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In a year in which the devastating impacts of climate change were felt far and wide, a ray of hope was delivered by negotiators at the UN Biodiversity Conference, COP 15.
The final agreement, known as the Kunming-Montreal Global Biodiversity Framework,sets out a number of ambitious targets to protect and halt the destruction of the Earth’s ecosystem.
These include commitments to protect 30% of all land and oceans and restore 30% of degraded land by 2030 and to end human induced-species extinctions. Measures agreed also include a pledge to increase the flow of finance to developing nations to USD 20bn annually by 2025 and at least USD 30bn each year by 2030.
There was also recognition of the vital role non-State actors (NSAs) can and must play in implementing these commitments.
Indigenous peoples were recognised as some of Nature’s most powerful stewards, with the final text stating” Indigenous-led conservation models must become the norm this decade if we are to take real action on biodiversity”. In addition, large and transnational companies will be required to disclose “their risks, dependencies, and impacts on biodiversity”. If implemented, this could be the start of a significant change in business practices.
Similarly, a side event on ending commodity-driven deforestation highlighted how financial institutions are progressing on commitments made last year via the Finance Sector Deforestation Action initiative. Signatories agreed to eliminate this practice from their portfolios by 2025 and increase investments in nature-based solutions.
Furthermore, echoing the recent words of High-Level Champion for the COP27 Presidency of the UN Climate Change process, Dr. Mahmoud Mohieldin, the final text calls for “fundamental transformation of the global financial architecture and the reform of multilateral development banks and international finance institutions, including investment banks, to make them fit for purpose in supporting implementation of the global biodiversity framework, sustainable development and just transition efforts in developing countries”.
The issue of financial system reform was also placed front and centre at COP 27 through the Bridgetown Agenda proving that tackling the climate crisis and halting nature and biodiversity loss are deeply entwined and neither can be solved on their own.
Likewise nature was embedded in a number of climate initiatives at COP 27 in Sharm el-Sheikh. The Mangrove Breakthrough brought together governments and NSAs to mobilise USD 4 billion by 2030 to conserve and revitalise coastal ecosystems and protect 15 million hectares of mangroves globally. Additionally, investors and governments secured over USD 1 billion for the restoration of degraded lands in Africa through the African Forest Landscape Restoration Initiative (AFR100), a country-led effort to bring 100 million hectares of land in Africa into restoration by 2030.
Next year, the first Global Stocktake will conclude at the UN Climate Change Conference COP 28. This will provide key information for countries and NSAs to see what progress has been made on meeting the Paris Agreement goals, as well as identify any remaining gaps and opportunities for increased action.
Going into COP 15 we knew the Paris Agreement goals would be in serious jeopardy without significant action to protect and restore nature.
As Mirey Atallah, head of United Nations Environment Programme (UNEP) Nature for Climate branch, said: “Without protecting and restoring our ecosystems, we have no chance of achieving the Paris goals, getting to the 1.5C target or buffering the impacts of an already disrupted climate.”
Nature helps both mitigate against and adapt to the worst effects of the climate crisis. According to the Intergovernmental Panel on Climate Change (IPCC), managed and natural terrestrial ecosystems absorbed around one-third of anthropogenic CO2 emissions from 2010 to 2019.
As we near the end of 2022 and look ahead to the opportunities and challenges of a new year, the outcome in Montreal gives us cause for cautious optimism.
In the words of outgoing High-Level Champion for COP26, Nigel Topping: “We must not give up hope. Instead we must imagine better times ahead and unleash the incredible ingenuity of humankind.”
COP 27 outcomes
Across the two weeks of COP 27, the High-Level Champions and the Marrakech Partnership for Global Climate Action supported and delivered a wide range of actions, announcements, and events captured in the Summary of Global Climate Action at COP27.
This complements the key takeaways from COP 27, which includes establishing a dedicated fund for loss and damage, maintaining a clear intention to keep 1.5°C within reach, holding businesses and institutions to account, mobilizing more financial support for developing countries and making the pivot towards implementation.
Through the Sharm el-Sheik Implementation Plan, Parties recognized the important role of indigenous peoples, local communities, cities and civil society, including youth and children. While encouraging Parties and non-Party stakeholders to engage actively in the Marrakech Partnership for Global Climate Action, Parties also welcomed the leadership of the COP Presidency and the High-Level Champions, in particular in the context of the Sharm el-Sheikh Adaptation Agenda and the Breakthrough Agenda, and the convening of the five regional finance forums.
In addition, a mitigation work programme was established aimed at urgently scaling up mitigation ambition and implementation, encouraging the High-Level Champions to support the effective participation of non-party Stakeholders.
With respect to transparency and accountability, Parties welcomed the recommendations of the High-Level Expert Group on the Net-Zero Emissions Commitments of Non-State Entities launched by the United Nations Secretary-General and invited the UNFCCC secretariat to ensure greater accountability of voluntary initiatives.
A full list of decisions from COP 27 can be found here. To support the implementation of these decisions, Parties, observers and other non-Party stakeholders are invited to submit inputs to various calls for submissions.
Guidelines on how to submit inputs are available here. Watch this space for further details and information on opportunities for engagement in 2023.
Keeping up with the Champions
In Case You Missed It
For more news from across the Race to Resilience and Race to Zero Communities, check out climatechampions.unfccc.int and Marrakech Partnership for Global Climate Action/UNFCCC.
Mark your calendar
To those celebrating, we wish you a Happy Christmas and to all a peaceful New Year.
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