FEATURED NEWS
Q&A: What progress has been made on protecting nature a year on from COP15?
Carbon Brief, Aruna Chandrasekhar, Daisy Dunne, Orla Dwyer, Yanine Quiroz and Giuliana Viglione, 31 January
Carbon Brief assesses the progress on the global agreement to protect nature decided last year at the UN COP15 biodiversity summit. The article digs into key individual nature issues and biodiversity updates since COP15 including: halting biodiversity loss, 30×30 conservation targets, finance, Indigenous rights and more. The article finds that while some progress has been made in certain areas, overall the world is failing to meet its pledges. Countries will gather at the next UN biodiversity summit, due to be held in Colombia this October, to take stock of progress since the deal was given the green light and submit new national plans outlining how they will protect biodiversity. Reuters reports that one positive development for conservation is an announcement that Brazil’s Amazon Fund for sustainable rainforest development received $640 million in new pledged donations from developed nations last year. Yet, of that total, $500 million was committed by US President Joe Biden and still requires approval by the US Congress. Reuters carries a commentary by Terry Slavin, editor-in-chief of Reuters Events Sustainable Business, covering why the next two-years will make or break battle to rescue tropical forests.
Extraction of raw materials to rise by 60% by 2060, says UN report
The Guardian, Arthur Neslen, 31 January
The Guardian shares a new UN Global Resource Outlook report that finds global extraction of raw materials is expected to increase by 60% by 2060 putting significant levels of nature and biodiversity at risk. Natural resource extraction has soared by almost 400% since 1970 due to industrialisation, urbanisation and population growth. The report emphasized the need to reduce overall demand rather than simply increasing “green” production to prioritize equity and human well being. Mongabay covers the expansion of gold mines in Nicaragua, despite crippling US sanctions, that are driving pollution and human rights violations against Indigenous communities.
Colombia, a Usually Wet Nation, Reels Amid Widespread Wildfires
The New York Times, Annie Correal and Genevieve Glatsky, 29 January
The New York Times reports on Colombia’s raging wildfires in the mountains around the country’s capital Bogotá, as dozens of other blazes have burned across the country. Officials are claiming that January 2024 has broken a nearly 30 year record for heat across the country helping drive the fires. Colombia’s fires this month are unusual in a country where people are more accustomed to torrential rain and mudslides than fire and ash. Fires have also broken out in neighboring Venezuela and Ecuador, including in an ecological preserve. Associated Press shares that fires have also spread across Chile leaving at least 112 people dead. The climate phenomenon known as El Niño is leaving South America much drier and hotter than normal contributing to droughts and more fires across the continent.
Six key questions the carbon market needs to resolve to deliver for nature – one year on [Commentary]
Carbon Pulse, Ed Hewitt, 30 January
Carbon Pulse carries a commentary from Ed Hewitt, Director of Natural Climate Solutions at Respira, following up on an article of his released a year ago asking six questions that carbon markets needed to resolve to support nature. In this update he assesses how the markets have evolved, or remained stagnant, in rebuilding trust and delivering on their potential for nature. His assessment shows there is still much work to be done across a variety of issues, but holds optimism for 2024 to be a positive year for markets advancing NBS. Separately, Ed published an article on LinkedIn about what Taylor Swift can teach us about carbon credits. Climate Home News reports that oil and gas major Shell offset some of its emissions with over a million credits from Chinese projects suspended because of integrity concerns. Accusations of low-integrity led carbon standard Verra to suspend the projects in question early last year and to launch an ongoing investigation, but Shell quietly counted over a million credits produced by the suspended projects in its emissions reporting.
Unlikely Allies Want to Bar a Brazilian Beef Giant From U.S. Stock Markets
The New York Times, Manuela Andreoni and Dionne Searcey, 31 January
The New York Times covers efforts by a bipartisan group of United States Senators to block JBS, the world’s biggest meatpacker, from being listed on the US stock market which would provide the company access to cheaper and more capital investments. The Senators are uniting behind this effort due to concerns over JBS’ track record of deforestation in the Amazon, but also over concerns about corruption settlements and its growing market share in the United States. Addressing the potential stock listing has brought unnatural allies together on the issue in the US where some do not regularly consider the environmental harm a more powerful JBS might pose. But in a letter sent to US agencies this month the Senators state, “Dozens of journalistic and NGO reports have shown that JBS is linked to more destruction of forests and other ecosystems than any other company in Brazil”.
SPOTLIGHT – Check out the Capital for Climate Newsletter
Interested in learning more about the finance-nature nexus and new investments in NBS? Capital for Climate, a B-Corporation focused on scaling investment in climate solutions produces a weekly newsletter covering deals and contextual information to help investors navigate the climate and nature-based solutions landscape. Check out their latest edition covering over $1 billion in new NBS and climate finance updates from the past week including:
- Global Environment Facility’s more than $1 billion in climate investments in 2024
- Tropical Asia Forestry Fund raises $130 million of a $300 million goal
- Cultivo receives $14 million to build out a pipeline of NBS carbon removal projects
For those working in the financial sector, and others who wish to understand the state of natural capital better, we encourage you to subscribe to their weekly newsletter.
COP28 – NATURE TALKS
FOR YOUR INFORMATION
EDF publishes a Natural Climate Solutions (NCS) Crediting Handbook, providing clear and impartial guidance on creating carbon credits for natural climate solutions.
EDF also posts a blog on progress to catalyze jurisdictional REDD+ programs.
The Nature Conservancy shares insights from its in-house impact investing team, NatureVest.
The Landbanking Group shares a new report proposing Nature Equity as a contract to fund nature protection, restoration and improvement. The contract, established between any land steward and any buyer, links a unit of biophysical nature preservation or uplift to a payment.
CEPR publishes a column arguing that adding natural capital in economic models is necessary for achieving environmental sustainability.
The White House releases the 2023 America the Beautiful report, its third annual report on the initiative, a decade-long, locally-led campaign to protect, conserve, and restore lands and waters.
Sylvera shares a whitepaper exploring what a convergence of voluntary and compliance carbon credit markets looks like, what it means for corporations, and how to take advantage of the opportunities this shift presents.
Caledonian Climate Partners Limited searches for consultants that have experience working in peatlands and ecosystem restoration in Scotland.
ICVCM seeks nominations for members of the Forum Governing Board from IPs & LCs worldwide. Independent members of the Governing Board will translate the interests of their region and communities, providing strategic guidance, views, proposals, taking collective decisions on the Forum Strategy, and providing direction on delivery to the Forum Secretariat.
Finite Carbon announces the launch of its digital Finite Carbon Marketplace, designed to foster a direct, transparent, and efficient connection between carbon offset buyers and high-quality forest carbon projects exclusively developed by Finite Carbon.
Nature4Climate shares stories from local communities in Indonesia working to protect and restore wetlands.
FOLU shares insights from its youth competition, Gen-Z for Sustainable Food Systems (GSFS), which aims to raise awareness of food system issues among youth and actively involve them in food systems transformation.
The Nature Conservancy shares a new paper by an international group of researchers, including scientists from The Nature Conservancy, that points to areas where conservation and sustainable management can provide 90 percent of nature’s contributions to people and meet biodiversity goals.
IUCN releases a new report on identifying and prioritizing wetlands for Ramsar Site designation in the Indo-Burma Region.
UN-REDD shares its progress on the development and initial testing of a Community Forestry Impact Monitoring Framework, which will generate information on whether or not desired impacts of community forestry are being realized, and why positive or negative results are being achieved.
WRI explains the Global Goal on Adaptation (GGA), which aims to provide a clear framework and targets that can guide global adaptation efforts and enhance support for adaptation in developing nations.
WWF shares insights on inclusive conservation, working in partnership with local communities who derive benefits from the ecosystems they steward.
HackTrends publishes a new report on 30+ startups measuring nature-positive impact through Monitoring, Reporting and Verification for biodiversity.
CASE STUDY
N4C is compiling an index of NBS case studies, together with an interactive map, to highlight action on the ground. Each week, we will be choosing a case study to present, to help give concrete examples of work being done to bring NBS theory into practice.
Kenya’s Tana Delta: maintaining biodiversity for people and ecosystems
WHERE: TANA RIVER DELTA, KENYA
TYPE OF NCS SOLUTION: MANAGE
The Tana River Delta in Kenya is one of the largest and most significant coastal delta ecosystems in Eastern Africa. In order to protect the outstanding diversity of nature here in the face of a changing climate and economy, this project supports local pastoral, agricultural and fishing communities to manage their wetlands and maintain water resources in a sustainable manner.
NUMBER OF THE WEEK – $640 million
The amount of money pledged to the Amazon Fund in 2023 for sustainable rainforest development.
GOOD NEWS
Pakistan bucks global trend with 30-year mangrove expansion
Around the world, mangrove forests have undergone a decades-long decline that is just now slowing to a halt. In Pakistan, by contrast, mangroves expanded nearly threefold between 1986 and 2020, according to a 2022 analysis of satellite data. Experts attribute this success to massive mangrove planting and conservation, as well as concerted community engagement. Many in Pakistan are looking to mangroves to bolster precious fish stocks and defend against the mounting effects of climate change — even as threats to mangroves, such as wood harvesting and camel grazing, continue with no end in sight.
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The Tana River Delta in Kenya is one of the largest and most significant coastal delta ecosystems in Eastern Africa. In order to protect the outstanding diversity of nature here in the face of a changing climate and economy, this project supports local pastoral, agricultural and fishing communities to manage their wetlands and maintain water resources in a sustainable manner.
Case Study