New Initiative Supports Nature-Based Infrastructure for Climate Adaptation
The new global initiative, supported by the GEF-managed Special Climate Change Fund, will use financial modelling and climate change projections to establish the business case for investing in nature and make it easier for investors and government officials to assign a value to nature-based solutions when making infrastructure spending decisions.
The project will equip decision-makers with comprehensive, system-wide valuations of natural assets, reflecting capital and operating costs as well as co-benefits from carbon sequestration, air purification, protection against water scarcity, and climate change adaptation, plus cost comparisons with grey infrastructure alternatives.
This is important, as many decision-makers currently lack the tools to directly compare green or hybrid infrastructure solutions with alternatives, for instance when making decisions about flood control, food security, coastal protection, water conservation, and wastewater treatment. Such infrastructure planning and spending decisions will be critically important in the coming years as countries plan their recovery from the COVID-19 pandemic and work toward more ambitious climate change, biodiversity, and other goals and frameworks.
“We are proud to support this venture, which will address the critical evidence gap that investors and project developers currently face as they evaluate whether to invest in nature and nature-based infrastructure,” said GEF CEO and Chairperson Naoko Ishii. “Making this information more readily available will be a game changer for those making long-term decisions about infrastructure investments for economic recovery and development.”
The MAVA Foundation, a philanthropic organization working to conserve biodiversity for the benefit of people and nature, is partnering with the GEF and has pledged to provide USD 2 million in co-financing to scale up the impact of the project, which will be implemented by UNIDO and executed by IISD.
The project, which will use data from the EU’s Copernicus Climate Change Service, will also include a public online database making information on the valuation and performance of nature-based infrastructure available to a wide variety of project partners and stakeholders.
“Nature is part of the fundamental infrastructure on which thriving societies and economies depend. Despite its regenerative capacity, natural infrastructure—like built infrastructure - needs maintenance and therefore investment. This project will demonstrate that investing in maintaining and restoring our natural capital provides solutions to societal problems—above all to the adaptation to climate change. Most importantly, the training and capacity development offered will scale the project impact far beyond the concrete case examples,” said MAVA Foundation Director General Lynda Mansson.
"Our aim for this project is to consider social, economic, and environmental factors to demonstrate the system-wide case for investing in large-scale nature-based solutions,” said IISD President and CEO Richard Florizone. “Natural ecosystems like forests, mangroves, wetlands, and grasslands provide a range of ‘services’ that can complement and even substitute for built infrastructure. The strong evidence base we build through this unique partnership will help all market participants confidently invest in nature."
“In line with UNIDO’s mandate to promote inclusive and sustainable industrial development, we actively cooperate with private sector entities to further environmental stewardship approaches. This project will allow us to quantify the positive impact of stewardship activities on ecosystems as well as to demonstrate the cost efficiency of nature-based infrastructure. It will also allow us to highlight the economic value of the positive externalities provided by nature-based infrastructure to our partners in governments and international finance institutions. Thus, the project will have a catalytic impact on UNIDO’s efforts to up-scale public-private partnerships on environmental stewardship as required for a transformational change in climate change adaptation,” said UNIDO Managing Director Stephan Sicars.
The new project is an example of the GEF’s ongoing commitment to help countries and partners make wise investment decisions related to nature-based solutions and climate resilience, and reflects the Special Climate Change Fund’s focus on supporting innovative and impactful adaptation solutions. It will also support the Global Commission on Adaptation’s call to scale up action on nature-based solutions for adaptation.
For more information, please contact:
Laura MacInnis, GEF Senior Communications Officer, [email protected]
Zahra Sethna, IISD Director of Communications, [email protected]
Holger Schmid, MAVA Foundation Program Director, [email protected]
Christian Susan, UNID Communications Officer, [email protected]
About the GEF
The Global Environment Facility was established on the eve of the 1992 Rio Earth Summit to help tackle our planet’s most pressing environmental problems. Since then, the GEF has provided more than USD 20 billion in grants and mobilized an additional USD 112 billion in co-financing for more than 4,800 projects in 170 countries. Through its Small Grants Programme, the GEF has provided support to nearly 24,000 civil society and community initiatives in 133 countries.
About the SCCF
The Special Climate Change Fund was established in response to guidance from the Conference of the Parties (COP7) in Marrakech in 2001. The SCCF complements the Least Developed Countries Fund (LDCF), another GEF-managed trust fund focused on climate change adaptation. Unlike the LDCF, the SCCF is open to all vulnerable developing countries. In addition, it funds a wider range of activities related to climate change with a specific focus on innovation. To date the SCCF has a portfolio of more than USD 350 million supporting 85 projects globally.
The International Institute for Sustainable Development (IISD) is an award-winning independent think tank working to accelerate solutions for a stable climate, sustainable resource management, and fair economies. Our work inspires better decisions and sparks meaningful action to help people and the planet thrive. We shine a light on what can be achieved when governments, businesses, non-profits, and communities come together. IISD’s staff of more than 120 people, plus over 150 associates and consultants, come from across the globe and from many disciplines. With offices in Winnipeg, Geneva, Ottawa, and Toronto, our work affects lives in nearly 100 countries.
You might also be interested in
It’s time to reveal the hidden value of Canada’s natural assets
The economic value of our abundant network of forests, wetlands and green spaces is not reflected in financial statements, even though it could be higher than our debt.
Sustainable Development in the Year of COVID-19
The global pandemic has brought challenges the likes of which this generation has never seen. But there have also been bright spots worth celebrating.
Canada Is Stepping Up its Climate Ambition, Now we all have to step up
A new climate plan includes clear commitments to reduce our carbon footprint, build resilience, and play a leading role on the world stage.
How Can Nature Play a Leading Role in Adapting to Climate Change?
Five key takeaways from Canada’s Action on Nature-Based Solutions for Climate Adaptation Roundtable Dialogue.