LET’S TALK ABOUT SUSTAINABILITY
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— 03.02.2022
Biodiversity is at the heart of the sustainable transition
The protection of biodiversity has returned to the fore, having long been overshadowed by climate change. However, the energy transition is essential for protecting nature.
SUMMARY
- The Coronavirus crisis has increased awareness of the importance of protecting biodiversity
- People now realise that nature is an essential contributor to sustainability
- Authorities and the banking sector are stepping up their efforts
- The energy transition is participating in the protection of biodiversity
In 2020, no one would have imagined that our lives would be disrupted on a permanent basis. However, we had been warned. Ebola, SARS, and bird flu had already been transmitted via animals, referred to as “zoonoses”. Many scientists had repeatedly warned of the risk of a pandemic.
The main cause is the destruction of natural barriers that limit these zoonoses. Humanity is indeed putting much pressure on nature, through changes in land use, overexploitation, climate change, pollution, and the movement of invasive species. Altogether, there are no less than one million species at risk.
"Invasive species and pesticides are a threat to bees that pollinate half our food supply."
Wilfried Remans Head Sustainability Network BNP Paribas
Natural resources and services
Nature is still essential to us. It provides us with all the resources we need in order to live, and for our economy to function. According to a World Economic Forum report, half of global GDP depends on natural resources and services.
This includes many activities that depend on raw materials, but also on the water cycle. Droughts occurring in Europe over the last three years have had an impact on agriculture, and on transport in particular. The level of the Rhine, one of the busiest waterways in the world, has become too low. Invasive species and pesticides are a threat to bees that pollinate half our food supply.
"One of the few benefits of the Coronavirus crisis was the real wake-up call."
Wilfried Remans Head Sustainability Network BNP Paribas
400 million jobs to be created
Consequently, there is an urgent need to invest in a less harmful and more circular economy, which could generate an estimated 400 million jobs.
One of the few benefits of the Coronavirus crisis was the real wake-up call. In 2021, the COP 15 biodiversity summit was held in China, and the World Conservation Congress in Marseille.
The European Union has started to develop a taxonomy for activities that promote biodiversity. It has also launched a new strategy to better protect nature. A working group, which includes BNP Paribas, is studying the risks associated with environmental degradation and the environmental reporting of companies.
"The energy transition and the protection of biodiversity go hand in hand - they are the two sides of sustainable development."
Wilfried Remans Head Sustainability Network BNP Paribas
"The energy transition and the protection of biodiversity go hand in hand - they are the two sides of sustainable development."
Wilfried Remans Head Sustainability Network BNP Paribas
Energy transition and biodiversity
All too often, the protection of biodiversity and the energy transition have been in opposition. It is obvious that the construction of wind farms or the use of wood pellets may be climate friendly while having a negative impact on biodiversity.
Fundamentally, the energy transition and the protection of biodiversity go hand in hand - they are the two sides of sustainable development. Climate change has a negative impact on nature, but nature also provides solutions, such as providing the resources necessary for renewable energies, as well as making it possible to store large quantities of carbon. Moreover, the impact of each renewable energy project on biodiversity is now carefully assessed and limited.
The opinions given on this website are those of the authors and do not necessarily represent the position of BNP Paribas Wealth Management.
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