Finding solutions in nature for climate change
On the International Day of Biological Diversity, IIED hosted a multi-stakeholder webinar on how to work with nature to mitigate and adapt to climate change and halt biodiversity loss. IIED senior researcher Xiaoting Hou Jones chaired the event, and here she shares some highlights from the discussions.
One key message from the webinar was the urgent need to tackle climate change and biodiversity loss together.
Alex White, team leader for International Climate and Strategy at the UK Department for Environment, Food and Rural Affairs (DEFRA), summed up the urgent need. He said: “We need to develop approaches that reflect the complexity and scale of the challenges and work for climate, nature and people. Nature-based solutions (NbS) are part of the solution.”
This resonates strongly with the increasing global support from scientists, governments, private sector and civil society for integrated solutions such as NbS for climate change.
The discussions also pointed to the multiple social, environmental, and economic benefits provided by NbS to climate change. A wide range of stakeholders, especially vulnerable local communities, can enjoy the benefits of NbS, making these solutions more attractive than their grey infrastructure counterparts.
Mobilising finance for NbS for climate change
Innovative financing to get money where it matters is one of the most important building blocks for NbS. Chip Cunliffe, sustainable development director for multinational insurance company AXA XL, highlighted the need for blended finance from public and private sectors. He said: “It is key that we start to build the right narrative that highlights the values of natural capital to engage possible investors and try to drive down existing barriers for financing NbS at scale.”
Cunliffe established and manages AXA XL’s Ocean Risk Initiative. AXA XL co-chairs the Ocean Risk and Resilience Action Alliance, a multi-sector collaboration designed to drive 500 million dollars investment in NbS in coastal regions by 2030.
Alliance partners are piloting innovative finance products to fund NbS at scale. These include blue carbon credits; resilience credits that allow companies to invest in restoration and conservation to reduce climate risks; corporate bonds where corporates can borrow money to manage and maintain natural capital while providing benefits for biodiversity and local communities; and insurance products that explicitly integrate natural capital and incentivise working with nature to mitigate climate risks.
Participants also shared other financing models and emphasised the importance of finance reaching local communities, which are bearing the brunt of climate change impacts and are key for implementing NbS. Examples include: educating consumers and creating demand for diverse eco-friendly products, leveraging forest carbon market to support local communities to sustainably manage forests in Tanzania, and utilising lottery funds to mobilise local communities to implement NbS in the city of Bath in England.
Indigenous peoples and local communities in the driving seat
Indigenous communities around the world have been working with nature to adapt to changes for hundreds of years and are effective stewards of biodiversity and natural carbon sinks such as forests. Musonda Kapena, CEO of the Zambia National Forest Commodities Association (ZNFCA), said indigenous knowledge systems can provide useful lessons on how to effectively design and implement NbS. ZNFCA has been working with traditional leaders in Zambia to mobilise communities at landscape scale to sustainably produce a wide variety of forest and agriculture products.
ZNFCA is one of many forest farm producer organisations around the world supported by the Forest and Farm Facility, a partnership between FAO, IUCN, IIED and Agricord. Producers’ organisations such as ZNFCA can mobilise 1.5 million smallholder producers at scale, to drive a paradigm shift away from large-scale monoculture production systems that are vulnerable to climate change.
In supporting local communities working with nature to build more resilient local economy, these locally placed organisations can also support its members to respond and recover from COVID-19 and climate-related risks.
Webinar participants highlighted the importance of building local capacity to access finance, communicate and share knowledge in ways that capture benefits that matter to local communities, and to ensure secure land and natural resource use rights for indigenous peoples and local communities. Participants shared examples of how they work with local communities to champion NbS around the world, including in Scotland, Mali, Bermuda and Latin America.
Increasing global ambitions to build back better from COVID-19
Many participants pointed out that the COVID-19 pandemic has brought sharp focus on societal vulnerability to systemic and multidimensional risks such as climate change and biodiversity loss. To build back a more resilient society, governments need to ensure global recovery responses tackle climate change, biodiversity loss and protect the most vulnerable.
Sarah Nelson, head of policy oversight in the international environmental conventions team in DEFRA, highlighted the UK government’s efforts to increase the focus on the interlinkages of nature and climate and push for global ambitions for a green recovery. She said: “Nature will be one of the key themes for COP26 hosted by the UK government. The UK government recognises to achieve success either on tackling climate change or biodiversity loss, we have to tackle both simultaneously.”
Nelson, who is leading on UK government’s nature theme for the next UN climate summit, said it recognises the important role NbS can play in building back better from COVID-19 (paywalled article). She said that in the lead-up to COP26, the UK aims to develop a ‘nature action pledge’, enabling countries to pledge concrete actions on nature and climate, providing a clear bridge between climate and biodiversity conventions.
Another immediate opportunity to increase global ambitions on NbS is the post-2020 biodiversity framework, currently being negotiated by parties to the UN Convention on Biological Diversity. Speakers called for close engagement with local communities and the finance sector in developing the framework and ensuring effective implementation mechanisms that can mobilise actions to achieve targets.
"We all need to act!" urged Musonda. As participants from all over the world representing private sector, NGO, communities, government and academia shared inspiring examples and called for close collaboration across sectors and countries, I left the webinar feeling hopeful and inspired for a future where integrated solutions like NbS is the norm rather than the exception.
Resources from this webinar
View the speaker presentations on IIED's SlideShare channel: