Overview of the quarter

OF THE ESG RISKS INVESTORS FACE, WE BELIEVE CLIMATE CHANGE PRESENTS THE GREATEST CHALLENGE TO MEETING OUR INVESTMENT OBJECTIVES.
But loss of biodiversity arguably poses as great a threat to the long-term health of humans – and to the creatures we are fortunate to share this planet with.
This quarter, we look at two animals at opposite extremes of the food chain and climatic conditions. Both are keystone species – that is, disproportionately important to the health of their entire ecosystem.
Our thought leadership piece delves into the world of the Antarctic krill, a vital food source for a broad range of other species, from seabirds and penguins to seals and whales. Their excretions also help to trap carbon on the ocean floor. Whilst krill are abundant, there is growing concern about overharvesting, partly driven by consumers’ demand for healthy omega-3 fatty acids. As the rules-bound world order fragments, can the political will be maintained to limit the permitted catch – and then to police it in the distant Southern Ocean?
From the frozen Antarctic to the tropical grasslands of the Democratic Republic of the Congo. As part of a wider-ranging engagement with Barrick Mining, we caught up on their project to reintroduce the white rhinoceros to Garamba National Park after an absence of nearly 20 years. These massive animals – the largest and most social of extant rhinoceroses – play a vital role in keeping grass short, allowing other animals to graze. They also help create deep waterholes and enrich the soil through their large deposits of dung.
Our other engagement in focus was with Jet2, predominantly on its plans to secure supplies of sustainable aviation fuel but also on how its certified sustainable hotels programme aims to support local nature and biodiversity.