Post by bonnasuttadhar225588 on Feb 15, 2024 0:24:20 GMT -6
“Without nature, we have nothing,” said Antonio Guterres, head of the UN, when opening the Biodiversity Conference, also known as COP15, which began on Wednesday, December 7, 2022 in the city of Montreal, Canada. Which seeks to establish global objectives that stop the alarming destruction of biodiversity and the cost associated with it. In line with these ambitious goals, luxury fashion brand Kering partnered with multinational beauty company L'Occitane Group to launch a €300 million Climate Fund for Nature at this COP. We tell you the details! Business alliance launches Climate Fund for Nature The two leading companies in the luxury fashion and beauty sectors have committed to creating a Climate Fund for Nature that will mobilize financing for projects that contribute to restoring and protecting nature, training farmers and empowering people. women. To achieve this, they have initially committed to a fund of 140 million euros with the total objective of 300 million euros. Additionally, the Fund will be open to other businesses to help support the scale-up of on-the-ground projects focused on restoration, regenerative agricultural practices, and carbon credits.
Recently, WWF's Living Planet Report 2020 warned about the massive loss of biodiversity that the planet has had, much of the loss being due to habitat destruction due to agriculture or unsustainable logging. and climate change is expected to exacerbate that situation. According to the report, without ambitious conservation measures it will be impossible to bend the curve of Saudi Arabia Email List wildlife loss. To change things, it is essential to modify the way we produce and consume, and move towards more sustainable ways, reducing waste and adopting healthier and more responsible habits. Financing to protect and restore biodiversity The Fund, which will be officially inaugurated in 2023, will be managed by Mirova, the subsidiary of Natixis Investment Managers that promises to support the restoration and conservation of biodiversity on a global scale. According to Kering's director of sustainability and institutional affairs, Marie-Claire Daveu, the collaboration with Mirova and L'occitane Group is part of the fashion and beauty sector's efforts to finance the necessary nature-based solutions to halt and reverse the decline in biodiversity by 2030, and thus begin to restore natural systems.
Previous research suggests that nature-based investments need to at least triple by 2030 and quadruple by 2050, equivalent to up to $10 trillion and an annual investment of $674 billion. Therefore, both companies have decided to focus on biodiversity as part of a broader Corporate Social Responsibility (CSR) strategy. L'Occitane Group seeks to be net positive in nature In addition to the Fund initiative, the French multinational announced its intention to be net positive in nature by 2025. The latter refers to the overall negative impacts of a project on biodiversity being outweighed by the biodiversity gains achieved through conservation projects in the same region. To achieve this, L'Occitane Group's strategy will basically focus on four principles of intervention: avoiding negative impacts on nature whenever possible; minimize negative impacts where complete elimination is not possible; restoring ecosystems in regions from which materials are sourced and collaborating along the value chain for “collective action.” L'Occitane Group detailed that its strategy was developed from a biodiversity diagnosis, which determines the company's impact to date, carried out in partnership with the Science-Based Targets Network .
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