Bloomberg

September 28, 2022
Almost $1.9 trillion. That’s the amount Moody’s Investors Service says is at stake as biodiversity loss intensifies nature-related risks.

With financial markets currently under siege, concerns about biodiversity probably aren’t the first thing that comes to mind for panicked investors. But the long-term ramifications of a depleted natural world are potentially devastating.

High-risk sectors such as coal and metals mining, as well as oil and gas exploration and production, will likely face greater regulatory and investor scrutiny as every day passes. Companies that lack credible management strategies in this arena face the prospect of not only reputational damage, but also serious financial repercussions, Moody’s wrote in a 14-page report.

“Risks such as ecosystem health, biodiversity loss and natural resource management are rising up the policy and investor agenda,” said Rahul Ghosh, managing director of environmental, social and governance issues at Moody’s.

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UN

September 21, 2022
Following is the text of UN Deputy Secretary-General Amina Mohammed’s video message to the seventh Sustainable Development Goals (SDG) Business Forum, held virtually, today:

Excellencies, business leaders, ladies and gentlemen, thank you for joining the seventh SDG Business Forum.  This year’s event has provided a much-needed space for business leaders to share their experiences and insights to overcome our common challenges — from the COVID‑19 pandemic, to the war in Ukraine and its impacts on food, energy and finance, to the escalating climate emergency.

The private sector is an indispensable partner in promoting investment in sustainable development and mobilizing financing to achieve the 2030 Agenda.

Let me highlight two key messages from today’s discussions.  First, the business community should be a driving force to protect our global environmental commons, from climate action to ending pollution and restoring biodiversity.

Investing in biodiversity makes both environmental and economic sense.  Estimates by the World Economic Forum suggest that protecting nature and increasing biodiversity could generate business opportunities worth $10 trillion a year and create nearly 400 million new jobs.

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Reuters

July 13, 2022
You might have thought that when the pandemic brought tourism to a sudden halt, it would have been good for nature. Some areas overrun by tourists fell quiet, and animals roamed more widely, while trampled flora began to recover. But the impact on species and ecosystems wasn’t all positive.

“What we saw very clearly, when tourism had evaporated, was that people really started to wake up to how important the sector was,” suggests Anna Spenceley, an independent researcher and chair of a specialist working group on protected areas for the International Union for Conservation of Nature (IUCN).

“Conservationists realised: hang on … communities are no longer getting any benefit from (tourism). And now they're going to start hunting whatever we have tried to protect in our conservation area, because they've got no money coming in,” says Spenceley.

Coming out of the pandemic, conservation groups, governments and some tour operators are trying to promote a more sustainable approach to tourism, reframing relationships with nature to encourage biodiversity rather than degrade it.

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IFLR

February 21, 2022
While climate change concerns have so far dominated ESG thinking, awareness of nature risk is catching up fast and already being integrated into sustainability frameworks, according to sources. 

The biodiversity-related principal adverse indicators in the Sustainable Finance Disclosure Regulation, the planned update to the EU Taxonomy to incorporate biodiversity risk, the Network for Greening the Financial System's own biodiversity study group, along with the meteoric rise of the Taskforce on Nature-related Financial Disclosures (TNFD), represent well the momentum building behind regulatory attempts to transform nature risk awareness into concrete impact in financial markets. 

The World Economic Forum estimates that more than half of the world’s economic output ($44 trillion) is at least moderately or highly dependent on nature, meaning that if natural systems collapse, so will the world’s economic and financial systems. 

Due to the sheer scale of the risk – together with scientific studies that show the world has already entered the sixth mass extinction phase – sources say that considerations around nature or biodiversity risk, which have traditionally been excluded from financial decision making, can no longer be relegated to the margins. 

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Campaign For Nature

July 1, 2021
A  World Bank report released today argues that policies safeguarding nature deliver a long list of valuable benefits, including pollination, food provision and timber from native forests, that deliver a win-win for biodiversity and economies. The Economic Case for Nature finds that if the world fails to protect nature, we could lose $2.7 trillion in global GDP annually, with countries in Sub-Saharan Africa and South Asia particularly hard hit.  

Building off recent reports laying out the economic benefits of protecting nature and following a major proclamation by G7 nations that protecting nature is an urgent priority, the report uses a first-of-its-kind analysis to reveal the extent to which valuing and protecting nature is a key development issue.

It makes the case that nature-smart policies that preserve ecosystem service benefits would increase global GDP by $50-150 billion compared to business as usual and reduce the risk of ecosystem collapse and an associated potential reduction in GDP of 2.3%. Other reports have highlighted additional benefits of protecting nature, including the expansion of nature-based tourism, which is an important source of economic growth in many developing countries. 

The report notes that ambitious targets, like the global effort to protect 30% of land and ocean by 2030, are achievable and play a crucial role in unlocking these benefits.  

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Climate Home News

May 20, 2021
Germany has launched a $1 billion fund which aims to halt global biodiversity loss and provide long-term financial support for protected areas across three continents. 

The launch comes after countries failed to meet internationally agreed 2020 targets to prevent the destruction of plants and wildlife. 

The Legacy Landscapes Fund aims to mobilise enough funding from private and public donors to provide 15 years of financial support for 30 conservation areas. 

At a launch event on Wednesday, Germany’s finance minister Gerd Muller said the fund would “provide lasting, reliable core funding for at least 30 biodiversity hotspots in Africa, Asia and Latin America”. 

The German government and several private donors have invested the first $100 million in the fund which will be used for seven pilot projects in four African countries, Indonesia, Cambodia, and Bolivia. Funding will be used to pay park rangers, support local communities, fund surveillance and monitoring and maintain infrastructure. 

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Reuters

May 19, 2021
Germany helped launch a new billion-dollar fund on Wednesday to tackle rapidly depleting global biodiversity, as countries missed key land and marine conservation targets but prepare to ramp up efforts in the decade ahead.

Protecting biodiversity has risen up the global agenda, not least because scientists say the destruction of remote natural habitats facilitates the spread of diseases such as the new coronavirus to humans as they come into closer contact with other species.

The United Nations hopes to secure an agreement at the next Biodiversity Convention meeting in China in October to protect and conserve 30% of the Earth's land and water by 2030.

"The concept of '30 by 30' is quite a big political ask, but we need these kinds of targets because they are a perfect way to harness political will," said James Hardcastle, a conservationist at the International Union for Conservation of Nature (IUCN), referring to the campaign by its tagline.

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The Conversation

May 11, 2021
President Joe Biden calls climate change “the existential crisis of our time” and has taken steps to curb it that match those words. They include returning the U.S. to the Paris Agreement; creating a new climate Cabinet position; introducing a plan to slash fossil fuel subsidies; and announcing ambitious goals to cut U.S. greenhouse gas emissions.

But climate change is not the only global environmental threat that demands attention. Scientists widely agree that loss of wildlife and the natural environment is an equally urgent crisis. Some argue that biodiversity loss threatens to become Earth’s sixth mass extinction. But unlike efforts to fight climate change – which center on clear, measurable goals to reduce greenhouse gas emissions – there is no globally accepted metric for saving biodiversity.

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PHYS.ORG

May 4, 2021
Nature-based Solutions (NbS) could support transformative change in environmental sustainability—to address major societal challenges, including the climate crisis—according to a new paper from Oxford researchers.

But, the team warns, there must be a move away from the narrow framing of what nature can 'do' for society to an integrated approach, where solutions are understood as place-based, activated by people in partnership with nature.

This issue has real world implications for the way nature becomes an integrated part of the response to environmental challenges. For example, positioning the action of tree planting as simply a way to mitigate climate change, rather than a dynamic relationship between people and nature, is over simplistic. This is not conducive to transformative change and perpetuates a separation between people and nature.

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Reuters

April 8, 2021
Green debt swaps have the potential to spur accelerated action on climate change in developing countries, the head of the International Monetary Fund said on Thursday, pledging to present an option for such instruments by November.

IMF Managing Director Kristalina Georgieva said it made sense to address the dual climate and debt crises at the same time, and IMF members on Thursday had strongly backed the Fund taking a bigger role on the issue of climate risk.

“When we are faced with this dual crisis - the debt pressures on countries and the climate crisis, to which many low-income countries are highly, highly vulnerable - it makes sense to seek this unity of purpose,” Georgieva said.

“In other words, green debt swaps have the potential to contribute to climate finance. They have the potential to facilitate accelerated action in developing countries,” she told reporters after a meeting of the IMF’s steering committee.

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Bloomberg Green

March 21, 2021
Global businesses sourcing commodities such as cattle, soybeans or rubber stand to lose some $53 billion due to deforestation unless they take action.

In a survey of more than 500 global businesses, climate-disclosure platform CDP identified risks such as extreme weather, changes in consumer preferences, as well as market and reputational impacts from commodity-related forest loss. It would cost $6.6 billion in the coming years to address those risks, the London-based nonprofit said in a report Monday.

“The destruction of the world’s vital forests poses huge risks to the climate, nature, the economy, and also increases the risk of future pandemics,” Sareh Forouzesh, CDP’s associate director of forests, said in a statement. “There is a solid business case for companies sourcing commodities sustainably and taking steps to protect forests.”

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International Institute for Sustainable Development

March 8, 2021
The UK Government has published an independent review that provides a global assessment of the economic benefits of biodiversity and the costs of biodiversity loss, and recommends actions to simultaneously enhance biodiversity and deliver economic prosperity.

In 2019, the UK Government commissioned Cambridge University economist Partha Dasgupta to provide a global review on the economics of biodiversity. Following the publication of an interim report in April 2020, the final publication titled, ‘The Economics of Biodiversity: the Dasgupta Review,’ was issued ahead of the 15th meeting of the Conference of the Parties (COP 15) to the Convention on Biological Diversity (CBD). The publication’s formal launch, hosted by the Royal Society, took place on 2 February 2021.   

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UN News

March 2, 2021
The UN chief highlighted that the global economy increased almost fivefold in the past fifty years, but that growth was at a massive cost to the environment. 

“Nature’s resources still do not figure in countries’ calculations of wealth. The current system is weighted towards destruction, not preservation”, he said. 

“The bottom line … is that we need to transform how we view and value nature. We must reflect nature’s true value in all our policies, plans and economic systems”, Mr. Guterres urged, adding that by doing so, investment can be directed into actions that protect and restore nature. 

“The rewards will be immense”, he said. 

The call by the Secretary-General comes as countries convened at the UN Statistical Commission are set to deliberate a new statistical framework to measure economic prosperity and human well-being, which includes the contributions of nature. 

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Campaign For Nature

February 2, 2021
Destined to be as critically important as the Stern Review on the Economics of Climate Change, The Economics of Biodiversity: The Dasgupta Review was commissioned by the UK Chancellor of the Exchequer, and was released on February 2. 

The Dasgupta Review marks a major inflection point in global political economic discourse that puts forward a new economic paradigm in the same way that Adam Smith did in his time. The review calls for urgent and transformative change in how we think, act and measure economic success to protect and enhance our prosperity, and the natural world. As decision makers worldwide begin to rebuild economies in the wake of Covid 19, this Review should be a guide and catalyst for fundamental change.

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Thomson Reuters Foundation

November 30, 2020

[…] As the world faces increasingly frequent and severe shocks - from the COVID-19 pandemic to extreme weather linked to climate change - it will need to re-evaluate its priorities, from a focus on efficiency to the value of interconnectedness, he said.

That might extend as far as fundamentally rethinking how key planetary life-support systems - such as the fast-disappearing Amazon rainforest - are governed as a global resource, said Rockstrom, an earth scientist and leading thinker on resilience.

“If the Amazon rainforest crashes, we will lose jobs in Germany,” he said.

“It will create so much havoc in the climate system” as temperature increases accelerate and rainfall shifts, he warned.

“When something unacceptable happens in one corner of the planet, it sends invoices across the whole world,” he added.

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