Times News Express

December 17, 2021
October 2021 was an important month for crisis meetings. There was the big one, COP26, where decisionmakers descended on Glasgow to spend two frenetic weeks figuring out how to achieve the goals set out in the Paris Climate Agreement and keep global heating under 1.5 degrees Celsius. But earlier that month, a different crisis meeting took place that almost completely slipped below the radar—a meeting that will have huge implications for the future of every living thing on our planet.

The world is in the middle of a biodiversity crisis. Birds, mammals, and amphibians are going extinct at least 100 to 1,000 times faster than they did in the millions of years before humans began to dominate the planet. In the last 500 years alone, human activity has forced 869 species into extinction, according to data from the International Union for Conservation of Nature (IUCN). If things continue at their current rate, we’re on track for a sixth mass extinction—the first since that infamous dino-ending catastrophe 65 million years ago, which sparked an extinction event that eventually knocked off 76 percent of all species. 

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Responsible Investor

December 3, 2021
The dust may have settled on COP26, but a different – and potentially less disappointing - Conference of the Parties in on the horizon, and it’s one that investors should be watching closely.

COP15 is aspiring to do for biodiversity what COP21 did for climate change. Where COP21 was the birthplace of the Paris Agreement, the second leg of COP15 in May 2022 hopes to sign off on the Post-2020 Global Biodiversity Framework - an international agreement on how we can “live in harmony with nature” by 2050.  

It could be argued that regulation is steering the agenda for climate finance, but when it comes to biodiversity investors are moving fast to make sure they stay ahead of the rulemakers. Over the past two weeks alone, there have been developments on all three of the core components needed to build a sustainability market: committed assets, disclosure guidelines and new financial products.  

On Tuesday, nine more investors - including pension funds KLP, PensionDanmark and ERAFP - signed up to the Finance for Biodiversity Pledge. The pledge, which now has 84 backers, commits institutions to collaborating, engaging, setting targets and reporting on biodiversity by 2025.

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Global Citizen

December 2, 2021
Conservation is about protecting that which sustains life on Earth — the rivers that flow with fresh water, the soil rooting crops in place, the forests and marinescapes that release oxygen.

Framed in this way, conservation seems like an undertaking that would be universally supported. 

But conservationists face countless challenges, from the industrial forces invested in exploiting natural resources and polluting ecosystems to a general lack of funding and government support. Efforts to conserve an environment have long been framed by opponents as a threat to jobs and community well-being — as if any jobs or well-being would exist without a functioning environment.

This opposition appears to be fading as the climate and biodiversity crisis brings increasing devastation. Organizations are receiving waves of funding, and the voices of Indigenous people, who have long advocated for reciprocity with nature, are being elevated. The United Nations has deemed now until 2030 to be part of the Decade on Restoration, a globally coordinated effort to heal the planet. An increasing number of countries have pledged to protect 30% of land and marine spaces by 2030, and some corporations are beginning to transform their supply chains and operations.

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Mirage

November 23, 2021
At the UN Climate Change Conference COP26 in Glasgow in November, direct and unprecedented engagement between indigenous peoples, local communities and governments helped unlock sustainable and resilient ways to achieve the Paris Agreement commitments and reverse biodiversity decline. For the first time in the history of the UNFCCC, twenty-eight indigenous peoples were nominated from each of the seven UN indigenous socio-cultural regions, to engage directly as knowledge holders and share experiences as indigenous experts with governments.

Indigenous peoples and local communities have knowledge and values oriented towards nature and amassed through generations. Indigenous peoples steward over 80% of the planet’s remaining biodiversity.

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Pew

November 18, 2021
The role of nature to mitigate the impacts of a warming climate—and help wildlife, ecosystems, and people adapt and build resilience to those changes—was a core topic of attention at the 26th Conference of the Parties (COP26) to the United Nations Framework Convention on Climate Change in Glasgow, Scotland. The need for increased ambition, in part by protecting and restoring critical carbon sinks around the world, marked a significant call to action in the decade ahead. 

Successfully implementing the agreement—referred to as the Glasgow Climate Pact—will depend on governments moving fast and decisively to deliver on it, and doing so would put many nations on a path toward the net-zero-emissions goals they committed to by 2050 (some have pledged to hit this target by 2030). And although the outcome of the Glasgow summit promises an improvement on the anticipated emissions gap reported prior to the conference, the commitments secured at the conference will not be enough to limit global temperature rise to 1.5 degrees Celsius—which science says is needed to stave off major impacts of climate change.

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Campaign for Nature

November 17, 2021
The prominence of nature and biodiversity in the Glasgow Climate Pact and throughout the climate talks marks the first time nature was meaningfully incorporated into global climate negotiations. 

The final Glasgow climate agreement notes the importance of: “ensuring the integrity of all ecosystems, including in forests, the ocean and the cryosphere, and the protection of biodiversity, recognized by some cultures as Mother Earth.” 

It goes on to emphasize: “the importance of protecting, conserving and restoring nature and ecosystems, including forests and other terrestrial and marine ecosystems, to achieve the Paris Agreement temperature goal by acting as sinks and reservoirs of greenhouse gases and protecting biodiversity, while ensuring social and environmental safeguards.” 

Indigenous Peoples were recognized as important partners in designing and implementing climate solutions during negotiations.  And, according to the document, countries should respect, promote and consider their rights when climate action is taken. However, sufficient safeguards for Indigenous rights and recognition of Indigenous leadership  in “Nature-based solutions” were inadequate according to many Indigenous leaders who attended the COP.

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Landscape News

November 16, 2021
The 2021 U.N. Climate Change Summit (COP26) has ended, but many questions remain on the agreements reached by the 197 parties as well as the pledges made by governments.

The Glasgow Climate Pact aims to phase down unabated coal power and end inefficient fossil fuel subsidies, while more than 140 countries have now committed to ending deforestation by 2030.

The two-week event also ended the legal wrangling over Article 6 of the Paris Agreement after six years of discussions, thereby providing a framework for countries to exchange carbon credits through the UN Framework Convention on Climate Change (UNFCCC) as a mechanism to reduce emissions.

Here, climate lawyer and policy advisor Stephen Leonard shares his views on these and other outcomes.

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The Statesman

November 14, 2021
It’s becoming increasingly clear that we not only need to adapt to protect vulnerable communities and natural habitats against climate change but we also need to look to nature as a regenerative solution, not just something that we need to protect, but something that will protect us, Google has stressed.

During the past two weeks at the 2021 UN Climate Change Conference (COP26), world leaders committed to averting the worst consequences of climate change.

“When we observe the Earth’s surface over the past few decades in Google Earth’s Timelapse, the immensity of the change to our natural environment is arresting,” said Nithya Sowrirajan, Director, Global Solutions, Google Earth and Earth Engine.“At Google, we’re keenly invested in preventing the worst effects of climate change, and helping our customers use Google Cloud technology to build a more sustainable future,” added Jen Bennett, Director, Office of CTO, Google Cloud.

It was 11 years ago at COP16 that the tech giant unveiled Google Earth Engine, an earth observation platform that combines a multi-petabyte catalog of satellite imagery and geospatial datasets with powerful analysis capabilities.

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ENDS Report

November 8, 2021
In a conversation with fellow economist Lord Stern at COP26, Sir Partha Dasgupta said that a ‘bold and imaginative’ response is needed to provide a financial incentive to protect globally valuable ecosystems.

“Rainforests are a global public good… and yet they are in national jurisdictions,” said Dasgupta, the author of a review of the economics of biodiversity commissioned by the Treasury. But the incentive that they have to protect such habitats is less than their value for the biosphere as a whole, posing an economic dilemma. There is a similar problem with the deep ocean, too: “nobody has to pay for it” when extracting resources such as fish or minerals, the professor said.

So a new body to protect global public goods, akin to the International Monetary Fund or World Bank but operating under the United Nations, should be established, he argued. They could charge for access, providing funding for the maintenance of ecosystem services.

A good deal of negotiation would be needed to set it up, of course – “but I think we should not fear that”.

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New Straits Times

November 7, 2021
Since 1994 the United Nations (UN) has convened almost every country on Earth for an annual summit known as the Conference of the Parties (COP) to the UN Framework Convention on Climate Change (UNFCCC).

This year's two-week 26th meeting, COP26, is described as "the most significant climate event since the 2015 Paris Agreement" which committed nations to limiting global warming to well below 2°C (preferably 1.5°C), and "the world's best and last chance to get runaway climate change under control."

United States President Joe Biden, Indian Prime Minister Narendra Modi, and Indonesian President Joko Widodo were among the 200 world leaders attending the first two days of the conference in Glasgow, Scotland.

Malaysia is ably represented by the savvy Secretary-General of the Water and Environment Ministry Datuk Seri Dr Zaini Ujang.

The conspicuous absence of more senior representation, though, seemed to many a sign that Malaysians were nonchalant about the event. That is, until a big headline appeared saying that more than 100 world leaders had promised to end and reverse deforestation by 2030.

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Yahoo!

November 6, 2021
Climate change and biodiversity loss are intrinsically connected, which is why a coordinated approach to tackle them both is essential. Nature-based solutions, such as conserving carbon-rich natural areas and restoring wetlands, can help countries tackle both these challenges.

To address these interconnected crises, Canada will allocate at least 20 percent of its $5.3 billion climate finance commitment to nature-based climate solutions with biodiversity co–benefits in developing countries over the next five years. This represents more than CA$1 billion. Earlier this week, the Prime Minister announced at COP26 that Canada would provide $15 million in support for the Ocean Risk and Resilience Action Alliance and the Global Fund for Coral Reefs. This funding will help developing countries build domestic capacity to take climate action, build resilience, and advance adaptation efforts while also increasing biodiversity.

As part of the High Ambition Coalition for Nature and People and the Global Ocean Alliance, Canada is leading the way to build support for an international target to protect 30 percent of our lands and oceans by 2030.

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The Independent - OpEd

November 3, 2021
This year, we’ve had the starkest warnings yet of the terrifying future in store if we fail to keep global temperature rises within 1.5 degrees. With Cop26 now underway, we stand at a crossroads: either deliver a tangible trajectory towards addressing the climate emergency, or risk passing a point of no return.

Globally, Cop26 represents a significant moment for world leaders to take bold action on tackling climate change and action to help our natural world recover. Natural England, the Environment Agency and the Forestry Commission stand together to call for nature-based solutions to be prioritised. This will not only help us adapt society, so we are more resilient to climate disruption, it will also reduce emissions helping to reach net zero.

We cannot reach net zero or limit global temperature rises to 1.5 degrees without protecting and restoring our natural world. Through improving the way forests, grasslands, agriculture and other lands are managed, our research shows we can deliver up to 37 per cent of the emissions reductions that we need globally by 2030, while at the same time making contributions toward resilience and adaptation. We have a chance – and a responsibility – to use Cop26 to catalyse the change we need to reset our relationship with nature.

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The Independent - OpEd

November 3, 2021
Reversing nature loss by 2030, while also halving greenhouse gas emissions this decade, is critical to avoid climate catastrophe. Nature can contribute up to a third of the climate action needed over the next decade, along with measurable benefits for biodiversity and people.

COP26 is the biggest moment for forests and nature since the Paris Agreement in 2015. Glasgow is producing the largest ever financial incentives for protecting forests, with unprecedented commitments from donor nations, investors and companies. 

Yesterday, more than 30 leading financial institutions, collectively with over US$ 8.7 trillion in assets under management, committed to tackle agricultural commodity-driven deforestation as part of broader efforts to drive the global shift towards sustainable production and nature-based solutions.

On top of that, more than 100 government leaders representing over 85% of the world’s forests committed to halt and reverse deforestation and land degradation by 2030, a pledge that was backed by $12 billions of public fund and more than $7 billion of private commitments, including exciting initiatives like the LEAF Coalition, the Natural Capital Investment Alliance and the Finance for the Amazon, Cerrado and Chaco (IFACC) initiative.

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BBC News

November 2, 2021
Brazil - where stretches of the Amazon rainforest have been cut down - was among the signatories on Tuesday.

The pledge includes almost £14bn ($19.2bn) of public and private funds.

Experts welcomed the move, but warned a previous deal in 2014 had "failed to slow deforestation at all" and commitments needed to be delivered on.

Felling trees contributes to climate change because it depletes forests that absorb vast amounts of the warming gas CO2.

UK Prime Minister Boris Johnson, who is hosting the global meeting in Glasgow, said "more leaders than ever before" - a total of 110 - had made the "landmark" commitment.

"We have to stop the devastating loss of our forests," he said - and "end the role of humanity as nature's conqueror, and instead become nature's custodian".

The two-week summit in Glasgow is seen as crucial if climate change is to be brought under control.

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Associated Press

November 2, 2021
World leaders promised to protect Earth’s forests, cut methane emissions and help South Africa wean itself off coal at the U.N. climate summit Tuesday — part of a flurry of deals intended to avert catastrophic global warming.

Britain hailed the commitment by more than 100 countries to end deforestation in the coming decade as the first big achievement of the conference in the Scottish city of Glasgow, known as COP26 — but experts noted such promises have been made and broken before.

More than 120 world leaders were heading home after two days in which they received stark warnings about the state of the Earth from Johnson, naturalist David Attenborough, Queen Elizabeth II and — most powerfully — the people of countries and regions already facing climate upheaval.

Johnson said at a news conference that it was important to “guard against false hope,” but added that he was “cautiously optimistic” about the outcome of the talks. The conference aims to keep the world on track to limit global warming to 1.5 degrees Celsius (2.7 Fahrenheit) above pre-industrial levels — the goal set at the Paris climate conference six years ago.

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