Natural Climate Solutions: Monthly News & Reports Summary
News stories from February 2021
- Digging into the complex, confusing and contentious world of soil carbon offsets. Can farmland soils deliver the climate benefits we all hope they can?
- Shades of REDD+: Corresponding Adjustments, Kyoto Protocol Nostalgia, and a Proposed Way Forward. Controlling realities through accounting is an illusion. It is essential to create multiple incentives for mitigation, including through voluntary carbon markets.
- Making Sense of Soil Carbon Sequestration in the Fight Against Global Climate Change. The UN estimates that up to 8.6 gigatons of CO2 (more than 20% of humanity’s current greenhouse gas emissions) can be sequestered every year in the soil.
- Carbon offsets gird for lift-off as big money gets close to nature. An expected dash by big corporations for offsets to meet their climate targets has prompted financial exchanges to launch carbon futures contracts to capitalise on what could be a multi-billion dollar market.
- A new beginning for the Amazon in US-Brazil dialogues. U.S. climate envoy John Kerry met last week with a delegation of Brazilian ministers to discuss collaboration on solving one of our most important climate challenges: protecting the Amazon.
- The Immense Potential Of Forests To Sequester Carbon. How much carbon could we eliminate from the atmosphere through better forest management? We sat down with two forestry management and carbon offset program experts to discuss this topic.
- Japan’s Inpex to buy 5 million REDD credits from Indonesian project. Japanese oil and gas firm Inpex has agreed to buy 5 million carbon credits over a five-year period from the Rimba Raya REDD project in Indonesia.
- Just 7 Commodities Replaced an Area of Forest Twice the Size of Germany Between 2001 and 2015. New analysis shows that just seven agricultural commodities — cattle, oil palm, soy, cocoa, rubber, coffee and plantation wood fibre — accounted for 26% of global tree cover loss from 2001 to 2015.
- Shell turns to forests and the earth to soak up its emissions. Royal Dutch Shell has set out plans to boost the use of nature-based carbon offsets to 120 million tonnes a year by 2030
- Defra unveils £10m fund for nature-based climate solutions. The UK Government has unveiled a new £10m fund to support nature-based projects that combat the climate crisis.
- Economics’ failure over destruction of nature presents ‘extreme risks’. The world is being put at “extreme risk” by the failure of economics to take account of the rapid depletion of the natural world and needs to find new measures of success to avoid a catastrophic breakdown, a landmark review has concluded.
- SBTi Net Zero Criteria: The Science-Based Targets initiative (SBTi) launched a consultation on their draft Net Zero Criteria. The (extended) deadline to submit comments to the SBTi 12 March.
- The Gold Standard have released two documents for consultation; Integrity for scale: Aligning Gold Standard-certified projects with the Paris Agreement and Treatment of Double Counting and Corresponding Adjustments in Voluntary Carbon Markets. The consultation is open to comment until 15 April.
- ART TREES: The Architecture for REDD+ Transactions (ART) launched a public consultation on version 2.0 of The REDD+ Environmental Excellence Standard (TREES). The comment deadline is 2 April.
- EU Soil Strategy: The European Commission has launched an online public consultation on the development of a new EU Soil Strategy. The aim of the new strategy will be to address soil- and land-related issues in a comprehensive way and to help achieve land degradation neutrality by 2030. The deadline to submit comments is 27 April.
Policy & Market Developments
- World Bank FCPF: The World Bank’s Forest Carbon Partnership (FCPF) has signed a $50 million Emission Reduction Purchase Agreement (ERPA) with Madagascar and a $45 million ERPA with Nepal. This marks 12 FCPF countries that now have ERPAs signed with the World Bank for a total contract value of over US$600 million
- Amazon Protection Plan: Policy Recommendations for U.S. Action for Amazon Forests. Climate Principals, February 2021
- Carbon dioxide removal: Nature-based and technological solutions. European Parliamentary Research Service, February 2021
- Global Forest Summit: Reforest’Action & The Open Diplomacy Institute are hosting the Global Forest Summit on 12 March. Registration details available here.
- World Bank, IETA and CDP NCS Workshop: IETA is co-organising a workshop with the Wordld Bank and CDP, Natural Climate Solutions: Unlocking Private Sector Finance for Sustainable Landscape Management on 16-18 March. Registration details available here and agenda available here
- Day 1: will explore financing instruments and approaches to facilitating private sector engagement. Add to calendar
- Day 2: will feature most of the IETA sessions and will focus on climate finance more deeply. Add to calendar
- Day 3: will highlight the role that companies must play in eliminating deforestation from the production of agricultural commodities. Add to calendar
- Reuters Events: Reuters is hosting the Natural Capital & Biodiversity Week from 15-19 March. Details and registration available here.
- IETA LIVE ICROA Event: As a part of IETA’s LIVE Series, ICROA is holding an event “Success stories of the VCM” on 24 March from 11:00 – 12.30 EST | 17:00 – 18:30 CET. Registration will be available soon.