An Eye on the Nature-Climate Nexus
Recognition of the role of nature in tackling the climate crisis is growing.
Nature-based solutions were referenced for the first time in a decision cover text at the COP27 climate summit in Sharm El-Sheikh. Nature also features in all the mitigation pathways to net zero as identified by the Intergovernmental Panel on Climate Change, and multiple reports and reporting frameworks have also highlighted how healthy, functional ecosystems are key for many economies and societies.
Discussions on the nature-climate nexus are expected to continue at COP28, which will be held in Dubai in December 2023.
Organised ahead of COP28, “Outlook on Climate and Nature for Asia” aims to build regional capacity on upcoming issues of concern for Asia, as well as promote the development of new partnerships and collaborations that could help in the development of solutions to address the twin planetary crises of climate change and biodiversity loss.
Three Thematic Pillars:
Biodiversity Credits
The rise of the carbon markets could help natural habitats in Southeast Asia pay for itself, but uncertainties involved in quantifying carbon in certain ecosystems could stymie the protection of ecologically rich areas as carbon projects. Biodiversity credits could help to plug this loophole, but the development of such a system is fundamentally different from the carbon market. What is the future of biodiversity credits for companies, and how can science help to plug existing knowledge gaps?
The Ocean Economy
Growth in the renewable energy and carbon services sectors could help countries in Southeast Asia grow their economies in a less extractive way, enabling them to benefit from the global transition away from fossil fuels. But Southeast Asia is also home to long coastlines and biodiversity-rich seas, which could also open new opportunities in the blue economy. What are some ways that ASEAN could benefit from new opportunities in the ocean space, and what are some innovative new financing tools to help reduce risk for investors in this space?
Compounding Risks of Nature Loss and Climate Change
Climate change and biodiversity loss are each associated with a set of challenges to societies and economies, but the interconnectedness of the twin crises is causing new risks to emerge. These changes pose direct threats to human populations, including public health, socio-economic stability and critical infrastructure. This panel will flesh out the emerging risks at the nature-climate nexus specific to Southeast Asia, and the steps that must be taken to mitigate this.
