Christine Loh

The View | Financiers can be Hong Kong’s superpower in biodiversity ambitions

New-found interest of financial professionals and corporate leaders in conservation is welcome surprise as city updates biodiversity strategy

Reading Time:4 minutes

Why you can trust SCMP

A tortoise made from used plastic bottles is displayed at the Ocean Park Conservation Foundation’s “Discovering the Hidden Treasure of Carapace Wonders” Freshwater Turtle & Horseshoe Crab Conservation Exhibition at Cityplaza, Taikoo, on March 28. Photo: Yik Yeung-man

Christine Loh

Published: 9:30am, 11 Jul 2024

Financiers are finally starting to recognise the significance of biodiversity and ecosystems, acknowledging nature’s profound importance to financial investments and economies. This relatively recent realisation is driven by the global surge in attention to environmental sustainability and climate change. Investors and bankers are learning that biodiversity and ecosystems are essential for both economic activity and people’s well-being.

For too long, we have taken nature for granted, ignoring its fundamental role in our lives. We have focused on the monetary aspect, emphasising the resources needed to acquire material possessions without duly considering their origins.

Biodiversity represents our planet’s natural capital and encompasses the stock of its invaluable resources. Ecosystems are the intricate interconnected systems that sustain life, providing vital services such as soil fertility, pollination, climate regulation, clean air and fresh water.

Numerous industries, including agriculture, fisheries, mining and energy, all depend on natural capital as the foundation of their businesses. Financiers are beginning to grasp the critical role of biodiversity and ecosystem services. Losing them would be catastrophic – people rely on them for survival.

Consequently, financiers, leading businesses, governments and even philanthropists are becoming interested in nature-based solutions to address climate change. Working with nature through protection, conservation and restoration, rather than against it, is evidently a more effective long-term strategy.

This paradigm shift requires a fresh perspective on managing natural capital, such as halting deforestation, restoring degraded areas through reforestation, reviving mangroves and establishing protected areas or seasonal restrictions to allow fish stocks to recover.