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Top of the COP: A Call for Nature

Nature is the planet’s greatest asset. Not just for its beauty, but the fact it’s integral to our survival.

Only by taking urgent action to halt and reverse the loss of nature this decade, can we hope to achieve the promise of the Paris Agreement. Since COP26, approximately USD 11 billion has been committed towards activities that support restoration and conservation of nature, including via the Forests Climate Leadership Partnership and AFR 100. But in reality trillions of dollars must shift from financing nature-depleting activities towards financing nature-positive activities.

Looking ahead to next month’s UN Biodiversity Conference, the message on Biodiversity Day is clear - we must do more to recognise nature’s fundamental role as part of the climate solution and catalyze concrete measures to protect and restore it.

Read on for more inspirational nature-based news.

Today’s Key Announcements

  • The COP27 Presidency launches the Enhancing Nature-based Solutions (NbS) for Climate Transformation (ENACT) in collaboration with the International Union for Conservation of Nature (IUCN). The aim is to drive collective action across climate, biodiversity and desertification to help close the finance gap for nature-based solutions. ENACT will serve as a hub for government and non-State actors to foster collaboration, accelerate action, facilitate policy dialogue and bring global coherence to activities. The partnership will ensure adherence to the NbS Global Standard.

  • The recently launched High-Quality Blue Carbon Principles and Guidance outlines what’s needed to create high-quality blue carbon projects and credits to ensure accountability, sustainability, and transparency in the marketplace. This is in response to the growing demand for blue carbon credits which has attracted many new actors. Coastal blue carbon ecosystems are valued at over USD 190 billion per year and are estimated to reduce costs associated with impacts such as flooding by over USD 65 billion annually.

  • Launch of Beat the Heat: Nature for Cool Cities Challenge. Cities in developing countries are invited to participate in the challenge by pledging to increase nature based solutions in their urban areas by 2030 and demonstrate tangible progress by 2025. Participants will be supported via funding, technical assistance, partnership opportunities, and communications support.

  • Belgium, Colombia, Germany, Ireland, Japan, the Netherlands, Norway, the UK and the US join the Global Offshore Wind Alliance (GOWA). The Alliance aims to be a global driving force for the uptake of offshore wind by bringing together governments, international organisations and the private sector to close the emissions gap and enhance energy security. The Alliance was founded at COP26 by Denmark, the International Renewable Energy Agency (IRENA), and the Global Wind Energy Council (GWEC).

  • The Sustainable Aviation Fuels (SAFs) Offtake Pocket Guide is launched by the World Economic Forum’s Clean Skies for Tomorrow initiative and the Sustainable Markets Initiative. The guide explains how businesses can help to decarbonize aviation by purchasing SAF for their corporate travel in order to signal demand and leadership while other business cases and long-term policy are developed. Leading companies and governments have set the goal for SAF to meet 10% of aviation’s fuel needs globally by 2030.

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