The current pace of biodiversity loss represents an existential threat. Triodos Bank believes we all have the responsibility to urgently preserve and restore nature and biodiversity. The Nature Restoration Law is a much-needed tool to achieve this.
We are relieved that the European Parliament has taken a position in favour of the Nature Restoration law. This means the Parliament can now start inter-institutional negotiations with the EU countries. However, the lower ambition level of the law is worrying. Triodos Bank supported the agreement reached by the Council, but we do not agree with the weakening of the non-deterioration provision and peatland & forest restoration targets. In the position of the Parliament, numerous targets have been further weakened and pushed further into the future. For instance, the article on the restoration of agricultural ecosystems that included peatland restoration has been deleted. We are now calling on all EU institutions to make constructive use of the trilogue negotiations to ensure a final law that is fit for addressing the global climate and biodiversity emergency.
Role of Triodos Bank
Triodos Bank, as part of multiple coalitions that include the Finance for Biodiversity Foundation,Business for Nature, and the Our Nature Our Business, has been actively involved in advocating for the adoption of the Nature Restoration Law. Triodos Bank has voiced its support of the law by signing petitions by Business for Nature and WWF. Over 6000 scientists have also called for a strong nature restoration law.
Triodos Bank aims to be a frontrunner in nature restoration through financing pioneering nature restoration projects like recently in Scotland and supporting promising change-makers like the Weather Makers.