N4C Weekly Brief: Nov 1-7
Briefing Room 09.11.23
Climate adaptation funding gap 50% higher than estimated, UN says
Reuters, David Stanway, 2 November
Reuters covers a new report from the UN Environment Programme that finds the gap in financing to help developing countries manage climate change is 50% bigger than previously estimated, now standing at $366 billion. Developed countries pledged in 2009 to provide $100 billion a year in climate finance to poorer nations, but have routinely failed to meet their commitments. The Economist digs into the question of whether COP28 will result in generating the finance needed to fund nature-based solutions at the scale needed to capture their full potential, citing Nature4Climate research that only “12% of national-level policies for climate and nature have clearly allocated budgets for implementation”.
How an American meat broker is fueling Amazon deforestation
Associated Press, Sasha Chavkin, 2 November
Associated Press and the Rainforest Investigations Network report Salt Lake City-based Parker-Migliorini International, better known as PMI Foods, has been one of the key suppliers and distributors feeding China’s hunger for beef – and the Amazon deforestation that it fuels. Over the past decade, PMI has shipped more than $1.7 billion in Brazilian beef – more than 95% of it to China, according to data from Panjiva, a company that uses customs records to track international trade. PMI gets more of its Brazilian beef from Brazil-based meat processing giant JBS SA, a company found to have bought more than 85,000 cows from ranches that engaged in illegal deforestation from just one Amazonian state it operates in.
The Guardian covers an investigation by Global Witness and Trase that finds the UK government has broken its promise to end imports of commodities associated with deforestation. Their analysis found that of the estimated total 20,400 hectares (50,400 acres) of deforestation linked to UK imports between November 2021 and July 2023, 8,800 hectares were estimated to be linked to palm oil, 3,470 hectares to soy, and 2,950 hectares to cattle products.
Crunch time for UN carbon body to deliver clarity on Article 6.4
S&P Global, Eklavya Gupte, 31 October
S&P Global digs into the ongoing negotiations over Article 6.4 of the Paris Agreement, the mechanism that will establish the criteria for carbon projects looking to participate in the global carbon market, ahead of COP28. The most contentious issues for the current Bonn meeting include requirements for methodologies, and recommendations for activities involving carbon removals. The UNFCCC shares a report on the outcomes of the negotiations where it claims consensus was achieved on key issues around social and environmental rights, and carbon emissions removal issues.
Forbes shares a commentary from Dee Lawrence, Co-Founder of Cool Effect, questioning whether critics of the voluntary carbon market are limiting the climate ambitions of the private sector. MIT Technology Review reports that carbon market criticism is leading to less demand for carbon credits. Bloomberg shares that Barclays Bank has reopened its carbon market desk to trade the value of carbon credits.
Big Oil is coming for dinner: Fossil fuels are entrenched across global food system, report warns
The Independent, Stuti Mishra, 1 November
The Independent covers a new report that finds some 15 per cent of fossil fuels used each year around the world are related to food production, transport, and storage – more than the carbon emissions of the EU and Russia combined. The report by the Global Alliance for the Future of Food and Dalberg Advisors is the first time that fossil fuels across the entire food supply chain have been analysed. Authors of the report warn against the fossil fuel interests attempting to embed their interests within food systems and limit action to decarbonize this sector, including limits on the expansion of sustainable agricultural practices.
This old-school building material could take over city skylines
The Washington Post, William Booth, 31 October
The Washington Post reviews the growing trend of turning to one of the world’s oldest building materials, timber, as a more sustainable material for construction as the world addresses climate change. Advances in mass timber construction, the use of compressed layers of wood to construct buildings larger than normal lumber could manage, have developers and investors seeing a new future for the use of wood in the building sector. Sustainably harvested timber has a lower carbon footprint than steel or concrete, and now building codes are being rewritten in Europe and the United States to accommodate big wooden structures.
SPOTLIGHT – People Trust Nature
Researchers have published a new study in the journal Global Environmental Change analyzing the sentiment of social media posts to assess preferred climate change solutions. The results show that climate solutions perceived to be aligned with nature have the highest shares of positive sentiments.
FOR YOUR INFORMATION
World Economic Forum’s Tropical Forest Alliance launches a pilot project to facilitate the trade of sustainably sourced soybeans from Brazil into the Chinese market. The deal, valued at more than $30 million, is the first soybean order in China with a clear “deforestation- and conversion-free (DCF)” clause.
Food and Land Use Coalition, in collaboration with over 80 organizations and individuals, releases an open letter calling for leaders at COP28 to integrate a food systems approach into the UNFCCC.
Carbon Growth Partners and Bloomberg publish a whitepaper on the future of the carbon market.
Profundo shares a report exploring the potential impact of reduced meat consumption on greenhouse gas emissions, land, and water use.
Climate Policy Initiative publishes a study on the state of global climate finance in 2023, covering current and future outcomes for the trajectory of climate finance flows.
Global Alliance for the Future of Food shares insights on the relationship between food systems and emissions, exploring trends on energy use in food production.
The Consumer Goods Forum releases a progress report on its action with the Forest Positive Coalition, which is committed to moving efficiently and quickly towards a forest positive future.
Pollination publishes a legal opinion arguing that Australian company directors have a duty under corporations law to consider their company’s exposure to nature-related risks.
Livestock Data for Decisions shares 35 datasets, 19 publications, and 15 visualizations exploring how livestock interact with different facets of environment and society.
Sylvera releases a webinar providing an overview of its report on the carbon credit market in 2023, highlighting where quality lies in the market and where critical opportunities are present.
SPOTT provides an update on the most impactful producers, processors, and manufacturers in the natural rubber sector on their public disclosure regarding the organization, policies and practices related to environmental, social and governance (ESG) issues.
Wildlife Works shares an official statement responding to a report from the Dutch NGO Somo that details allegations of sexual harassment at the organization’s Kasigau Corridor project.
Systemiq publishes a whitepaper arguing that companies need help financializing risk and monetizing opportunities in order to act on nature.
FAO releases its “State of Food and Agriculture 2023” report, focusing on the hidden costs and benefits of agrifood systems and providing a framework through which these can be assessed.
UNDP shares the 10 winners of the 14th Equator Prize for groundbreaking nature-based solutions to protect, manage and restore the world’s ecosystems.
World Resources Institute publishes five takeaways for companies seeking to set freshwater science-based targets to limit the use of freshwater resources and ensure a sustainable future.
IUCN releases its position paper for COP28, highlighting ten key messages in the lead up to COP28.
UNEP shares insights from the 2023 Adaptation Report, which finds that the adaptation finance needs of developing countries are 10-18 times as big as international public finance flows – over 50 percent higher than the previous range estimate.
WCS and COMIFAC announce a new partnership in the Congo Basin to effectively and equitably conserve 30 percent of marine and terrestrial areas.
Woodwell Climate Research Center releases a policy brief on solar geoengineering research and governance, arguing that responsible research is needed to inform decision-making regarding whether and how solar geoengineering should ever be considered for deployment.
WBCSD shares key findings from IEA’s “World Energy Outlook 2023” report and how they can impact business leaders.
World Resources Institute publishes key benchmarks for whether COP28 is successful, which include responding to Global Stocktake, transforming energy and food systems, building resilience, and delivering climate finance.
World Wildlife Fund and Boston Consulting Group release an analysis comparing a rapid transition to renewable energy to the current approach dominated by fossil fuels across key areas, including mining, air quality, water quality, ecosystems, biodiversity, human well-being, and area footprint.
Integrative Conservation shares a new study examining how nations can meet their Kunming-Montreal Global Biodiversity Framework commitments through protected area expansion.
FAIRR releases its 2023/24 protein producer index evaluating how the animal protein sector addresses ESG risks and opportunities.
Metabolic launches a white paper exploring how businesses can build off the proliferation of frameworks to connect the nature topic into core strategy, risk management, and financial performance conversation. A proposed five-step approach shows how businesses can integrate nature strategies and address nature-related business risks.
Government of Canada and Forests Ontario announced a new commitment to plant 31 million trees across the country through the 2 Billion Trees program. The Government of Canada will cover 50 percent of the project costs for this $123-million project and Forests Ontario will work with corporate supporters, partners, and donors across the country to contribute the balance.
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.
Lightning Point Shoreline Restoration
WHERE: BAYOU LA BATRE, ALABAMA (USA)
TYPE OF NCS SOLUTION: RESTORE
The Nature Conservancy’s Lightning Point Shoreline Restoration Project aimed to create diverse habitats to support a wide range of wildlife, while protecting this locally important waterfront area of this iconic town for fishing community culture. The shoreline was restored with a combination of “gray” and “green” restoration methods spanning 1 mile of overlapping, segmented breakwaters and jetties, 10,000 linear feet of tidal creeks, and about 40 acres of habitat.
NUMBER OF THE WEEK – $366 Billion
The potential gap in climate adaptation financing according to new analysis from the UN Environment Programme.