That is why Triodos Bank has signed two open letters together with dozens of other businesses, one initiated by Business for Nature and the other by WWF, calling on European policy leaders to adopt the proposed regulation on nature restoration. The European Parliament will vote on the draft legislation – the EU nature Restoration Law - this Thursday.
Much needed tool
Jeroen Rijpkema, CEO of Triodos Bank: “The current pace of biodiversity loss represents an existential threat. It is everybody’s duty to urgently preserve and restore nature and biodiversity. There is no time to lose anymore. The nature restoration law is a much-needed tool that will help tackle the climate and biodiversity crises. We call on policy makers to adopt the proposal.”
Level playing field
According to the WWF statement, the EU Nature Restoration law is a generation’s opportunity to take concrete and effective action to reverse the biodiversity and climate crises by restoring EU land and sea areas at large scale, according to the WWF statement.
The EU would create a level playing field for all businesses in Europe, by providing regulatory certainty and enabling conditions to foster innovation, transform business practices and business models and ensure forward-thinking companies are rewarded for their actions to halt and reverse nature loss, according for the open letter by Business for Nature.
Financing nature restoration is a key priority for Triodos Bank to achieve its target to become net-zero by 2035 at the latest, because investing in nature projects will remove greenhouse gasses from the air.
In the UK, Triodos Bank recently provided a loan to Oxygen Conservation to acquire 23,000 acres of land in Scotland, marking what is believed to be the largest conservation-focused commercial debt package in the UK to date. Triodos Bank also financed Trees for Life, which is dedicated to rewilding the Highlands and restoring the native Caledonian Forest that once covered much of Scotland.