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'Spring' initiative backed by 200 investors with $15

trillion

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To focus on policy engagement around critical ecosystems

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Focus companies include L'Oreal, Toyota ( TM )

By Simon Jessop

LONDON, June 26 (Reuters) - A group of more than 200

investors on Wednesday backed a plan to start talks with 60

companies over biodiversity, focusing on those active in

countries with ecosystems at risk of forest loss and land

degradation.

The Spring initiative comes ahead of global talks in

Colombia in October that aim to accelerate efforts to protect

and restore nature as part of a Global Biodiversity framework

deal reached in 2022.

Launched by the Principles for Responsible Investment, a

U.N.-supported network, the Spring process will focus on policy

action impacting the planet's most important biomes.

"What we're seeing today from investors is a recognition of

the importance of nature when managing material investment

risks, including deforestation, biodiversity loss, when aligned

with their individual fiduciary duty," said PRI Chief Executive

David Atkin in a statement.

All of the companies are major players in the food and

agriculture, mineral mining, automotive, chemicals or banking

sectors, and either have a large exposure to nature loss or a

influential role in engaging policymakers.

Among them are French cosmetics company L'Oreal, where talks

will be led by CCLA Investment Management and Dorval Asset

Management; and Japanese carmaker Toyota ( TM ), where talks will be

led by Nomura Asset Management.

In a statement, Toyota ( TM ) said it had been working with

stakeholders to promote conservation for many years, and would

"continue to engage in open and constructive dialogue with

investors and initiatives".

L'Oreal did not immediately reply to a request for comment.

The talks will aim to improve the impact on nature of the

companies' operations and risk management, their supply chain

management and political engagement, the PRI said.

"Halting and reversing forest loss and land degradation is

fundamental for a healthy climate, a sustainable future and

long-term investment results," said Emine Isciel, Head of

Climate and Environment, Storebrand Asset Management.

"We recognise the need for sound public policy to achieve

this goal."

(Additional reporting by Dominique Patton and Daniel Leussink;

Editing by Ros Russell)