A group of financial service firms stated on Friday that more detailed information is needed about the oceans around the world, including deep sea fishing and supply chain sourcing, to help companies make investment decisions that will help protect biodiversity.

Investors Federated Hermes Limited (BNP Paribas Asset Management), Robeco, Mirova, and Storebrand Asset Management have highlighted data gaps across a range of sectors, from deep-sea oil and gas to ports, shipping, and offshore oil and mining.

Investors need better quality data on oceans to better understand their companies' dependencies, impacts and risks. This is especially important as the world moves towards a landmark global biodiversity agreement in 2022.

The companies stated that the agreement to protect 30% by 2030 of the planet’s lands, inland waters, coastal and marine areas was a vital undertaking, as the oceans cover 71% of our planet and contain 1-2 million species. They also provide an economic value of $2.5 billion a year.

Investors said that credible data that is consistent with international standards are essential to help investors make informed investment decisions and to allocate capital to provide solutions that protect biodiversity.

Investors can understand compliance with regulations by using performance indicators, such as tracking sea use changes per square kilometer.

Data could also include information on the supply chain, a more localized context for Arctic Route trips and high seas fishing, and data about ownership and location of vessels, hotels and fishing vessels.