On Thursday 31st March, Finance for Biodiversity Initiative (F4B) launched of a global Taskforce to ensure that emerging nature markets deliver nature positive and equitable outcomes, and contribute to meeting climate goals.
A white paper - ‘The Future of Nature Markets’ released today - describes this emerging phenomenon of new ‘nature markets’, and sets out the case for an ambitious Taskforce agenda, as explained by its lead author, Ralph Chami, Senior Advisor, Taskforce on Nature Markets Secretariat: “The Taskforce is a response to the dire state of nature, its importance in addressing climate change, greater visibility of our economic and societal dependency on nature’s thriving bounty, and the need to protect and regenerate nature in ways that ensure prosperity for nature's stewards - local and indigenous people.”
The Taskforce leadership brings together a unique combination of perspectives and capabilities in addressing its mission, including Chief Almir Narayamoga Surui, Leader of The Paiter Surui People; Rebeca Grynspan, Secretary-General of United Nations Conference on Trade and Development (UNCTAD); and Hank Paulson, Chair, Paulson Institute.
Policy and international cooperation will play a crucial role in the transformation of nature markets, and the Taskforce will build on existing efforts in recommending key steps to be taken.
Technology - alongside policy and market innovations - will shape the new generation of nature markets and can play a critical role in ensuring they take nature and equity aspects more fully into account.
The Taskforce is part of wider efforts to advance the transition to a nature positive, net zero global economy, including efforts to align global finance with these goals.
The Taskforce will contribute to broader ongoing efforts to make nature count in transitioning to a nature positive, net zero economy, including initiatives at the nature finance nexus such as the Taskforce on Nature-related Financial Disclosures’ (TNFD) work in developing policy-focused carbon markets building on foundations laid by the Taskforce on Scaling Voluntary Carbon Markets, among others, and a host of market-driven, policy and regulatory developments.
The Taskforce provides a complementary focus on the risks and potential of a new generation of nature markets. Its work will build awareness of nature markets, develop communities of practice, innovations and a roadmap of recommendations as well as create exemplary pathfinder initiatives.
