Mongabay

August 31, 2021
Hurricane Ida hit New Orleans and surrounding areas in the U.S. state of Louisiana this past Sunday, serving as a grim reminder of the power of coastal storms — which are predicted to increase as the climate crisis rolls onward.

Scientists and engineers have known for some time that wetlands (such as dense mangroves, tree-studded swamps, and grass-covered marshes) protect exposed coastlines and coastal cities from storms. But for places like London, Tokyo, New York and 19 of the world’s largest cities built around estuaries — the wave-sheltered places where freshwater meets the sea — wetlands may be their silent superman.

Wetlands can reduce flood levels from storms by up to 2 meters (6 feet) and avoid $38 million in flooding damages per estuary, according to a new study published in the journal Environmental Research Letters.

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Thomson Reuters

August 27, 2021
China and African nations are pushing for the establishment of a multi-billion-dollar "global biodiversity fund" to help developing countries meet goals agreed in a new pact being negotiated to protect nature, U.N. officials and observers said.

About 195 countries are expected to finalise a new accord to safeguard the planet's plants, animals and ecosystems at a two-part U.N. summit due to culminate in May next year in the southern Chinese city of Kunming.

The difficulty of meeting face to face because of the COVID-19 pandemic meant the summit was postponed three times and then split into two, with the first virtual session scheduled for October and preparatory discussions now underway.

Basile van Havre, co-chair of the talks under the U.N. Convention on Biological Diversity, said China and a number of mainly African countries are proposing a new biodiversity fund to help finance the goals of the pact, once agreed.

"The idea of increasing funding is a good one and we all welcome this," he told the Thomson Reuters Foundation.

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Landscape News

August 19, 2021
Public development banks (PBDs) have a vital role to play in promoting greater investment in biodiversity and nature-based solutions in the countries where they lend, according to a new report on biodiversity finance produced ahead of the 15th Conference of Parties (COP15) of the U.N. Convention on Biodiversity (CBD).

Its findings and recommendations are based on research carried out by a team headed by Leon Bennun, chief scientist at The Biodiversity Consultancy and Renaud Lapeyre, an independent expert with World Wildlife Fund (WWF) for Nature France, and funded by the WWF.

The main aim, says Lapeyre, is to support and accompany these banks and their partners in transforming their models toward contributing to nature-positive finance and reducing investments that harm biodiversity.

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Trade for Development News

August 17, 2021
The COVID-19 pandemic has led to a deep global recession in which much economic activity has declined, and one of the hardest hit sectors is tourism. In tourism-dependent economies in Africa and the Caribbean, for example, GDP is projected to shrink by 12%.  

The economic toll is occurring at a time when biodiversity is imperiled globally. The 2020 Living Planet Index reported a 68% average decline in birds, amphibians, mammals, fish and reptiles since 1970. Biodiversity matters because of its intrinsic worth, and because it underpins human wellbeing and supports economic activity. Protected areas, which are key to any global effort to contain biodiversity loss, attract eight billion visitors in a typical year.

How can countries address the intersecting calamities of a pandemic in a time of biodiversity loss?  Moreover, can countries afford to bring even larger areas under conservation when the need for economic recovery is so pressing, fiscal spaces are tight and so many development challenges persist?

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G20

July 22, 2021
The G20 Environment Ministers’ Meeting ended today in Naples with the approval of an important joint communiqué, the outcome of weeks of negotiations.

The document is based on three macro areas.

1) Biodiversity: protection of natural capital and restoration of ecosystems with solutions based on nature, defense and restoration of the soil, protection of water resources, oceans and seas including the prevention and reduction of marine plastic litter.

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World Bank Blog

July 12, 2021
The rollout of vaccines globally, particularly as this effort picks up momentum, is spreading hope that countries will soon have control over the devastating health impacts of the COVID-19 pandemic. Countries still, though, have a long path to travel for economic recovery. The pandemic has led to a deep global recession in which much economic activity has declined, including in the hard-hit tourism sector. In tourism-dependent economies in Africa and the Caribbean, for example, GDP is projected to shrink by 12 percent.

The economic toll is occurring at a time when biodiversity is imperiled, globally. The 2020 Living Planet Index reported a 68 percent average decline in birds, amphibians, mammals, fish, and reptiles since 1970; one-third of the world’s terrestrial, and two-thirds of its marine, protected areas are under threat from human impact. Protected areas are not only key to any global effort to conserve biodiversity, they are also crucial to address climate change and achieve sustainable development goals. Currently, 17 percent of land and 8 percent of the marine environment, world over, is protected. The proposed target for 2030 – to be negotiated at the CBD COP-15 in Kunming, China in the coming months -- is to expand this coverage to at least 30 percent, part of an effort to address the threat to biodiversity.

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Edie

July 7, 2021
More than 100 investors, including the likes of Aviva and M&G Investments, representing $4.2trn in assets under management have written to some of the world's biggest banks, calling on them to strengthen climate and biodiversity targets this year.

Convened through the ShareAction coalition, 115 investors have written to 63 leading banks, including JPMorgan Chase, Deutsche Bank and Standard Chartered, calling on them to beef up environmental commitments ahead of key summits this year.

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Reuters

The global economy faces annual losses of $2.7 trillion by 2030 if ecological tipping points are reached and countries fail to invest more in protecting and restoring nature, the World Bank said on Thursday, calling for a greener COVID-19 recovery.

In its first “Economic Case for Nature” report, the bank looked at how many economies rely on biodiversity and how they would cope if certain services provided by nature collapsed. It found that sub-Saharan Africa and South Asia would be worst hit.

The study identified key “ecosystem services” that it said were close to tipping points, including wild pollinators and provision of food from marine fisheries and timber from native forests.

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Campaign For Nature

July 1, 2021
A  World Bank report released today argues that policies safeguarding nature deliver a long list of valuable benefits, including pollination, food provision and timber from native forests, that deliver a win-win for biodiversity and economies. The Economic Case for Nature finds that if the world fails to protect nature, we could lose $2.7 trillion in global GDP annually, with countries in Sub-Saharan Africa and South Asia particularly hard hit.  

Building off recent reports laying out the economic benefits of protecting nature and following a major proclamation by G7 nations that protecting nature is an urgent priority, the report uses a first-of-its-kind analysis to reveal the extent to which valuing and protecting nature is a key development issue.

It makes the case that nature-smart policies that preserve ecosystem service benefits would increase global GDP by $50-150 billion compared to business as usual and reduce the risk of ecosystem collapse and an associated potential reduction in GDP of 2.3%. Other reports have highlighted additional benefits of protecting nature, including the expansion of nature-based tourism, which is an important source of economic growth in many developing countries. 

The report notes that ambitious targets, like the global effort to protect 30% of land and ocean by 2030, are achievable and play a crucial role in unlocking these benefits.  

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The China Dialogue

June 16, 2021
A lot of money is needed to prevent spiralling biodiversity loss; somewhere between US$598 billion and US$824 billion a year, according to the Nature Conservancy and Paulson Institute. The good news is that around half of that could be met with existing finance, redirected from activities that damage nature to those that enhance it.

The bad news is countries already agreed to do this in 2010, but most failed to even identify what subsidies they were promoting that caused problems, never mind reform them. The value of subsidies that harm biodiversity has been estimated to be five or six times higher than finance for promoting conservation and sustainable use of biodiversity.

The issue is still very much alive. The draft text of the Kunming agreement – the successor to the failed 2010 Aichi targets – includes a target to reform subsidies, and eliminate those that are most harmful to biodiversity so that incentives are positive or at least neutral for biodiversity by 2030. The EU’s 2030 Biodiversity Strategy published last year also supports phasing out subsidies that harm biodiversity.

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New York Times

June 13, 2021
President Biden joined with leaders of the world’s wealthiest nations on Sunday to take action aimed at holding down global temperatures, but failed to set a firm end date on the burning of coal, which is a primary contributor to global warming.

Mr. Biden and six other leaders of the Group of 7 nations promised to cut collective emissions in half by 2030 and to try to stem the rapid extinction of animals and plants, calling it an “equally important existential threat.” They agreed that by next year they would stop international funding for any coal project that lacked technology to capture and store carbon dioxide emissions and vowed to achieve an “overwhelmingly decarbonized” electricity sector by the end of the decade.

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Campaign for Nature

June 13, 2021
Today G7 Heads of State announced a joint commitment to a historic “Nature Compact” during their meeting in Cornwall, UK.  The Nature Compact is the most wide-ranging and ambitious set of coordinated actions to address the crisis facing nature ever agreed to by G7 countries. 

 Three of the Campaign for Nature’s key priorities feature prominently in the G7 Nature Compact, including:

• An agreement to support new global targets to protect and conserve at least 30% of global land and at least 30% of global ocean by 2030.  The agreement states that the nations will lead by example by effectively protecting and conserving the same percentage of their national land, inland waters and coastal and marine areas by 2030.   

• A commitment to prioritize the inclusion of Indigenous Peoples and local communities in co-design, decision-making and implementation of the systems change needed for the Nature Compact’s success.

• A pledge to dramatically increase investment in nature from all sources including the percentage of public climate finance directed towards nature.  

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BusinessGreen

June 7, 2021
Listed companies in the world's richest economies will soon have to publish comprehensive reports detailing the climate-related risks they are facing, after finance ministers from the G7 group of nations backed plans for mandatory reporting requirements.

In a move that will bolster hopes next week's G7 Summit and this autumn's COP26 Climate Summit could deliver significant progress for international efforts to tackle the climate crisis, Ministers issued a communique this weekend confirming plans to require banks and companies to disclose their exposure to climate-related risks.

Meeting in London ahead of the upcoming G7 Summit in Cornwall, Finance Ministers and Central Bank Governors finalised a major new agreement to tackle international tax avoidance, which included renewed support for the climate risk reporting guidelines proposed by the Taskforce on Climate-related Financial Disclosures (TCFD) back in 2017.

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Landscape News

June 1, 2021
The world must triple its investments in nature-based solutions by 2030 and quadruple them by 2050 in order to meet the climate change, biodiversity and land degradation targets of the three Rio Conventions, according to a new UN report.

Total investments of USD 8.1 trillion are necessary by mid-century to protect the landscapes and biodiversity that are essential to human life on Earth. This would involve a gradual increase in funding until an annual rate of USD 536 billion is reached by 2050. 

Currently, only USD 133 billion flows into nature-based solutions each year, which would create a shortfall of USD 4.1 trillion, the report said.

The State of Finance for Nature analysis was produced by UN Environment (UNEP), the World Economic Forum (WEF) and the Economics of Land Degradation Initiative to quantify existing investment in nature-based solutions and to estimate the funding needed to prevent systemic economic risks from the rapid loss of nature. 

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World Economic Forum

May 27, 2021
Unsustainable economic growth has had devastating consequences for ecosystems that are under threat from climate change, species extinction and water insecurity. And now it's time for a rethink of our relationship with nature.

Approximately $133 billion is invested annually in nature-based solutions (Nbs), according to a new report - State of Finance for Nature: Tripling investments in nature-based solutions by 2030 - from the United Nations and World Economic Forum.

Domestic government bodies are responsible for the largest proportion of today’s Nbs – $113 billion – aimed at protecting biodiversity and landscapes, and conducting activities like sustainable forestry. The private sector contributes a further $18 billion to fund sustainable supply chains and environmental offsets.

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