Natural based Solutions (NbS)—conservation, restoration, and land-management actions that increase carbon storage and avoid greenhouse-gas emissions—is considered one of the key measures to curb the growth of greenhouse-gas emissions and the urgent need to slow the destruction of the natural world for the global economic recovery. In fact, as argued in a new paper produced by McKinsey in partnership with the World Economic Forum, there is no clear path to deliver climate mitigation without investing in nature to overcome the global economic recovery after COVID-19 pandemic.
Greenhouse gas emissions from agriculture, forestry and other land use contribute to about a quarter of global emissions, and it is estimated that Natural based Solutions (NbS) projects can help deliver around one-third of net emission reductions needed by 2030. The Natural based Solutions (NbS) are regarded as a powerful tool to fight against climate change, biodiversity loss and food security. Given that world is currently seeking to emerge from the current pandemic and work towards the UN Sustainable Development Goals, it is a question of prime importance that future investments in nature reach their potential by contributing to the health and well-being of people and the planet.
- Are focused on addressing current social challenges, enabling the achievement of local benefits for both sustainable development and effective biodiversity protection.
- Are actions aimed to achieve the protection, restoration or management of natural as well as semi-natural ecosystems. NbS also challenges the sustainable management of aquatic systems and land use, such as croplands or timberlands; also including the creation of novel ecosystems in and around cities.
- Are intended to underpin biodiversity, effectively responding to the real needs of local communities and indigenous people.
To sum up, company owners, investors and policy as well as decision makers are currently urging for NbS initiatives, being effective and scalable, also implying potential externalities. Private-sector commitment to climate action is gaining momentum, with companies increasingly adopting strategies aimed at reaching net-zero emissions and some pledging to invest in nature through the purchase carbon credits (or “offsets”) generated from Natural based Solutions (NbS), as part of the effort.