Natural Climate Solutions: Monthly News & Reports Summary

News stories from May 2021

• Nature funding must triple by 2030 to protect land, wildlife and climate. Global annual spending to protect and restore nature needs to triple this decade to about $350 billion by 2030 and rise to $536 billion by 2050, a U.N. report has said, urging a shift in mindset among financiers, businesses and governments.
• Shades of REDD+: ART, JNR or GCF… Which is Best for Countries? Carbon finance is growing and countries are faced with an array of choices—including whether to pursue projects, nesting or jurisdictional REDD+, which standards to use in doing so, and what finance opportunity to pursue. The landscape can be a confusing array of options.
• Nature-based solutions can help cool the planet — if we act now. Analysis suggests that to limit global temperature rise, we must slash emissions and invest now to protect, manage and restore ecosystems and land for the future.
• Force of Nature – Mapping Forest Regeneration Hotspots. The Trillion Trees map of Regeneration Hotspots reveals an estimated 58.9 million hectares of natural forest have grown back since 2000. What’s driving these areas of recovery? How can we encourage future regeneration? And how can you play your part?
• New UK-based joint venture targets nature-based carbon offsets. Commodity traders Hartree Partners and sustainability firm Systemiq have launched a joint venture designed to help clients buy carbon credits from high-quality nature-based offset projects.
• A market review of nature-based solutions: An emerging institutional asset class. This report maps investments in nature taking place around the world. It provides insights on the state of this evolving market and the key barriers to uptake.
• Government funding boost for plans to deliver tree-planting to an area the size of Devon. The UK Government confirms £30m of new investment in a range of projects designed to enhance natural carbon sinks. Around 750,000 hectares is set to be forested across the UK over the next 25 years.
• A fair transition for farming. Reforming our farming system is of critical importance if we are to rise to the challenge of the nature and climate crises.
• Collective action is critical to end deforestation. The dual crises of climate change and biodiversity loss cannot be solved without stopping tropical deforestation.
• Protected Planet Report 2020. The 2020 edition of this biennial landmark report provides the final report on the status of Aichi Biodiversity Target 11, and looks to the future as the world prepares to adopt a new post-2020 global biodiversity framework.

Recent consultations   

• TSVCM Phase II: The Task Force on Scaling the Voluntary Carbon Markets (TSVCM) launched a consultation on its Phase II deliverables on 21 May. The consultation contains three documents, a main Public Consultation Report, a Governance Terms of Reference (TOR) and call for engagement, and a technical appendix. Comments will be accepted until 21 June 2021. 
• ART Consultation for Updated HFLD Approach. The Secretariat of the Architecture for REDD+ Transactions (ART) has launched a public stakeholder consultation for a revised version of the High-Forest, Low-Deforestation (HFLD) crediting level approach for Version 2.0 of The REDD+ Environmental Excellence Standard (TREES). The consultation will be open until 23 June 2021.
• GCF Draft Sectoral Guide on Forests and Land Use: The Green Climate Fund (GCF) launched a consultation on the draft sectoral guides they have developed, including the Draft GCF Sectoral Guide on Forests & Land Use. See the recording and presentation materials from the introductory webinar held on 28 April. The deadline to submit comments is 25 June 2021. 

Policy & Market Developments  

• World Bank FCPF: On 12 May, the Forest Carbon Partnership Facility ERPA with the Dominican Republic was signed, for US$25 million. This marks 14 FCPF countries (Chile, Costa Rica, Côte d’Ivoire, DRC, Fiji, Ghana, Indonesia, Laos PDR, Madagascar, Mozambique, Nepal, Republic of Congo, Vietnam and Dominican Republic) that now have ERPAs signed with the World Bank for a total contract value of nearly $670 million.
• HSBC unveils $100m WWF/WRI partnership to fund climate start-ups. The Climate Solutions Partnership will focus on start-ups addressing biodiversity and transitioning energy growth to renewables in Asia.
• UNEP Data Reporting Tool: The UN Environment Programme (UNEP) Data Reporting Tool (DaRT) allows Parties to multilateral environmental agreements to facilitate monitoring of progress toward the global goals and targets to which National Biodiversity Strategies and Action Plans are mapped. DaRT also brings together information from other tools and information sources – such as the Biodiversity Indicators Partnership

Recent Reports