Danish pension company Velliv has joined the Finance for Biodiversity Pledge, an initiative that aims to ensure financial firms commit to protect and restore the world’s biodiversity.

The initiative is an association of 111 European financial companies across 20 countries, which together manage assets of approximately €16.3trn.

As part of the Finance for Biodiversity Pledge, Velliv has committed to protecting and restoring global biodiversity through several commitments.

These include cooperation and knowledge sharing, dialogue with and influence of companies in its portfolio, and ongoing follow-up of the company’s results in the area.

Furthermore, Velliv has committed to setting clear objectives on biodiversity, and reporting on its targets and results by 2024.

"If we are to solve the climate crisis and put a stop to the loss of biodiversity, we will have to work closely together and find joint solutions,” commented Velliv head of sustainable investments, Sandra Metoyer.

“This is precisely why we are now joining 110 European financial investors under the umbrella of the Finance for Biodiversity Pledge.

"With joining the Finance for Biodiversity Pledge, we have gained a clear guiding star for our work with biodiversity.

“Now it's about specifying our objectives and engaging in dialogue with our partners. I hope that our colleagues in the Danish pension industry will support and join the initiative. Together we are much stronger.”

Velliv has stated that it will announce targets in the area of biodiversity in 2023 and, by 2024, will report on efforts and results in this area.

Other signatories include Dutch pension company, APG, Sweden’s AP2 fund and Norwegian pension company, KLP.

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