What are nature-based solutions and how can we finance them?
Here’s why investment by G20 economies in nature-based solutions needs to double by mid-century to help prevent an environmental crisis.
On November 2 at COP26, the World Business Council for Sustainable Development (WBCSD) and 12 partners announced Regen10, an ambitious collective action plan to scale regenerative food production systems, worldwide, in a decade.
The initiative, with farmers at its heart, will work with over 500 million farmers to apply regenerative production methods and transform agricultural systems, as well as ensure roughly USD $60 billion per year is deployed to finance the transition. By 2030, it is hoped that over 50% of the world’s food can be produced in a way that drives positive outcomes for people, for nature, and for climate.
Regen10 will drive alignment and convergence of existing food and farming sector initiatives, and scale-up collective action, by bringing together farmers, along with businesses, investors, NGOs, and policymakers to accelerate system change. Through its interventions, Regen10 will play a key role in strengthening the agriculture and food systems’ contributions to the Paris Agreement, while halting and reversing nature loss, building resilience, and enabling farmers to earn decent incomes for the vital role they play as stewards of the land.
Diane Holdorf, Executive Vice President, WBCSD said: “Regen10 is designed to accelerate three critical interventions needed to scale a regenerative food system in a decade: give farmers a leading role, create alignment around definitions and metrics, and design and deliver pathways to regenerative food systems by redesigning the value chains for the highest impact food products in key regions and landscapes. WBCSD is excited to support alignment and implementation of standards, innovations and investments, together with its partners and members, that will maximize Regen10’s global impact.”
Regen10 will drive action in three areas that together can unlock system tipping points by 2025 and enable widespread scaling of regenerative systems by 2030.
In the next six months, Regen10 will mobilize the global farmer community and engage stakeholders across the food system to design a first wave of interventions that will be delivered by UNFCCC COP27. By 2030, Regen10 aims to have played a catalytic role in enabling:
Paul Polman, Co-Chair, Food and Land Use Coalition; Founder, IMAGINE said: “It is not possible to keep 1.5 alive, halt and reverse nature loss, or deliver the Global Goals, unless we act now to radically transform food production systems. Regenerative food systems hold the key. Farmers already have the solution, many of them have been doing it for years. What makes Regen10 so powerful is that it puts farmers at the centre of the transition, and brings together stakeholders, from across the system, to enable them.”
Initiative partners include: Club of Rome, Eastern Africa Farmers Federation, Food & Land Use Coalition, Future Stewards, International Union for the Conservation of Nature (IUCN), IMAGINE, OP2B, Sustainable Food Trust (Global Farm Metric), SYSTEMIQ, WBCSD, We Mean Business Coalition, World Bank Group, World Farmers’ Organisation. Further organizations and companies have expressed their support for the initiative and will be involved in delivering its 2030 ambition.
For further information on how you or your organization can get involved please contact: Regen10@folucoalition.com
Here’s why investment by G20 economies in nature-based solutions needs to double by mid-century to help prevent an environmental crisis.
Natural climate solutions are the key for the Race to Zero and the Race to Resilience. They can take us beyond net zero, to actually achieve drawdown. With all of the cascading benefits to people and the planet, it is clear that climate finance should support nature-based climate solutions, says Mamta Mehra, Senior Fellow, Land Use & Research Program Officer & Chad Frischmann, Senior Director, Drawdown Solutions, Project Drawdown
“Scaling up NCS is a crucial step if we are to address these challenges, reach net zero and facilitate the transition to a future where we live well, within planetary boundaries,” argues Giulia Carbone, Director, Natural Climate Solutions Alliance.
It’s Nature Day at COP26 and the message is beginning to ring louder that reversing nature loss by 2030 is a requirement for net zero by 2050.