NextEnergy Solar Fund has published its first Nature Strategy Report, a strategic plan for habitat targets.
The report consolidates and builds upon the lessons learned from 10 years of active engagement with the environment surrounding its solar farm assets since NextEnergy’s IPO.
It lays out a structured framework for the solar farm investor to strengthen its relationship with nature.
It is designed to avoid and manage habitat-related risks while opening opportunities to create and capture value from the evolving environmental markets.
The report is aligned with emerging global standards and includes clear commitments which guide NESF’s nature-related decision-making and the integration of nature-positive practices in its operations.
These global standards include the Taskforce on Nature-related Financial Disclosures (TNFD), the Science-Based Targets Network (SBTN), the Capitals Coalition-Endorsed ACT-D Framework and the Global Biodiversity Framework (GBF).
The core components of the Approach to Nature include commitments to strong nature-related governance, evidence-led action plans, use of science-based targets, and ongoing transparent disclosures.
Key targets set out in the report include No Conversion Of Natural Ecosystems, an SBTN-aligned commitment to prevent the material loss of natural ecosystems in direct operations and supply chains, Responsible Land Use Target, to ensure the fund remains a responsible land steward across its assets, implementing nature management plans and prioritising dual land-use regimes, 30×30 Nature Restoration Target – to restore natural ecosystems in the regions where the fund operates and which need support and Supply Chain Transparency and Sustainability – updated and comprehensive nature-related risk management procedures.
Chairwoman of the board’s ESG committee, NextEnergy Solar Fund, Josephine Bush said: “NESF’s Approach to Nature is designed to manage nature-related risks across the Company’s operations and supply chains, enhancing resilience in the face of economic and environmental uncertainty.
“By addressing the challenges posed by nature loss, we are de-risking future investments, safeguarding our assets, and positioning NESF for sustainable growth in an evolving regulatory landscape.”
NextEnergy Solar Fund vice president and global nature lead Hing Kin Lee added: “Building on the momentum of COP16 in Colombia, NESF’s Nature Strategy is the culmination of our significant effort to interrogate and rethink how the Company interfaces with nature.
“It reinforces the positioning of NESF as a leader to combat climate change, protect biodiversity, and help curb nature loss, while strategically positioning for emerging opportunities aligned with nature-positive investments.
“As carbon, biodiversity, and other ecosystem service markets mature, NESF’s Approach to Nature could create opportunities to unlock additional revenue streams and enhance environmental outcomes.”