2024-01-15 19:18:14
“Financial institutions are facilitators” to “connect investors,” said the CEO of UBS. “The main driver must come from politics. We cannot be,” he added.
UBS boss Sergio Ermotti expects more from governments to mobilize private capital in the face of biodiversity loss. On Monday in Davos (GR), the bank announced that it would communicate its guidance on this issue for the first time in 2024.
“Financial institutions are facilitators” to “connect investors,” Mr. Ermotti told the press at the World Economic Forum (WEF). “The main driver must come from politics. We cannot be,” he added.
The bank wants a common legislative and regulatory framework at the international level to attract investments. In a report published Monday, UBS admits that finance must support the acceleration of new technologies to reduce the loss of biodiversity by 2030. Around 60% of the world’s gross domestic product (GDP) depends more or less on nature.
Mr. Ermotti calls for collaboration between States, academics, the private sector and populations. The investment gap to reduce biodiversity loss reaches $700 million per year by 2030. The bank is calling for innovative approaches.
For its part, it will publish this year with its results indications in accordance with the international working group on nature-related financial declarations (TNFD).
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