[CC Cloumn] Climate and Biodiversity: An Inseparable Dual Crisis > 게시글

 

Jinyoung Park (Associate Researcher, Knowledge Network Team)

 

 

 

1. Biodiversity, the Ultimate Safety Net for Climate Adaptation

The crises of climate and biodiversity are unfolding in tandem. Heatwaves, floods, air pollution, and the spread of infectious diseases already threaten daily life. According to the WWF Living Planet Report 2022, global vertebrate populations have declined by an average of 69% since 1970. The IPBES (2019) warns that one million species could face extinction within the coming decades. Climate and biodiversity are inseparably linked.

 

Biodiversity forms the foundation of climate adaptation. Wetlands and rivers absorb floodwaters and reduce damage, while urban forests mitigate heat island effects, lowering summer city temperatures. Diverse ecosystems purify air and water, curb the spread of pathogens, and contribute to human health. In Seoul, 5,778 species have been recorded, and a recent survey newly designated 55 species as protected wildlife—the first redesignation in 17 years, aimed at countering habitat degradation driven by climate change and unregulated development. These designations and protections are more than environmental policies. They are essential strategies for strengthening urban resilience in the climate crisis era.

 

 

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2. Natural Capital: A New Axis of Financial Risk and Opportunity

The biodiversity crisis extends beyond cities and ecosystems—it directly impacts economies and finance. The World Economic Forum (WEF) estimates that over half of global GDP, about USD 58 trillion, depends on nature. The European Central Bank (ECB) found that 75% of surveyed companies rely on ecosystem services. Biodiversity loss threatens supply chains, raises raw material costs, and erodes asset values, jeopardizing financial stability.

 

Global financial institutions are already acting. Canada’s boreal forest conservation projects, Australia’s Great Barrier Reef restoration, and biodiversity funds are prominent examples. BNP Paribas, AXA, and UBS are experimenting with financial models that pursue both conservation and profit, recognizing biodiversity as a core axis of investment and risk management.

 

In Korea, KB Financial Group has taken the lead in natural capital disclosure. Its 2024 Natural Capital Disclosure Report marked the country’s first TNFD-based disclosure, systematically analyzing the group’s portfolio dependencies and impacts on ecosystem services. Applying the TNFD’s LEAP approach, KB identified key risk factors such as disturbance, water pollution, rainfall regulation, and water purification, and established strategies of Avoid, Reduce, Restore, and Transform.

 

Flagship initiatives such as the “K-Bee Project” (urban beekeeping sites, nectar-rich forests, bee hotels, ecological education programs), the “KB Ocean Forest Project” (seagrass meadow restoration, marine ecosystem recovery), and global afforestation projects (windbreak forests to combat desertification in Mongolia, mangrove restoration in Indonesia) extend far beyond philanthropy. They exemplify nature-based solutions (NbS) that mitigate risks while creating opportunities. KB has also pledged to invest KRW 25 trillion in natural capital-related financing by 2030, embedding biodiversity at the heart of its business strategy.

 

Such domestic and international movements are reinforced by the rapid spread of the TNFD (Taskforce on Nature-related Financial Disclosures). According to the TNFD 2025 Status Report, 620 organizations across 50 countries have publicly committed to begin disclosures aligned with TNFD recommendations. More than 500 first- and second-generation TNFD reports have already been released, indicating that disclosure is shifting from intent to implementation. In the language of finance, biodiversity is no longer a peripheral environmental issue. It is a core asset for both risk management and growth.

 

 

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3. Bridging Adaptation and Finance: Toward a Nature-Positive Future

Climate adaptation and finance may appear worlds apart, but biodiversity always lies at their intersection. Cities rely on biodiversity to withstand heatwaves, floods, and air pollution, while finance depends on biodiversity to reduce risks and open new markets.

 

Yet the two realms remain insufficiently connected. Ecosystem service data gathered through adaptation policies and TNFD-based financial disclosures both deal with natural capital, but they operate separately. The critical challenge ahead is to build data governance that bridges adaptation and finance. If biodiversity information at the local and urban level is integrated into financial risk assessment and investment decisions, wetland restoration or green corridor expansion will no longer be seen as mere public goods. They will become recognized as legitimate financial investment assets.

 

This is the essence of being “Nature Positive”: a global paradigm shift to halt biodiversity loss, minimize harm, and restore ecosystems to ensure a net gain for nature by 2030, putting the planet back on a recovery path. It is no longer optional. The safety of cities, the survival of companies, and the stability of financial markets all hinge on biodiversity. Reframing biodiversity as the bridge between adaptation and finance, and ensuring its joint stewardship by policy and markets, is the most realistic and sustainable path forward.

 

- Nature Positive:

 ㆍA sustainability strategy aimed at halting biodiversity loss and ensuring that businesses and societies contribute positively to nature. It goes beyond minimizing environmental damage to actively restoring and regenerating ecosystems, thereby placing nature back on a path to recovery.