{"id":119159,"date":"2025-06-18T02:57:46","date_gmt":"2025-06-18T06:57:46","guid":{"rendered":"https:\/\/www.bloomberg.com\/professional\/insights\/sustainable-finance\/investing-in-nature-identifying-leaders-and-laggards\/"},"modified":"2025-07-09T15:34:58","modified_gmt":"2025-07-09T19:34:58","slug":"investing-in-nature-identifying-leaders-and-laggards","status":"publish","type":[3762],"link":"https:\/\/www.bloomberg.com\/professional\/insights\/sustainable-finance\/investing-in-nature-identifying-leaders-and-laggards\/","title":{"rendered":"Investing in nature: Identifying leaders and laggards"},"content":{"rendered":"<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-compact row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-6a0c4db74a81b'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-7\"\n    style=\"\"\n    >\n    <p><div\n    class=\"bbg-spacer bbg-spacer--lg\"\n    >\n<\/div><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p class=\"small\"><strong><span style=\"font-size: 14px; letter-spacing: 1px; color: #0062dd;\">ARTICLE<\/span><\/strong><\/p>\n\n<\/div>\n<div\n    class=\"bbg-spacer bbg-spacer--sm\"\n    >\n<\/div>    <h1 class=\"bbg-metadata bbg-metadata--title\">Investing in nature: Identifying leaders and laggards<\/h1>\n<div\n    class=\"bbg-spacer\"\n        style=\"height: 50px !important\"\n    >\n<\/div>    <ul class=\"bbg-categories_list\">\n                    <li>\n                <a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/category\/data\/\" rel=\"category tag\">\n                    Data\n                <\/a>\n            <\/li>\n                    <li>\n                <a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/category\/sustainable-finance\/\" rel=\"category tag\">\n                    Sustainable Finance\n                <\/a>\n            <\/li>\n            <\/ul>\n<\/p>\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-5\"\n    style=\"\"\n    >\n    <div id=\"\" class=\"wpb_content_element bbg-single-image align-left\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"799\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/10\/forest-aerial-shot.jpg\" class=\"bbg-single-image__image attachment-full\" alt=\"Aerial View Of A Forest\" title=\"Aerial View Of A Forest\" \/>\n        \n            <\/figure>\n<\/div>\n\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-6a0c4db75503e'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-6 bbg-column--m-width-6\"\n    style=\"\"\n    >\n    <p>    <p class=\"bbg-metadata bbg-metadata--date\">June 18, 2025<\/p>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><strong>Bloomberg Professional Services<\/strong><\/p>\n\n<\/div>\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2 bbg-column--valign-middle bbg-column--m-width-2 bbg-column--s-padding-right-2\"\n    style=\"\"\n    >\n    <div class=\"bb-tts\"\n\tdata-selector=\"main\"\n\tdata-label=\"Speak this page\"\n\tdata-custom-play=\"Play\"\n\tdata-custom-pause=\"Pause\"\n\tdata-custom-stop=\"Stop\"\n\tdata-overlay=\"false\"\n\tdata-invert=\"false\"\n\tdata-no-time=\"false\"\n\tdata-no-button-text=\"false\"\n\tdata-one-button=\"true\"\n\tdata-one-style=\"true\"\n\tdata-hide-stop=\"true\"\n\tdata-voice=\"Gordon\"\n\tdata-pitch=\"1\"\n\tdata-speed=\"1\"\n\tdata-align=\"flex-start\"\n>\n<\/div>\n\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-compact row-padding--bottom-compact bbg-row--full-bg-bleed\" data-anchor='row-6a0c4db75789d'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><em>This article was written by Giorgis Hadzilacos, Nature &amp; Climate Modelling Lead, Stewardship &amp; Sustainability at M&amp;G Investments and Christian O&#8217;Dwyer, Head of Nature Solutions at Bloomberg.<\/em><\/p>\n<p><span class=\"TextRun SCXW32814879 BCX0\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW32814879 BCX0\">Globally, asset managers <\/span><span class=\"NormalTextRun SCXW32814879 BCX0\">representing<\/span> <\/span><a class=\"Hyperlink SCXW32814879 BCX0\" href=\"https:\/\/www.financeforbiodiversity.org\/finance-for-biodiversity-pledge-hits-200-signatories\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span class=\"FieldRange SCXW32814879 BCX0\"><span class=\"TextRun SCXW32814879 BCX0\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-contrast=\"auto\"><span class=\"NormalTextRun CommentStart SCXW32814879 BCX0\">\u20ac23<\/span> <\/span><span class=\"TextRun Underlined SCXW32814879 BCX0\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW32814879 BCX0\">trillion<\/span><\/span><span class=\"TextRun Underlined SCXW32814879 BCX0\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW32814879 BCX0\" data-ccp-charstyle=\"Hyperlink\"> AUM<\/span><\/span><\/span><\/a><span class=\"TextRun SCXW32814879 BCX0\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW32814879 BCX0\"> are committed to assessing, <\/span><span class=\"NormalTextRun SCXW32814879 BCX0\">engaging<\/span><span class=\"NormalTextRun SCXW32814879 BCX0\"> and reporting biodiversity-related <\/span><span class=\"NormalTextRun SCXW32814879 BCX0\">risks.<\/span><\/span><span class=\"TextRun SCXW32814879 BCX0\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-contrast=\"auto\">\u00a0<span class=\"NormalTextRun SCXW32814879 BCX0\">Although there are similarities, <\/span><span class=\"NormalTextRun SCXW32814879 BCX0\">nature is inherently different from climate. It is multifaceted, non-fungible, and hyperlocal. Unlike climate data, <\/span><span class=\"NormalTextRun SCXW32814879 BCX0\">nature<\/span><span class=\"NormalTextRun SCXW32814879 BCX0\"> metrics are non-fungible; <\/span><span class=\"NormalTextRun SCXW32814879 BCX0\">there is no single \u201cnature equivalent\u201d to a carbon footprint. A data centre in Texas may face water stress, while a packaged food manufacturer in Southeast Asia could be exposed to deforestation risks.\u00a0<\/span><\/span><\/p>\n\n<\/div>\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-6a0c4db758e4a'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-3\"\n    style=\"\"\n    >\n    <p><div\n    class=\"bbg-spacer bbg-spacer--sm\"\n    >\n<\/div><hr class=\"bbg-separator bbg-separator-1\" style=\"height:1px;\" \/>\n<div\n    class=\"bbg-spacer\"\n        style=\"height: 32px !important\"\n    >\n<\/div><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p class=\"small\"><strong><span style=\"font-size: 14px; letter-spacing: 1px;\">PRODUCT MENTIONS<\/span><\/strong><\/p>\n\n<\/div>\n\n<div\n  id=\"cta_5358069861148615191\"\n  class=\"wpb_content_element bbg-cta no-icon\">\n  <style>\n    \n    \n    \n  <\/style>\n  <div\n    class=\"bbg-cta-link link-holder\"\n    data-links-type=\"cta-links\">\n    <p class=\"bbg-cta-p left\">\n      <a\n        class=\"bbg-cta-link link\"\n        href=\"https:\/\/www.bloomberg.com\/professional\/solutions\/sustainable-finance\/natural-climate-solutions\"\n        target=\"\"\n        rel=\"\"\n        data-section-name=\"Bloomberg Climate and Nature Solutions\"\n        >\n                      Bloomberg Climate and Nature Solutions\n                <\/a>\n    <\/p>\n  <\/div>\n<\/div>\n<div\n    class=\"bbg-spacer bbg-spacer--sm\"\n    >\n<\/div><div\n    class=\"bbg-spacer\"\n        style=\"height: 32px !important\"\n    >\n<\/div><hr class=\"bbg-separator bbg-separator-1\" style=\"height:1px;\" \/>\n<\/p>\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-1\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-6\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><span class=\"EOP SCXW32814879 BCX0\" data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\"><span class=\"NormalTextRun SCXW15279656 BCX0\">Nature is no longer an overlooked <\/span><span class=\"NormalTextRun ContextualSpellingAndGrammarErrorV2Themed SCXW15279656 BCX0\">issue,<\/span> <span class=\"NormalTextRun SCXW15279656 BCX0\">it\u2019s<\/span><span class=\"NormalTextRun SCXW15279656 BCX0\"> an emerging pillar <\/span><span class=\"NormalTextRun CommentStart SCXW15279656 BCX0\">of<\/span><span class=\"NormalTextRun SCXW15279656 BCX0\"> fiduciary duty with real-world financial <\/span><span class=\"FindHit ContextualSpellingAndGrammarErrorV2Themed SCXW15279656 BCX0\">mat<\/span><span class=\"FindHit ContextualSpellingAndGrammarErrorV2Themed SCXW15279656 BCX0\">er<\/span><span class=\"FindHit ContextualSpellingAndGrammarErrorV2Themed SCXW15279656 BCX0\">i<\/span><span class=\"FindHit ContextualSpellingAndGrammarErrorV2Themed SCXW15279656 BCX0\">a<\/span><span class=\"FindHit ContextualSpellingAndGrammarErrorV2Themed SCXW15279656 BCX0\">l<\/span><span class=\"FindHit ContextualSpellingAndGrammarErrorV2Themed SCXW15279656 BCX0\">i<\/span><span class=\"NormalTextRun ContextualSpellingAndGrammarErrorV2Themed SCXW15279656 BCX0\">ty.<\/span><\/span><\/p>\n<p><span data-contrast=\"auto\">Nature metrics need to relate to companies\u2019 operations and \u2013 ultimately \u2013 their valuation. Lacking straightforward methods to link company valuations with nature-related metrics, the investment world has typically responded with two approaches:\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n\n<\/div>\n\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-compact row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-6a0c4db75c24c'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<ol>\n<li data-leveltext=\"%1.\" data-font=\"Calibri,Times New Roman\" data-listid=\"9\" data-list-defn-props=\"{&quot;335552541&quot;:0,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:&#091;65533,0&#093;,&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;%1.&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Wait for climate accounting-style standards and frameworks like the Taskforce for Nature-related Financial Disclosures (TNFD) to mature at the cost of continuing to \u201cfly blind\u201d while we wait.<\/span><\/li>\n<li data-leveltext=\"%1.\" data-font=\"Calibri,Times New Roman\" data-listid=\"9\" data-list-defn-props=\"{&quot;335552541&quot;:0,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:&#091;65533,0&#093;,&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;%1.&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Simplify the complexity by developing scores or footprinting metrics which are relevant to investment process but lack some comparability and consistency in the short term.<\/span><\/li>\n<\/ol>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><span data-contrast=\"auto\">We would like to propose a third route moving forwards, which doesn\u2019t attempt to solve everything at once, but focuses on analysing high-impact themes using company specific data, such as water and deforestation. This enables investors to focus on relevant dependencies and risks that vary meaningfully across companies.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Why these two priority themes?<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"10\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:&#091;8226&#093;,&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Water<\/span><\/b><span data-contrast=\"auto\"> is a local constraint with global financial materiality. It affects sectors from agriculture to semiconductors and is tied directly to operational resilience. Tightening water-use regulations and community scrutiny expose firms to compliance costs and brand damage, while droughts and water pollution increasingly threaten agricultural and industrial supply chains and production continuity.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"10\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:&#091;8226&#093;,&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Deforestation<\/span><\/b><span data-contrast=\"auto\"> \u2014driven largely by seven agricultural commodities known as <\/span><b><span data-contrast=\"auto\">Forest Risk Commodities<\/span><\/b><span data-contrast=\"auto\"> (FRCs), \u2014 carries regulatory and reputational risk, and is increasingly linked to supply chain exposure. For instance, the EU\u2019s new Deforestation Regulation (EUDR) requires goods sold in the EU to be deforestation-free. Non-compliance introduces real risk: penalties, loss of market access, and reputational harm.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"auto\">Nature data is available at the company level, even if imperfect. With thoughtful proxies and disclosure analysis, it&#8217;s possible to separate signal from noise.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n\n<\/div>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-row--margin-top-compact bbg-row--margin-bottom-compact bbg-row--full-bg-bleed\" data-anchor='row-6a0c4db75dc95'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <div\n    class=\"bbg-column\"\n    style=\"\"\n    >\n    <div class=\"bbg-interstitial\" aria-label=\"interstitial\" tabindex=\"0\">\n\t<style>\n\t\t.bbg-interstitial #card_1.bbg-card_hasCta{\n\t\t\tbackground: url(https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Interstitial_bg.png);\n\t\t\t\tbackground-repeat: no-repeat;\n\t\t\t\tbackground-position: center center;\n\t\t\t\tbackground-size: cover;\n\t\t\tpadding: 104px;\n\t\t\t\n\t\t\t\n\t\t}\n\t\t.bbg-interstitial #card_1.bbg-card_hasCta .bbg-card__content, .bbg-interstitial #card_1.bbg-card_hasCta .bbg-card__content p{\n\t\t\tcolor:white;\n\t\t}\n\t\t@media (max-width: 768px) {\n\t\t\t.bbg-interstitial #card_1.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 32px;\n\t\t\t}\n\t\t}\n\t\t@media (max-width: 480px) {\n\t\t\t.bbg-interstitial #card_1.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 18px;\n\t\t\t}\n\t\t}\n\t<\/style>\n\t<div class=\"wpb_content_element bbg-card  bbg-card-dark bbg-card_hasCta has_interstitial\" id=\"card_1\" data-card_type=\"no_image\">\n  \n  \n  <div class=\"bbg-card__innerwrapper\">\n    <div class=\"bbg-card__content\">\n      \n      \n                      <h3 class=\"bbg-card__title\">Discover more with Bloomberg newsletters<\/h3>\n      \n              <div class=\"bbg-card__wysiwyg bb-wysiwyg\"><p>Subscribe now<\/p>\n<\/div>\n          <\/div>\n\n          \n<div\n  id=\"cta_3707797814639721062\"\n  class=\"wpb_content_element bbg-cta icon icon-arrow\">\n  <style>\n    \n    \n    \n  <\/style>\n  <div\n    class=\"bbg-cta-link link-holder\"\n    data-links-type=\"cta-links\">\n    <p class=\"bbg-cta-p right\">\n      <a\n        class=\"bbg-cta-link link interstitial_cta\"\n        href=\"https:\/\/www.bloomberg.com\/professional\/insights\/newsletter\/\"\n        target=\"\"\n        rel=\"\"\n        data-section-name=\"\"\n                role=\"button\"\n        aria-label=\"Learn more\"\n        >\n                <\/a>\n    <\/p>\n  <\/div>\n<\/div>\n\n      <\/div>\n\n  <\/div>\n\n<\/div>\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-compact row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-6a0c4db761521'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2><span class=\"TextRun SCXW47747928 BCX0\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW47747928 BCX0\">Example<\/span><span class=\"NormalTextRun CommentStart CommentHighlightPipeRest CommentHighlightRest SCXW47747928 BCX0\">:<\/span><span class=\"NormalTextRun CommentHighlightPipeRest SCXW47747928 BCX0\"> Detecting deforestation and water risk in a sector<\/span><\/span><span class=\"EOP SCXW47747928 BCX0\" data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/h2>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><span data-contrast=\"auto\">To illustrate the value of company-specific nature data, Bloomberg and M&amp;G worked together to apply a practical screening to the 30 largest firms in the Bloomberg World Packaged Food Index, with focus on deforestation and water. The analysis was based on M&amp;G quant modelling and investment expertise, combined with Bloomberg nature-related data and analytics.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">On deforestation we assessed two dimensions:<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"7\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:&#091;8226&#093;,&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Exposure to deforestation risk: <\/span><\/b><span data-contrast=\"auto\">based on revenue ties to FRCs, commodity production and sourcing, supply chain exposure and operating in areas of high biodiversity intactness.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"7\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:&#091;8226&#093;,&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Mitigation efforts: <\/span><\/b><span data-contrast=\"auto\">using publicly disclosed policies, governance, and FRC-specific certifications (eg RSPO for palm oil) and measures of traceability.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<\/ul>\n\n<\/div>\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1087\" height=\"983\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Chart-1-orrected.jpg\" class=\"bbg-single-image__image attachment-full\" alt=\"Deforestation Outlier Identification for Packaged Food Index\" title=\"Deforestation Outlier Identification for Packaged Food Index\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Chart-1-orrected.jpg 1087w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Chart-1-orrected.jpg 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Chart-1-orrected.jpg 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Chart-1-orrected.jpg 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Chart-1-orrected.jpg 119w\" sizes=\"auto, (max-width: 1087px) 100vw, 1087px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><span data-contrast=\"auto\">The chart above identifies the highest exposure and weaker mitigation on the top right, while the bubble size denotes capitalisation. The two anonymised examples in the chart illustrate the range of outcomes:<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"8\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:&#091;8226&#093;,&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Company A: <\/span><\/b><span data-contrast=\"auto\">An Asian meat processor with exposure to two FRCs but minimal disclosed mitigation. A large player in a high-risk, low-action quadrant \u2013 raising red flags for engagement or risk pricing.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"8\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:&#091;8226&#093;,&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Company B<\/span><\/b><span data-contrast=\"auto\">: A European packaged food company with high exposure across six FRCs\u2014but strong mitigation including clear governance, traceability, and<\/span> <span data-contrast=\"auto\">policy commitments. Despite exposure, mitigation reduces its risk profile.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"auto\">On water we assessed two dimensions:<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:&#091;8226&#093;,&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Water inefficiency: <\/span><\/b><span data-contrast=\"auto\">using publicly disclosed information, we assessed water consumption efficiency, expressed as the inverse ratio of water consumption over withdrawal<\/span><span data-contrast=\"auto\">. For instance, if a company is using 20% of the water it withdraws, their water inefficiency is 80%.\u00a0<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:&#091;8226&#093;,&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><strong>Water stress:<\/strong> The percentage of a companies&#8217; physical assets that are located in areas of high or extremely high water stress, measured by combining Bloomberg physical asset locations with the World Resources Institute&#8217;s water stress data.<\/li>\n<\/ul>\n<p><span data-contrast=\"auto\">The second chart below identifies companies operating at high water stress and least efficient in utilising the freshwater they extract on the top right.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n\n<\/div>\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1005\" height=\"738\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Chart-2-corrected.jpg\" class=\"bbg-single-image__image attachment-full\" alt=\"Water Outlier Identification for Packaged Food Index\" title=\"Water Outlier Identification for Packaged Food Index\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Chart-2-corrected.jpg 1005w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Chart-2-corrected.jpg 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Chart-2-corrected.jpg 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Chart-2-corrected.jpg 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Chart-2-corrected.jpg 147w\" sizes=\"auto, (max-width: 1005px) 100vw, 1005px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><span data-contrast=\"auto\">The two anonymised examples illustrate the range of outcomes:<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"8\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:&#091;8226&#093;,&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"3\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Company A: <\/span><\/b><span data-contrast=\"auto\">An Asian-based multinational food processing and retailing company whose operations include water-intensive dairy processing. Its plants operate in catchments where limited water resources compete with agricultural activities.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"8\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:&#091;8226&#093;,&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"4\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Company B<\/span><\/b><span data-contrast=\"auto\">: A south-east Asian multinational food and beverage conglomerate with diverse operations including consumer food products. Its operations include plants in the tropics were water supply stress is less material. \u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<\/ul>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2><span class=\"TextRun SCXW187911021 BCX0\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW187911021 BCX0\">From complexity to actionability\u00a0<\/span><\/span><span class=\"EOP SCXW187911021 BCX0\" data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/h2>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><span data-contrast=\"auto\">While outlier identification adds value to the investment process, it comes with limitations. Nature-related data remains unevenly reported. Companies that disclose such metrics tend to be those actively measuring and managing their nature-related impacts, which can bias results. As a result, negative outliers may reflect poor performance \u2013 or simply a lack of disclosure. Though estimates help bridge data gaps, they are no substitute for a true understanding of company-level nature dependencies and impacts. By factoring in disclosure quality, the model implicitly penalises non-reporting and supports stewardship efforts to encourage greater transparency.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">While a degree of caution is therefore recommended, imperfect datasets shouldn\u2019t be a barrier to using what\u2019s currently available, so action does not have to wait. By focusing on company-specific data aligned with financially material themes, investors can begin identifying potential nature-related leaders and laggards and leverage these insights to inform engagement priorities<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">With the right framing, investors can simplify complexity, build relevance into analysis, and take the first steps towards real integration of nature risk.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Our recommendations for investors would be to:<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:&#091;8226&#093;,&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Choose a starting point: Pick a theme that\u2019s material to your portfolio and assess in depth\u2014don\u2019t try to solve everything.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:&#091;8226&#093;,&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Work with what&#8217;s available: In the absence of perfect data, useful insights can still be found.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:&#091;8226&#093;,&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">Push for better disclosure: Engagement works best when rooted in tangible, company-specific insights.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<\/ul>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><span class=\"TextRun SCXW153909596 BCX0\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW153909596 BCX0\">To find out more about how to perform this type of analysis with Bloomberg data, <\/span><span class=\"NormalTextRun SCXW153909596 BCX0\">reach <\/span><span class=\"NormalTextRun ContextualSpellingAndGrammarErrorV2Themed SCXW153909596 BCX0\">out<\/span><span class=\"LastReplacedFindHitThemed ContextualSpellingAndGrammarErrorV2Themed SCXW153909596 BCX0\"> \u00a0<\/span><span class=\"NormalTextRun ContextualSpellingAndGrammarErrorV2Themed SCXW153909596 BCX0\">to<\/span><span class=\"NormalTextRun SCXW153909596 BCX0\"> our Market Specialist<\/span> <\/span><a class=\"Hyperlink SCXW153909596 BCX0\" href=\"https:\/\/www.bloomberg.com\/professional\/request-demo\" target=\"_blank\" rel=\"noreferrer noopener\"><span class=\"FieldRange SCXW153909596 BCX0\"><span class=\"TextRun SCXW153909596 BCX0\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-contrast=\"none\"><span class=\"NormalTextRun CommentStart CommentHighlightPipeRest CommentHighlightRest SCXW153909596 BCX0\">her<\/span><\/span><span class=\"TextRun Underlined SCXW153909596 BCX0\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-contrast=\"none\"><span class=\"NormalTextRun CommentHighlightRest SCXW153909596 BCX0\" data-ccp-charstyle=\"Hyperlink\">e<\/span><\/span><\/span><\/a><span class=\"TextRun SCXW153909596 BCX0\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-contrast=\"none\"><span class=\"NormalTextRun CommentHighlightRest SCXW153909596 BCX0\">.<\/span><span class=\"NormalTextRun CommentHighlightPipeRest SCXW153909596 BCX0\"> Further information on Bloomberg\u2019s sustaina<\/span><span class=\"NormalTextRun SCXW153909596 BCX0\">ble finance solutions, and on its nature and biodiversity data, which covers up to 45,000 companies, is available <\/span><\/span><a class=\"Hyperlink SCXW153909596 BCX0\" href=\"https:\/\/www.bloomberg.com\/professional\/solutions\/sustainable-finance\/natural-climate-solutions\/#overview\" target=\"_blank\" rel=\"noreferrer noopener\"><span class=\"TextRun Underlined SCXW153909596 BCX0\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW153909596 BCX0\">here<\/span><\/span><\/a><span 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This blog shows how data-driven insights can help assess financially materiality of nature-related risks and opportunities. <\/p>\n","protected":false},"author":1935,"featured_media":40303,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"template-article.php","format":"standard","meta":{"_yoast_wpseo_primary_category":"524","footnotes":""},"categories":[435,524],"tags":[3662,3701,3702,3680,3679],"series":[],"class_list":["post-119159","post","type-post","status-publish","format-standard","hentry","category-data","category-sustainable-finance","tag-esg","tag-esg-research","tag-esg-risk","tag-impact-investing","tag-sustainability","type-article"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.11 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Investing in nature: Identifying leaders and laggards | Insights | Bloomberg Professional Services<\/title>\n<meta name=\"description\" content=\"With integration of climate factors increasingly becoming standard practice, investors are turning to nature. 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