We can help beat the climate crisis by investing in nature

(Credit: Unsplash)

This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum.

Author: Carter Roberts, President and CEO, World Wildlife Fund in the US & Yannick Glemarec, Executive Director, Green Climate Fund

  • Ecosystem-based climate solutions have the greatest positive impact both for the planet and for local communities in developing countries.
  • But to be effective and durable, it’s vital to finance and implement these interventions in the right way.
  • Here are three key ingredients for successful and impactful nature-based solutions.

In Paris in 2015, leaders from 192 nations committed to limit the increase of global average temperatures since pre-industrial levels to well below 2°C, while pursuing efforts to stay within 1.5°C. Today 131 countries, responsible for 73% of global emissions, have now adopted or are considering net-zero emission targets – and these targets have put the Paris Agreement’s goals within reach. But achieving those goals will require each country to take a unique path. And many will require financial support to deploy new technologies, protect natural storehouses of carbon, and help communities adapt to the changes that are already underway.

Climate finance stands as one of the critical pillars for global efforts to combat the climate crisis. Financing a rapid transition to a net-zero emission, climate-resilient economy will require significantly more investment, investment in a different set of assets, and investment that addresses the humanitarian imperative of social inclusion and poverty alleviation.

While the recent G7 summit did not result in significant new financial pledges, global leaders did reiterate their commitment to achieving the $100 billion per year of climate finance that has long been promised. The leaders specifically called for “more finance contributing to adaptation and resilience, disaster risk and insurance, as well as support for nature and nature-based solutions”.

We applaud that focus on nature-based, or ecosystem-based approaches, as they are sometimes called. These hold the promise of delivering the biggest bang for the buck for securing both climate benefits and community benefits in many developing countries. Going forward, we urge global leaders to devote a significant portion of new and additional climate financing to approaches centered on nature, people and ecosystems.

We like these approaches because they simultaneously conserve, restore or improve the use or management of natural ecosystems, while increasing carbon storage, avoiding greenhouse gas emissions and/or increasing resilience to the impacts of climate change. These approaches matter because they represent the biggest contribution to lowering emissions that many developing countries can make.

Developed nations typically emit a majority of their greenhouse gases through their transportation, electricity or manufacturing sectors. But developing nations’ biggest climate impact often comes from land use and deforestation. Ecosystem-based approaches can therefore provide some 30% of the global climate mitigation needed to meet the Paris Agreement targets.

Wider benefits

Investments in nature and ecosystems can also deliver tangible benefits beyond their value as a climate tool. These approaches often help to secure livelihoods for local people, for example. A recent report by McKinsey highlights the return-on-investment of protecting nature versus other approaches. As one example, it notes that coral reefs reduce wave energy and thus protect nearly 200 million people in India, Indonesia, the Philippines and elsewhere from extreme storm damage. The alternative – constructing artificial storm barriers – would cost roughly 15 times more than simply protecting or restoring the reefs.

The ecosystem services provided by natural capital benefit us in a host of ways
The ecosystem services provided by natural capital benefit us in a host of ways Image: McKinsey & Company

Of course, not every initiative is created equal. As leaders of two organizations with deep experience in financing and implementing nature and ecosystem-based solutions, here are three key ingredients we recommend to make these initiatives successful and durable.

1. It’s important to make space for everyone at the table. National and local governments, local communities and indigenous peoples, the private sector and civil society all have a role to play in both design and implementation. It is also critical to recognize the gender dimensions of ecosystem-based approaches and women’s contribution to the preservation and restoration of ecosystems. Ensuring that climate initiatives are country-owned and country-driven, that they are gender responsive, and have the consent, full support and participation of each of these stakeholders, stands as the critical first test for every climate initiative, but especially for those designed to protect landscapes and seascapes. And following on from this principle, any benefits – financial or otherwise – derived from the initiative should be shared equitably with the people who call the affected area home. They are, after all, the most critical allies for long-term sustainable management.

2. Nature and ecosystem-based approaches should be designed using the best science, measurements, and metrics to ensure the achievement of real benefits for climate, nature, and people. Early steps should include identifying local and regional causes of nature loss, developing a deeper understanding of expected local climate impacts, and assessing the trade-offs of different resource management practices to maximize positive outcomes. Pressures on ecosystems from human activities and climate change should be carefully and regularly assessed, including those from any policies that may inadvertently be incentivizing unsustainable use. Based on this assessment, goals should be established, needed interventions identified and costed, and clear timelines established for action by all partners. Finally, a plan should be developed to measure progress and assess the need for adaptive action.

3. There needs to be a strategy to guarantee the long-term success of investments. This requires a clear vision for ensuring stable and sustained funding and local management. Nature

What is the World Economic Forum doing about nature?

Biodiversity loss and climate change are occurring at unprecedented rates, threatening humanity’s very survival. Nature is in crisis, but there is hope. Investing in nature can not only increase our resilience to socioeconomic and environmental shocks, but it can help societies thrive.

There is strong recognition within the Forum that the future must be net-zero and nature-positive. The Nature Action Agenda initiative, within the Platform for Accelerating Nature-based Solutions, is an inclusive, multistakeholder movement catalysing economic action to halt biodiversity loss by 2030.

Dynamic and flourishing natural ecosystems are the foundation for human wellbeing and prosperity. The Future of Nature and Business report found that nature-positive transitions in key sectors are good for the economy and could generate up to $10.1 trillion in annual business value and create 395 million jobs by 2030.

To support these transitions, the Platform for Accelerating Nature-based Solutions has convened a community of Champions for Nature promoting the sustainable management of the planet for the good of the economy and society. The Nature Action Agenda also recently launched the 100 Million Farmers initiative, which will drive the transition of the food and agriculture system towards a regenerative model, as well as the BiodiverCities by 2030 initiative to create an urban development model that is in harmony with nature.

Get in touch if you would like to collaborate on these efforts or join one of our communities.

Our most successful nature and ecosystem-based climate initiatives have embedded each of these principles. In Bhutan, for example, both of our organizations worked with the government, community stakeholders, civil society, and several private foundations and individual donors to secure the funding needed for long-term protection of a 5 million-acre network of forests, rivers, and other natural resources representing half of the country’s territory. Bhutan is one of the very few carbon-negative countries on Earth, and its rivers contribute to a network of Himalayan river systems that deliver water to hundreds of millions of people. Keeping the country’s ecosystems intact will help it stay that way.

It’s clear that nature – and those securing its ecosystem services – have big roles to play in addressing the climate crisis. In many places, protecting, managing, and restoring landscapes and seascapes holds the key to delivering tangible benefits for nature and local people, while also securing the emission-reduction and resiliency benefits we need to meet the goals of the Paris Agreement. By adhering to the key ingredients outlined above, nature and ecosystem-based investments can deliver lasting benefits that put people first, build community resilience to climate change, and drive real progress toward sustainable development.

the sting Milestones

Featured Stings

Can we feed everyone without unleashing disaster? Read on

These campaigners want to give a quarter of the UK back to nature

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

4 innovative renewable energy projects powering Europe’s green future

Financing economic recovery, written by United Nations Under-Secretary-General

Is your smart home as safe as you think?

45th Anniversary of the French Confederation (Confédération Nationale des Junior Entreprises)

A Europe that delivers: EU citizens expect more EU level action in future

Islamophobia is driving more US Muslims to become politically engaged, suggests report

MEPs condemn attacks on civilians, including children, in Yemen

The banks first to benefit from the new euro trillion ECB plans to print

8 fascinating and fearsome frontiers of science you should know about

Making the move to more sustainable mobility – three steps for companies

Colombia: Rights experts condemn killing of reintegrated former rebel fighter, call for respect of peace process

EU-Russia summit in the shadows of Kiev’s fumes

The Parliament sets the way for the European Banking Union

6.1 billion EUR for sustainable fisheries and safeguarding fishing communities

Thursday’s Daily Brief: Safeguarding civilians, strengthening Ebola response in DR Congo, marking Fistula Day, updates on CAR and Syria

This is how India can become the next Silicon Valley

Turkey: Commission continues humanitarian support for refugees

19th EU-China Summit: A historical advance in the Chino-European rapprochement

The woman who wanted to be treated the same as the man

These countries are the most peaceful – in 3 charts

Alternative proteins will transform food, mitigate climate change and drive profits. Here’s how

Estonia: use robust growth to improve income equality and well-being

The use of mobile technologies in Radiation Oncology: helping medical care

These countries are leading the way in green finance

Shenzhen just made all its buses electric, and taxis are next

4 eco-friendly products put sustainable spins on classic practices, from teacups to hankies

Why the future is bright for drone technology

‘Jerusalem is not for sale’ Palestinian President Abbas tells world leaders at UN Assembly

US-China trade war: Washington now wants control of the renminbi-yuan

Look Mom, even the House of Lords says the #righttobeforgotten is not right

Portuguese Presidency outlines priorities to EP committees

An economist explains how to value the internet

Investing in rural women and girls, ‘essential’ for everyone’s future: UN chief

Cum-ex tax fraud scandal: MEPs call for inquiry, justice, and stronger tax authorities

Libyan authorities must shoulder the burden to support country’s ‘vulnerable’ south

COVID 19 Vaccine: A new terror or a savior for mankind?

State aid: Commission approves €150 million Austrian subordinated loan to compensate Austrian Airlines for damages suffered due to coronavirus outbreak

The status of the Code of Medical Ethics: loading

UN Security Council offers Yemen Special Envoy ‘their full support’

Over 1 million health consultations provided in Yemen in 2019: UN migration agency

Why the ECB prepares to flood the markets with more and free of charge euro; everybody needs that now

“I believe that startups are for grown-up men, those, who have already achieved something “

Do not jeopardise future-oriented EU programmes, say EP’s budget negotiators

‘Global sisterhood’ tells perpetrators ‘time is up’ for pandemic of violence

One Hundred Years of Qipao History: from Shanghai to EU

Finland is a world leader in clean energy. Here’s what’s driving its success

Nearly four million North Koreans in urgent need, as food production slumps by almost 10 per cent

Will the Greek economy ever come back to growth?

3 important lessons from 20 years of working with social entrepreneurs

At this ‘critical moment’, UN chief urges anti-corruption conference to adopt united front

We are stronger than this pandemic (COVID-19)

EU lawmakers vote to reintroduce visas for Americans over “reciprocity principle”

‘Endemic’ sexual violence surging in South Sudan: UN human rights office

Public Policies for LGBT in Brazil

A faster, fairer way to retire carbon-emitting assets

Amid pandemic detours, mental health matters

Coronavirus: Commission concludes talks to secure future coronavirus vaccine for Europeans

Why hourly workers should have the same benefits as salaried ones

How do we design an inclusive energy transition?

State aid: Commission approves €300 million Austrian scheme to support organisers of events affected by coronavirus outbreak

More Stings?

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s