Thursday 31 March 2022 – NatureFinance (formerly known as Finance for Biodiversity (F4B)) today announces the launch of a global Taskforce to ensure that emerging nature markets deliver nature positive and equitable outcomes and contribute to meeting climate goals.
“Climate, nature and equity goals are intrinsically linked, yet we are falling short on all three,” said Sandrine Dixon-Declève, Taskforce member, Co-President, Club of Rome and Chair, European Commission’s Economic and Societal Impacts from Research and Innovation Expert Group. “For years we have called for proper valuation of nature and natural resources in our economic system. Market structures are fundamentally skewed towards short-term profits, and low cost versus true cost considerations. It is high time that we put in place the governance rules, criteria, and fundamental new economic mechanisms that both preserve and regenerate nature for future generations to come.”
Carlos Lopez, Taskforce member, Professor, Mandela School of Public Governance & African Climate Foundation Advisory Council Chair said: “As an African, I am fully aware of how the nature and markets nexus is an old dilemma, responsible for deteriorating the continent’s environment while producing wealth and opportunities for others, through commodities dependency. As part of the climate transition we have the opportunity to do things right, incentivising nature-centred public goods, and ensuring sustainable development.”
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.”
Read the full paper here: bit.ly/FutureofNatureMarkets
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. A full list of the members appears below.
Chief Almir Narayamoga Surui, Taskforce member, Leader of The Paiter Surui People said: “Without nature there is no life on our planet nor a sustainable economy. We need to transform nature markets to ensure they support a sustainable and just society in tandem with nature. It is fundamental that nature markets strengthen the forest guardians and support indigenous people in the Amazon.”
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.
Sylvie Lemmet, Ambassadrice pour l’environnement chez Ministère de l’Europe et des Affaires étrangères said: “The rapid and massive extinction of species and ecosystems threatens the sustainability of our economies and food systems. Policy makers must support financial institutions in reassessing the value given to nature, and the cost of our externalities through transparent and equitable nature positive market rules. The Taskforce will certainly feed this reflection and support the global endeavour.”
Lord Zac Goldsmith, UK Government Minister for the Pacific and the International Environment said: “As well as decarbonising rapidly, the global economy needs urgently to be reconciled with nature. So I look forward to working with the Taskforce on Nature Markets which we believe can make a valuable contribution to advancing the necessary transition swiftly and effectively”
“Shifting to a sustainable future means that markets need to adequately consider all aspects of nature,” said IUCN Director General, Dr Bruno Oberle. “IUCN will support the Taskforce in developing principles for nature markets, enabling effective investment for nature conservation globally.”
Carlos Manuel Rodriguez, Taskforce member and CEO and Chairperson of the Global Environment Facility (GEF)said: “Conflicts between nature and human systems are increasing in severity and complexities. Solving these interrelated challenges will require a bold political agenda involving every country and economic sector. The GEF looks forward to engaging with the new Taskforce in recommending key steps to shape purposeful and equitable nature markets.”
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.
Katrina Donaghy, Taskforce member and CEO, Civic Ledger said: “Emerging technologies such as blockchain can make nature markets more efficient by supporting complete information transparency, and in a way that is complementary to laws, regulations, investment, and socio-economic incentives.”
Vian Sharif, Taskforce member and Founder of NatureAlpha said: “By harnessing the power of big data, underpinned by diverse perspectives and capabilities, we can work together to address the biodiversity declines and ecosystem collapse which currently threaten almost half of the world’s total GDP.”
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.
Maria Fernanda Espinosa, Taskforce member, Ecuadorian Politician and Diplomat said: “Nature, Biodiversity and most of its services are in the Global South. We need to ensure that Nature Positive market instruments and mechanisms do safeguard that the benefits of its conservation address cross-sectional inequalities and are invested in the well-being and rights of the Peoples that are the stewards of nature.”
“Until the value of nature is embedded into our entire economy, we must develop institutional frameworks that deter harm to nature, such as the Taskforce on Nature-related Financial Disclosures (TNFD), and simultaneously channel capital into nature restoration and natural climate solutions,” said Dr. Rhian-Mari Thomas, Taskforce member and Chief Executive, Green Finance Institute. “Nature markets have already emerged that have the potential to support natural climate solutions. We must now ensure these markets result in the best high integrity outcomes for the natural environment and the communities that rely on, protect, and manage that environment.”
Deborah Lehr, Executive Director and Vice-Chairman, Paulson Institute said: “The global financial community can and must play a historic role in channelling our collective resources to build a sustainable economy. Making this happen requires a financial system that is aware of the value of nature and is guided by rules that will protect it.”
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.
Simon Zadek, Co-lead, Taskforce on Nature Markets Secretariat said: “Taskforces make a difference when they are led by extraordinary people, have a strategic and timely focus on issues of societal importance, overcome conventional silos of people and perspectives, and ultimately point to ambitious but practical steps that can be taken. The Taskforce on Nature Markets is well placed to fulfil these success conditions.”
“Nature’s role in our personal, economic and spiritual lives has been overlooked,” said Taskforce member, Nakul Saran. “I’m proud to be a part of an initiative that puts nature and equity at the heart of the dialogue needed for a new regenerative economic model.”
Find out more about the Taskforce on Nature Markets http://www.naturemarkets.net/
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Notes to editor
For more information, please contact: Ceandra Faria
Tel: +33 6 64 08 55 96 | ceandra.faria@f4b-initiative.net
Taskforce Members
Chief Almir Narayamoga Surui, Leader of The Paiter Surui People
André Hoffmann, President, MAVA Foundation and Vice Chairman, Roche Holding
Bruno Oberle, Director General, International Union for Conservation of Nature (IUCN)
Carlos Lopez, Professor, Mandela School of Public Governance & African Climate Foundation Advisory Council Chair
Carlos Manuel Rodriguez, CEO and Chairperson, Global Environment Facility (GEF)
Henry Paulson, Chair, Paulson Institute
Joaquim Levy, Director for economic strategy and market relations, Banco Safra S.A
Kate Hampton, CEO, Children’s Investment Fund Foundation
Katrina Donaghy, CEO, Civic Ledger
Maria Fernanda Espinosa, Ecuadorian Politician and Diplomat
Nakul Saran, Unaffiliated
Rebeca Grynspan, Secretary-General, United Nations Conference on Trade and Development (UNCTAD)
Rhian-Mari Thomas, CEO, Green Finance Institute
Sandrine Dixon-Declève, Co-President, Club of Rome and Chair of the European Commission’s Economic and Societal Impacts from Research and Innovation Expert Group
Sylvie Lemmet, Ambassadrice pour l’environnement chez Ministère de l’Europe et des Affaires étrangères
Vian Sharif, CEO, NatureAlpha and Head of Sustainability, FNZ
About the Taskforce on Nature Markets
The Taskforce on Nature Markets has been established to shape a new generation of purposeful nature markets that delivers nature positive and equitable outcomes. To deliver this objective, the Taskforce is advancing work across six interlinked areas: mapping approaches and experiences, building awareness of opportunities/risks, growing a community of practitioners, encouraging innovation, advancing supportive governance arrangements, and launching pathfinder initiatives to scale the implementation of recommended approaches. The Taskforce is an initiative of, and hosted by Finance for Biodiversity (F4B), and is supported by the MAVA Foundation. www.naturemarkets.net, on Twitter @TaskforceNM and on LinkedIn @Taskforce on Nature Markets.
