Nature-Based Solutions
The Context of Climate Activism and Policy
The escalating climate crisis, characterized by rising global temperatures, increasing ocean heat, and significant biodiversity loss, has intensified climate activism across public and private sectors. This activism has spurred innovation in policy, technology, and science, aiming to mitigate climate change impacts. Among these innovations, Nature-based Solutions (NbS) have emerged as a revolutionary approach in combating climate damage.
Nature-Based Solutions (NbS): An Introduction
Nature-based Solutions leverage the sustainable management and use of natural processes to address socio-environmental issues such as climate change mitigation, water security, and disaster risk reduction. NbS projects focus on restoring and conserving natural ecosystems to absorb carbon dioxide, thus rebalancing the Earth’s carbon cycle. These solutions include a variety of ecological restoration and conservation activities, such as reforestation, wetland restoration, and sustainable agricultural practices.
The Policy Framework: Paris Agreement and COP26
The 2015 Paris Agreement was a landmark international treaty in which 196 countries committed to limiting global warming to 1.5°C above pre-industrial levels. The recent COP26 summit in Glasgow reinforced these commitments with more precise and stringent measures, including a pledge to mobilize at least $100 billion annually in climate finance. Both agreements emphasize the urgent need to reduce greenhouse gas emissions by 50% by 2030 and achieve net-zero emissions by 2050.
The Role of the Private Sector
The private sector plays a crucial role in driving the voluntary carbon market, with numerous businesses and investors committing to significant climate pledges. Initiatives like the Science Based Targets Initiative (SBTi) and the Net-Zero Asset Manager Initiative highlight the responsibility of businesses to meet climate targets. Over 5,000 businesses and 200 asset managers, controlling more than $57 trillion in assets, have made climate commitments, fostering innovation and investment in NbS.
How Nature-Based Solutions Address Climate Change
Carbon Sequestration: NbS projects enhance natural carbon sinks by restoring ecosystems such as forests, wetlands, and oceans. For example, forests and mangroves absorb large amounts of CO2, while oceanic ecosystems like seagrass and coral reefs sequester carbon effectively.
Economic Efficiency: NbS offer cost-effective carbon sequestration, typically costing between $10-30 per tonne of CO2 sequestered. High-quality projects, which deliver strong environmental and social co-benefits, generate more valuable carbon credits and attract significant investment.
Co-Benefits: NbS projects provide extensive ecological and socio-economic benefits. They restore biodiversity, improve ecosystem services, and enhance resilience to climate impacts. Additionally, these projects support local communities by creating jobs, ensuring economic stability, and promoting sustainable land-use practices.
Examples of Nature-Based Solutions
Forest Restoration: Protecting and replanting forests to enhance carbon storage and biodiversity.
Wetland Conservation: Restoring peatlands and mangroves to absorb CO2 and protect coastlines.
Sustainable Agriculture: Implementing agroforestry and reducing harmful agricultural practices to improve soil health and carbon sequestration.
Ocean Ecosystem Restoration: Protecting coral reefs, seagrass beds, and other marine habitats to enhance their role as carbon sinks.
Projects adhering to recognized standards, such as the VERRA Climate, Community and Biodiversity (CCB) standard and the WWF Gold standard, ensure the delivery of high-quality and impactful NbS. These standards guarantee that projects provide significant environmental and social benefits, contributing to the United Nations' Sustainable Development Goals (SDGs).
Investment in NbS is expected to increase, driven by the growing recognition of their potential to achieve and exceed climate targets set by the Paris Agreement and COP26. By fostering sustainable and regenerative practices, NbS offer a promising path toward a resilient and habitable planet for future generations.
