A newly inaugurated project, financed by the European Union, is set to expedite the integration of biodiversity strategies within corporate and governmental sectors across Europe. Named A-Track, the project boasts an €11-million budget and is part of the Horizon Europe programme, with additional funding from UK Research and Innovation and the Swiss National Science Foundation.
View of biodiversity in a meadow during spring. AI generated picture.
Spanning four years, A-Track's mission is to enhance nature-positive outcomes by linking established tools and methodologies with fresh innovations. This effort aims to align biodiversity with corporate decision-making and financial as well as national policies.
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The initiative unites a network of prominent partners including the World Business Council for Sustainable Development, the Cambridge Institute for Sustainability Leadership, and Capital Coalition. It will focus on creating a knowledge base for measuring and valuing biodiversity, which is crucial for fostering nature-positive innovations in the financial sector.
The project aligns with key targets under the Kunming-Montreal Global Biodiversity Framework, responding to increasing investor interest in nature-related financial risks. This push coincides with a growing trend among companies to adopt frameworks like the Taskforce on Nature-related Financial Disclosure and the European Sustainability Reporting Standards, aiming to better gauge their environmental impact.
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Despite these advancements, a recent UN Environment Programme assessment reveals that many EU countries are still behind in mandating national institutions to monitor corporate biodiversity disclosures. Addressing these challenges, the EU Commission's biodiversity director emphasised the importance of precise impact measurements to achieve the 2030 biodiversity goals outlined in the European Green Deal.
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