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Why partnerships are key to bridging the finance gap for nature-based solutions to climate change

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By illuminem briefings

· 2 min read

illuminem summarizes for you the essential news of the day. Read the full piece on Reuters or enjoy below

🗞️ Driving the news: The record-breaking warmth of the summer in 2023 underscores the urgency of tackling climate change
• Nature-based solutions (NbS), including ecosystems like forests, can play a vital role in addressing this challenge

🔭 The context: Forests and ecosystems not only offer a buffer against climate change but also account for about 55% of global GDP and house approximately 80% of the world's terrestrial biodiversity
• The business potential for NbS is significant, with the potential to harness $3.6 trillion annually and 191 million jobs by 2030

🌎 Why does it matter for the planet: Although nature holds such significant potential, there's a vast financing gap
• An estimated $11 trillion is essential between 2022 and 2050 to achieve ambitious climate change, biodiversity, and land-degradation targets

⏭️ What's next: The Forest Investor Club (FIC), initiated by the U.S. Department of State in 2021, aims to triple global NbS investment by 2030, with a major increase by 2025
• They prioritize collaboration and uphold guiding principles for effective and ethical investment strategies

💬 One quote: "Natural capital underpins the health of communities, businesses and economies all over the world, and it is critical to grow the scale, increase the pace, and expand the geographic scope of investments that enhance it" (Ryan Whisnant, Director of Land Use Finance at World Business Council for Sustainable Development)

📈 One stat: Nature-based solutions could provide up to 37% of the cost-effective climate change mitigation needed by 2030 to stabilize global warming to under 2 degrees Celsius

Click for more news covering the latest on ESG

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