At Climategames we help our clients fund nature-based solutions, through the medium of exercise. These solutions include tree planting in Kenya, plastic removal in Indonesia and methane capture in Turkey, all of which are contributing to repairing and restoring the planet.
However, the conversation around nature-based solutions hasn’t always been straightforward, so let’s dive in.
What are nature-based solutions?
Nature-based solutions harness natural processes and ecosystems to address challenges such as climate change, environmental degradation, and biodiversity loss.
Instead of relying solely on engineered or technological interventions, nature-based solutions leverage the benefits provided by already-established natural ecosystems to create sustainable and resilient outcomes for both people and the planet.
Examples of nature-based solutions include reforestation, mangrove and coral reef protection, and sustainable agriculture.
What do the authorities say about funding nature and emission avoidance projects?
UN Race to Zero
The Race to Zero says that funding to protect and restore nature is an “essential action for business leaders.” The UN Race to Zero, together with the Exponential Roadmap Initiative, advise that companies adopt a 4 pillar approach for climate strategies as follows:
· Reducing a company’s own emissions and impact on nature;
· Reducing the emissions and impact of nature from within the supply chain;
· Providing and scaling solutions to support customers and society to avoid and reduce their emissions;
· Accelerate climate action in society through the influence of policy, industry collaboration, sharing best practices and funding projects which “protect and restore nature, store carbon and avoid emissions in society.”
Science Based Targets Initiative
The Science Based Targets Initiative recommends that all companies take action to deliver ‘Beyond Value Chain Mitigation’ (BVCM) as they transition to net zero. BVCM is a mechanism through which companies can help accelerate the global net zero transformation by taking action or investing in activities which avoid, reduce, remove and store greenhouse gases from the atmosphere, and projects which help to protect and restore nature.
The SBTI Net Zero Standard has four pillars:
· Near term targets
· Long term targets
· BVCM
· Neutralisation of residual emissions
It’s vital that BVCM and neutralisation do not replace or delay a corporate decarbonisation plan, but they are crucial factors of a holistic net zero strategy, and contribute to meeting global sustainable development goals.
UN Sustainable Development Goals
The UN Sustainable Development Goal 15 “Life on Land” aims to “protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss.”
According to the World Bank’s annual “State and trends of Carbon Pricing 2024” report, the market value of nature and carbon-based projects will grow from 2 Billion USD in 2024 to somewhere between 15 - 47 Billion USD by 2030, the range dependent on the speed of advancement of technologies in this space. This projection reflects the increasing urgency to decarbonise industries at the same time as protecting and restoring the natural environment – doing one without the other would be working against our greater goals.
Is there any doubt?
The landscape around nature-based solutions has been criticised because of accusations of greenwashing, accountability issues, land use conflicts, biodiversity impacts, and governance challenges. To be effective, nature-based solutions need to be implemented with careful consideration of local ecological, social, and political contexts, and should not be used as a substitute for the systemic changes needed to address climate change.
Climategames is steadfast in its commitment to transparency and authenticity in environmental claims and we firmly reject the practice of greenwashing, delivering on our promises without embellishments. All our projects are well-vetted to ensure their credibility and viability, and we provide certification to this end.
Climategames funds internationally certified projects which can be used as part of BVCM and neutralisation and we do this unashamedly with the knowledge that this investment is critical as a partner to decarbonisation if we are to have any chance of meeting net zero goals globally.
We also focus our efforts on supporting projects in regions which are suffering some of the worst effects of climate change. In our view, these are the places that need our help the most. We also prioritise projects which have a lasting social impact too, by supporting local community education, jobs and livelihoods. Giving people the best chance to be more resilient to the effects of a degrading planet and contribute to reversing the situation.
Thus, when done through a trustworthy and diligent outlet like Climategames, funding nature-based solutions can be instrumental in accelerating a company’s net zero transformation and enabling individuals to take climate action and help restore our natural environment.
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