10 | Nature Day special – is this the biodiversity breakthrough we needed?
Dec 9, 2023
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Special guests from Business for Nature and the FAIRR Initiative discuss the alignment of climate and biodiversity agendas. The podcast covers significant announcements, mobilizing action around nature-based solutions, and the financial risks faced by the meat and dairy sector. It also highlights the importance of policy implementation and upcoming events at COP28.
The COP28 summit witnessed significant announcements on aligning actions for climate and biodiversity, including joint statements and principles for nature-positive finance.
Businesses and investors need to prioritize nature-based solutions, sustainable finance, and investor engagement to transition towards a climate-aligned and nature-positive food system.
Deep dives
Nature theme and significant announcements at COP 28 in Dubai
COP 28 in Dubai focuses on the theme of nature, land use, and oceans. Several significant announcements related to this theme have been made at the summit, including the launch of the joint statement on climate, nature, and people, which aims to align actions domestically and internationally on the Paris Agreement and the UN biodiversity treaty. Multi-lateral development banks have published common principles for nature-positive finance, with the goal of scaling up investments that positively impact nature. However, negotiations on adaptations and the fossil fuel phase-out versus phase-down issue are lagging behind, raising concerns among observers.
Business for Nature and the FAIRR Initiative drive nature-based solutions and sustainable finance
The podcast features interviews with Eva Zabie, the CEO of Business for Nature, and Sajiv Mohancuma, a senior technical specialist for climate and biodiversity at the FAIRR Initiative. Business for Nature works to mobilize businesses and drive policy ambition towards achieving a nature-positive economy by 2030. The FAIRR Initiative is an investor network focusing on raising awareness of ESG risks and opportunities in the global food sector. Both initiatives emphasize the importance of nature-based solutions, such as regenerative agriculture, in addressing climate change and biodiversity loss. They also highlight the need for sustainable finance and investor engagement to accelerate the transition towards a climate-aligned and nature-positive food system.
Financial risks in the meat and dairy sector and the potential of plant-based food industry
The FAIRR Initiative's research reveals that climate change poses substantial financial risks to the meat and dairy sector, with potential losses estimated to reach billions of dollars by 2030. This emphasizes the need for investors to diversify their portfolios towards more environmentally sustainable food producers. The conversation also explores the potential of the plant-based food industry, which is considered to be less environmentally impactful and may offer more secure investment opportunities. However, both the meat and dairy sector and the plant-based food industry need to prioritize nature-positive practices and holistic solutions across the entire value chain to achieve long-term sustainability.
Importance of clear milestones and execution in achieving agri-food system transformation
The FAO's agricultural roadmap and the role of investors are highlighted as crucial in advancing climate-aligned and nature-positive practices in the food and agriculture sector. The agricultural roadmap provides clear milestones and markers for investors to align their portfolios and understand the climate risks and opportunities in the sector. Investors play a vital role in engaging with companies, pushing for good governance, and driving the execution of sustainability commitments. Governments also have an essential part to play by implementing regulations, incentivizing beneficial agricultural practices, and removing harmful subsidies to foster a level playing field for private investors and sustainable businesses.
A pivotal Nature Day at the climate summit sees Luke and Sarah analyse a flurry of big announcements regarding an alignment of the climate and biodiversity agendas, featuring special guests from Business for Nature and the FAIRR Initiative for investors.
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