Pre-Seeding 'Nature' over 'Net Zero' for accelerating Just Transition

The world is facing an unprecedented challenge in the form of climate change, and it is imperative that we take immediate action to mitigate its impact. The transition to a greener and nature-based economy is one of the most effective ways to achieve this goal. In this blog post, I will discuss the practical approaches and strategies that global industries can adopt to accelerate this transition.

The title of this blog post is a thought-provoking one. It highlights the importance of prioritizing nature-based solutions investments over net-zero solutions while emitting more. While to remain on the net-zero trajectories are important, they are not enough to address the scale of the challenge we face. We need to go beyond talking long term goal of net-zero and focus on preceding nature-based solutions, biodiversity conservation investments and ideas to nurture to accelerate the transition to a greener economy, for the start-up world concept of Pre-seed funding on the Natural ecosystem restoration should be prioritized, scaled and successful Climate tech companies need to be turned to be a Nature-Tech starts-ups, looking for Pre-seed funding to turn impossible great ideas to action.

These Nature-tech solutions can help us to reduce our carbon footprint while also promoting biodiversity and ecosystem services. For example, reforestation and afforestation projects can help to sequester carbon while also providing habitat for wildlife and promoting soil health. Similarly, wetland restoration projects can help to reduce the risk of flooding while also providing habitat for migratory birds and other wildlife.

Another important strategy is to promote circular economy principles. This involves designing products and processes that minimize waste and maximize the use of resources. By adopting circular economy principles, global industries can reduce their environmental impact while also creating new business opportunities. For example, companies can design products that are easier to repair and recycle, or they can adopt closed-loop production systems that minimize waste.

The world is facing a climate crisis that threatens the survival of humanity and the planet. The Paris Agreement aims to limit global warming to well below 2°C, preferably 1.5°C, compared to pre-industrial levels. To achieve this goal, countries and companies have pledged to reach net zero emissions by mid-century or sooner. Net zero means that any remaining greenhouse gas emissions are balanced by removing an equivalent amount from the atmosphere, such as by planting trees or using carbon capture and storage technologies.

If by 2030, more than 75% of the lands and water are degraded to the irreversible damage, what will happen when we reach Netzero by 2050. We need to go beyond net zero focus and embrace nature-based solutions that restore and protect the natural ecosystems that support life on Earth.

Nature-based solutions are actions that work with and enhance nature to address societal challenges, such as climate change, biodiversity loss, food security, water scarcity, and disaster risk reduction. They include activities such as reforestation, agroforestry, wetland restoration, mangrove conservation, and regenerative agriculture. Nature-based solutions can provide multiple benefits for people and the planet, such as sequestering carbon, enhancing biodiversity, improving livelihoods, increasing resilience, and supporting human health and well-being

According to the Intergovernmental Panel on Climate Change (IPCC), nature-based solutions could provide up to 37% of the cost-effective mitigation needed by 2030 to keep global warming below 2°C. Moreover, nature-based solutions can also help countries and companies achieve their social and environmental goals, such as the Sustainable Development Goals (SDGs) and the Convention on Biological Diversity (CBD). So we should look forward to real #ClimateActions in 2024 at the COP 16 in Columbia, which will be the first Biodiversity COP since the adoption of the Kunming-Montreal Global Biodiversity Framework last year rather than incremental global policy shift at COP 29 of Climate change conference.

The nature-based solutions are not receiving enough attention and investment from the public and private sectors so COP 16 would be crucial platform to mobilize finances for nature. According to a recent report by the Global Commission on Adaptation, only 3% of climate finance goes to nature-based solutions. Furthermore, nature-based solutions are often undervalued or overlooked in policy frameworks and corporate strategies that focus on technological solutions or emission reductions alone.

The solution lies in believing that we need to shift our mindset and approach from net zero to nature-positive. Nature-positive means that we not only reduce our negative impacts on nature, but also enhance our positive impacts by restoring and regenerating natural capital. Nature-positive also means that we respect the rights and interests of local communities and indigenous peoples who depend on and steward nature.

To achieve this vision, we need to adopt a holistic and integrated approach that aligns corporate strategy and developmental need of different countries with ESG disclosure and carbon pricing policies, regulations with climate just transition. Here are some of the key steps that we can take:

• Incorporate nature-based solutions into corporate strategy and operations. Corporates can assess their dependencies and impacts on nature, identify opportunities and risks related to nature-based solutions, and set targets and actions to implement them across their value chains. For example, companies can invest in restoring degraded lands, promoting sustainable agriculture practices, supporting community-based conservation initiatives, or developing nature-based products and services
• Disclose and report on nature-related performance and risks. Companies can use frameworks such as the Task Force on Climate-related Financial Disclosures (TCFD) and the Task Force on Nature-related Financial Disclosures (TNFD) to measure and communicate their exposure and response to nature-related issues. For example, companies can disclose their greenhouse gas emissions, land use change, water consumption, biodiversity impacts, natural capital valuation, nature-based solution investments, and adaptation plans.
• Advocate for carbon pricing policies that reflect the true value of nature. Industries can support government the development and implementation of carbon pricing mechanisms that account for the social cost of carbon and the co-benefits of nature-based solutions. For example, companies can engage with policymakers and stakeholders to promote carbon taxes or emissions trading schemes that incentivize emission reductions and nature restoration, or oppose subsidies or loopholes that favor fossil fuels or harmful land use practices.
• Align with regulations that foster a climate just transition. Regulatory authorities can comply with and contribute to the development of regulations that ensure a fair and equitable transition to a low-carbon economy. For example, companies can adhere to environmental standards and safeguards, respect human rights and labor rights, promote social inclusion and participation, provide decent work opportunities and skills development, or support social protection and safety nets for vulnerable groups.

By pre-seeding nature over net zero, we can accelerate a just transition that benefits both people and the planet. We can also create a competitive advantage for our businesses by enhancing our reputation, resilience, innovation, and profitability. The time to act is now with right short and medium term priority. Let us join forces to make nature-positive the new normal.

Few reading source(s) for further insights are shared here supporting this thought piece.

1. Getting on Track to Net Zero: Accelerating a Global Just Transition

2. How a just transition can speed the race to net zero

3. Achieving net-zero through just transition - Heinrich-B?ll-Stiftung

4. Advancing green finance: a review of sustainable development

5. The Next Critical Frontier for Private Sector Leadership