Nature Positive SME Finance

气候和生态紧急情况是由不可持续的商业和投资以及负面的环境社会（消费者）行为造成的。这些不利影响可以通过考虑环境后果的投资方法来解决，并使自然成为有价值的资产。然而，研究和相关的政策/商业举措集中在大公司，而忽视了中小企业（SMEs）面临的问题，尽管它们在英国和全球经济中占更大的比例。近年来对气候变化投资的关注有所增加，但对投资者对生物多样性和自然的积极影响的认识仍存在较大差距。此外，早期阶段的中小企业创新者提供颠覆性技术和新的商业模式，以支持自然的积极影响。达斯古普塔（Dasgupta）报告（2021年）和央行行长（2022年）改善生物圈任务的建议支持了这一点。投资者和寻求融资的中小企业在相互了解商业和可持续性因素方面都面临挑战。这些中小企业财务信息不对称（Owen et al 2022）在考虑自然积极性时更大，因为在定义生物多样性影响与相关的科学目标（sbt）方面缺乏明确性。这些信息不对称在处理新兴行业的小型颠覆性中小企业时更为严重。本研究考察了投资者希望被投资企业报告生物多样性所面临的限制。它还将审查目前寻求自然积极和净零的企业的良好做法。这需要注意所使用的度量标准，以及它们的度量如何对中小企业来说是实用和负担得起的。最后，它将探讨鼓励支持投资者和中小企业的生态系统所需的步骤，以便他们能够评估自然和碳影响。该研究将审查四个高风险和潜在高净收益影响部门：1)农业食品；ii)基础设施（运输和建设以及生物多样性净收益的应用）；Iii)时装和服装；先进工程和生物技术（提供缓解和测量生物多样性技术的部门）。在所有这些方面，我们将研究不同的融资来源，如银行、供应链金融和早期股权投资者（如风险资本家、商业天使、加速器）。通过我们的项目合作伙伴，这项研究将建立在英国的网络基础上，这些网络来自有影响力的投资者团体、商业案例研究和支持机构。已经承诺参与该项目的主要合作伙伴包括早期投资者、银行、金融中介机构（尤其是ESG顾问）、小企业支持和代表组织。数据将通过定性访谈和与投资者、中小企业和其他关键信息提供者的研讨会收集，为净零和生物多样性报告提供咨询意见。在一个快速变化的时期，该项目将通过继续米德尔塞克斯大学的企业和中小企业投资者的纵向样本来研究变化的过程，这些投资者正在开发创新的生物多样性报告方法。进一步的工作将围绕中小企业和其他企业的生物多样性报告研究蓬勃发展的行业。生态学家和商业报告专家将共同探讨正在使用的方法，优先考虑的指标，用于评估影响的方法，以及正在开发的技术，以降低成本，扩展分析的深度和准确性。通过让实践合作伙伴从一开始就参与项目，影响计划将确保为中小企业、投资者以及提供生物多样性和碳评估服务的机构提供一系列良好的实践指南。通过可持续繁荣认识中心（CUSP）传播小组的力量，研究结果将惠及更广泛的受众。

The climate and ecological emergency is driven by unsustainable business and investment and negative environmental societal (consumer) behaviours. These adverse effects can be addressed through approaches to investment that consider environmental consequences and where the nature becomes a valued asset. However, research and related policy/business initiatives have focussed on large corporates while ignoring the issues facing Small and Medium-sized Enterprises (SMEs), despite the fact that they form a larger proportion of the UK and global economy. There is more recent attention to investment for climate change, but there remain major gaps in understanding concerning investors impact on biodiversity and nature positive impacts. Furthermore early stage SME innovators offer disruptive technology and new business models to support nature positive impacts. This is underpinned in the Dasgupta report (2021) and the recommendations for a Central Bankers (2022) mandate to improve the biosphere. Both investors and the SMEs seeking finance face challenges in terms of having information on each other about commercial and sustainability factors. These SME finance information asymmetries' (Owen et al 2022) are greater when considering nature positivity due to the lack of clarity in defining biodiversity impacts with related Science Based Targets (SBTs). These information asymmetries are even greater when dealing with new and small disruptive SMEs operating in novel and emerging sectors.This research examines the constraints facing investors wanting investees to report on biodiversity. It will also examine the current good practice in businesses seeking nature positivity and Net Zero. This requires attention to the metrics used and how their measurement can be practical and affordable for SMEs. Finally, it will explore the steps required to encourage a support ecosystem for both investors and SMEs so they can assess nature and carbon impacts. The study will examine four high-risk and potentially high net-gain impact sectors: i) agri-food; ii) infrastructure (transport and construction and appliance of Biodiversity Net Gain); iii) fashion and clothing; iv) advanced engineering and biotech (sectors offering tech for mitigating and measuring biodiversity). Across all of these we will examine the diverse sources of finance, such as banks, supply chain finance, and early stage equity investors (e.g. venture capitalists, business angels, accelerators). Through our project partners, the study will build on UK-based networks derived from impact investor groups, business case studies and support agencies. Key partners already committed to this project include early stage investors, banks, financial intermediaries (notably ESG advisors), and small business support and representative organisations.Data will be collected through qualitative interviews and workshops with investors, SMEs and other key informants advising on reporting for Net Zero and biodiversity. In a period of rapid change, this project will examine the process of change by continuing Middlesex University's longitudinal sample of businesses and SME investors developing innovative approaches to biodiversity reporting. Further work will examine the burgeoning industry around biodiversity reporting for SMEs and other businesses. Ecologists and business reporting specialists will work together to explore the approaches being used, the metrics being prioritised, the methodologies used to assess impact, and the technology being developed to reduce the costs and extend the depth and accuracy of analysis. By having practice partners embedded in the project from the start, the impact plan will ensure there are a range of good practice guides for SMEs, investors and those providing biodiversity and carbon assessment services. The results will reach a wider audience building on the strengths of the Centre for the Understanding of Sustainable Prosperity (CUSP) communications team.