to improve corporate practices and political engagement on nature-related risks.
Spring will target regions with critical ecosystems at risk, including Brazil and areas sourcing forest-risk commodities. Key sectors include food and agriculture, mining, automotive, chemicals, and banking, with prominent companies like L’Oreal, Toyota, Bayer, and Brasil Foods SA involved.
Major global asset owners and managers backing the initiative include AP2, AP3, AP7, Aviva, Allianz Global Investors, and others. David Atkin, CEO of PRI, highlighted the importance of addressing nature-related risks such as deforestation and biodiversity loss.
Following the launch, PRI will form smaller engagement groups to develop strategies for the 40 key companies, focusing on improving business operations, supply chain management, and political engagement regarding nature impacts and risks.
With collaborative initiatives such as Nature Action 100 already underway, the PRI has stated its intention to align the objectives of Spring accordingly, with a view to avoiding any duplication of efforts.
Spring Defined
Spring is a PRI stewardship initiative for nature, convening investors to use their influence to halt and reverse global biodiversity loss by 2030
The engagement efforts with target companies will focus on three main areas:
Business operations, strategy and risk management
Companies will be expected to commit to timebound biodiversity-related targets in line with global agreements along with the appropriate governance structures. They will also be required to report on nature-related risks via accepted standards such as those of the Taskforce on Nature-related Financial Disclosure (TNFD).
Supply chain management
The target companies will need to implement and report on responsible sourcing policies that seek to eliminate deforestation and the conversion of natural ecosystems in direct or indirect supply lines while ensuring respect for human rights.
Political engagement
In an attempt to avoid greenwashing by target companies, the PRI has set out strict requirements regarding their lobbying activities under the Spring initiative. Companies will be expected to disclose their affiliation to trade associations, think tanks, or other entities that may be engaging with policymakers on their behalf. Where there is misalignment with stated biodiversity objectives the companies will be required to take corrective action.
Source: PRI
