Nature is defined as the natural world, with an emphasis on the diversity of living organisms and their interactions amoung themselves and with their environmental, [the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES)]. The TNFD illustrates this relationship in below, where ecosystem service underpinning the economy are provided by the interaction between and impacts from social, economic and environmental systems.
At Nedbank, we acknowledge that human beings are part of nature and not separate to it. Human society and industry are embedded within, dependent on and impact nature. We understand nature as the physical world and all the features, forces, and processes that exist independently of human activity, such as the weather, landscapes, and ecosystems.
Climate change and nature loss are inextricably linked. Healthy ecosystems – and the biodiversity they have – are natural carbon sinks, and they are crucial for capturing and sequestering greenhouse gas emissions. Healthy and resilient natural systems have tremendous capacity for adapting to the effects of climate change. However, this capacity diminishes as the resilience of natural systems erodes. The greater the decline in nature, the greater the intensity of climate change effects, which further drives nature loss. This feedback loop presents enormous risks to businesses and societal well-being – risks that threaten to compound and cascade. Efforts to address these risks must be integrative and mutually reinforcing. We must restore nature and decarbonise our economies at the same time and find opportunities to use and grow complementary efforts in a just and fair manner.
As Nedbank, we affect nature through our lending, investments, loans, and insurance underwriting. We recognise that land use change is driving nature loss and are cognisant of the varying degrees of impact that different sectors have on nature and accordingly apply a differentiated approach across sectors. Diverse ways of producing, consuming, and financing these activities will be considered to ensure that we can meet our current needs and support the well-being of future generations without destroying our natural resource base. Nedbank has a responsibility to limit and reverse negative impact on nature and, so, to advance the resilience of the societies and economies we run in.
Nedbank's Nature Position Statement
We have published our 1st Nature Position Statement. It builds on our Climate Position Statement, acknowledging that nature and climate are inextricably linked. It explains how Nedbank understands nature, its current state, and what must be done to restore it. It commits the bank to a path that is aligned with global best practice, forming the basis for our related strategies and the foundation on which policy and related nature commitments and targets can be set. The statement and its related commitments have been approved and will be monitored by Nedbank’s Executive Management Committee and the Nedbank Board. Our Nature Position Statement commits us to:
The statement can be accessed by going to nedbankgroup.co.za.
Nedbank's Climate Change Position Statement