BNDES and Climate Facility Workshop on how to mainstream Nature based Solutions within IDFC and NDBs business27 June 2022
It is widely recognized that Nature-based Solutions, if properly and effectively implemented, can provide over one-third of the cost-effective climate mitigation needed between now and 2030 to stabilize warming to below 2 °C (PNAS, 2017). However, much less attention has been given to the role that nature can play in helping people adapt to the adverse impacts of climate change At both the international and national levels, financial mobilization to invest in Nature-based Solutions for Adaptation remain limited and insufficient.
The promotion of Nature-based Solutions for Adaptation at scale faces 3 main obstacles:
- The concept of Nature-based Solutions for Adaptation (alternatively known as Ecosystem-based Adaptation or EbA) is an evolving concept that has been in development for more than 10 years and there have been multiple interpretations of how the concept is applied, which has caused confusion. There is a need to build a common understanding on how to use nature to reduce vulnerability to climate change and increase awareness among those in charge of public policies, public and private expertise providers, public and private financiers (investors, banks, etc.) etc. It is thus necessary to deliver information on competences and capacity building at larger scales.
- There are still scientific and technical uncertainties with respect to the solutions proposed versus different climate risks and hazards. It is necessary to identify which Nature-based Solutions are the most appropriate with respect to the different categories of climate issues and measure their efficacy in combination with other solutions; and
- The concept still needs to be proofed at scale over time. Pilot projects can provide useful guidance on emerging best practices to embed those successful methodologies and approaches in larger scale operations to ensuring a smooth mainstreaming within the portfolios of the concerned actors.
IDFC as a club of the biggest National Development Banks may play a role in supporting the scaling up of Nature-based Solutions for Adaptation within their constituency.
This workshop aimed the following objectives:
- To build a common understanding and framework for applying Nature-based Solutions for adaptation (called also EbA),
- To exchange on the updated scientific knowledge,
- To take stock on the international agenda and on past and current operations,
- To discuss the role IDFC and NDBs may play in cooperation with the main stakeholders to foster and mainstream EbA
- To elaborate and develop an initiative to proof the concept at a large scale.
Scheduled back-to-back to the next IDFC Steering Group Meeting this workshop was organized by BNDES and the Climate Facility with the participation of IDFC members and several partners: WWF, Oxford University, UICN, GEF, French GEF, GCF, SANBI, IKI and UNEP
- Panel 1 : What are Nature-based Solutions and how can they be deployed to help society adapt to climate change? Application in climate change: mitigation and adaptation Climate Strategy Implementation
- Panel 2 : State of the evidence for Nature-Based Solutions. Where is more research needed? Examples of concrete operations – approaches, methodologies, sectors, successes and failures (examples from international and national public agencies, MDBs, IDFC/NDBs, NGOs, private sectors.
- Panel 3: How to mainstream NCS within NDBs business while ensuring highly positive outcomes, outputs and Impacts (climate, biodiversity, social, poverty, gender)
- Panel 4: Financing NbS: Emphasis on sector priorities and finance as means to mainstream.
- Wrap up session:
- Part 1. Overview, challenges & opportunities
- Part 2. The way forward – 4 main steps to take ahead of COP 27
- Keynote speech by Climate Facility
- Closure of the workshop by BNDES
- To raise awareness among IDFC members on the EbA concept,
- To set up an operational taxonomy,
- To set up specific targets,
- To link EbA with other important topics like just Energy transition,
- To set up a coalition to promote EbA investment among Bank industry and private sectors,
- To organize an event during the COP 27 to communicate on the initiative