Nature is in a perilous state, both in Ireland and across the world, with most critical indicators trending in the wrong direction.
The loss of nature is dangerous for human wellbeing and, as noted recently by the European Central Bank, “[is] also existential for the economy and the financial system, as our economy cannot survive without nature.”
This report, authored by KPMG Sustainable Futures and commissioned by the International Sustainable Finance Centre of Excellence (ISFCOE) through support from Skillnet Ireland, is understood to be the first independent assessment of nature-related risks and opportunities for Ireland’s financial sector. It is hoped that this study will raise awareness of how the sector both impacts and depends on nature, and spurs further detailed research into how these links to nature can generate both risks and opportunities for Ireland’s economy and society.
The study is comprised of four main elements:
- Assessment of nature-related risks and opportunities for national lending portfolios
- Assessment of nature-related risks and opportunities for insurance written in Ireland
- Exploration of forward-looking nature scenarios and what they could mean for Ireland’s financial sector.
- A proposed Nature Finance Roadmap for Ireland and recommendations to guide future work on this topic.
