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Nature Can Help Solve Crises, with Investment: Joint Report | News | SDG Knowledge Hub | IISD – IISD's SDG Knowledge Hub

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The UN Environment Programme (UNEP) released a report on the ‘state of finance for nature,’ finding an investment gap of USD 165 billion per year from G20 countries for nature-based solutions, in order to meet currently agreed global targets by 2050. The biodiversity and climate finance gaps are emphasized in the draft post-2020 global biodiversity framework and the 2021 Glasgow Climate Pact.

Nature-based solutions (NbS) refers to a range of actions that rely on investing in nature to resolve societal challenges. NbS can include, for example: improving carbon sequestration on agricultural lands and peatlands; restoring mangroves to defend against flooding; and protecting global biodiversity through forest and other land conservation.

Released on 26 January 2022, the report titled ‘The State of Finance for Nature in the G20 Leading by example to close the investment gap’ was led by UNEP, the World Economic Forum, and the Economics of Land Degradation (ELD) Initiative. The authors write that in the context of the latest findings from the Intergovernmental Panel on Climate Change (IPCC) and the 2021 UN Food Systems Summit, the role of investment in NbS “is clear: it tackles these interlinked crises.”

At the upcoming 15th meeting of the Conference of the Parties (COP 15) to the Convention on Biological Diversity (CBD), governments are expected to adopt a post-2020 global biodiversity framework, containing several targets. As currently drafted, Target 19 calls to “increase financial resources from all sources to at least US$200 billion per year … to meet the needs for implementation, commensurate with the ambition of the goals and targets of the framework.” At the Glasgow Climate Change Conference (UNFCCC COP 26) in November 2021, governments adopted the Glasgow Climate Pact. It notes the need to significantly increase support for developing country Parties, “beyond USD 100 billion per year.” 

To meet all agreed targets on biodiversity, climate, and land restoration by 2050, annual investment from G20 countries in nature-based solutions needs to increase by at least 140% – or an additional USD 165 billion per year. The authors suggest that this amount should be divided among four categories of nature-based solutions: forestry, silvopasture, mangrove restoration, and peatland restoration.

The report also finds:

  • The business and investment case for nature needs to be made stronger.  
  •  G20 countries should seize opportunities to increase investment in non-G20 countries, which can often be more cost-effective and efficient than investing in similar nature-based solutions internally. For example, “the average cost of converting land from other uses to nature-based solutions in G20 countries is USD 2.600/hectare, while the same costs only USD 2,100/hectare for non-G20 regions,” according to Nina Bisom, ELD; and
  • Developed countries should tie “nature and climate conditions” to fiscal stimulus measures.

A previous ‘State of Finance for Nature’ report was released in 2021, and focused on tripling investments in nature-based solutions by 2030. That publication identified a USD 4.1 trillion financing gap in nature based solutions between 2020 and 2050. [Publication: State of Finance for Nature in the G20]

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Tesla shares soar more than 14% as Trump win is seen boosting Elon Musk’s electric vehicle company

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NEW YORK (AP) — Shares of Tesla soared Wednesday as investors bet that the electric vehicle maker and its CEO Elon Musk will benefit from Donald Trump’s return to the White House.

Tesla stands to make significant gains under a Trump administration with the threat of diminished subsidies for alternative energy and electric vehicles doing the most harm to smaller competitors. Trump’s plans for extensive tariffs on Chinese imports make it less likely that Chinese EVs will be sold in bulk in the U.S. anytime soon.

“Tesla has the scale and scope that is unmatched,” said Wedbush analyst Dan Ives, in a note to investors. “This dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment, coupled by likely higher China tariffs that would continue to push away cheaper Chinese EV players.”

Tesla shares jumped 14.8% Wednesday while shares of rival electric vehicle makers tumbled. Nio, based in Shanghai, fell 5.3%. Shares of electric truck maker Rivian dropped 8.3% and Lucid Group fell 5.3%.

Tesla dominates sales of electric vehicles in the U.S, with 48.9% in market share through the middle of 2024, according to the U.S. Energy Information Administration.

Subsidies for clean energy are part of the Inflation Reduction Act, signed into law by President Joe Biden in 2022. It included tax credits for manufacturing, along with tax credits for consumers of electric vehicles.

Musk was one of Trump’s biggest donors, spending at least $119 million mobilizing Trump’s supporters to back the Republican nominee. He also pledged to give away $1 million a day to voters signing a petition for his political action committee.

In some ways, it has been a rocky year for Tesla, with sales and profit declining through the first half of the year. Profit did rise 17.3% in the third quarter.

The U.S. opened an investigation into the company’s “Full Self-Driving” system after reports of crashes in low-visibility conditions, including one that killed a pedestrian. The investigation covers roughly 2.4 million Teslas from the 2016 through 2024 model years.

And investors sent company shares tumbling last month after Tesla unveiled its long-awaited robotaxi at a Hollywood studio Thursday night, seeing not much progress at Tesla on autonomous vehicles while other companies have been making notable progress.

Tesla began selling the software, which is called “Full Self-Driving,” nine years ago. But there are doubts about its reliability.

The stock is now showing a 16.1% gain for the year after rising the past two days.

The Canadian Press. All rights reserved.

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S&P/TSX composite up more than 100 points, U.S. stock markets mixed

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TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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S&P/TSX up more than 200 points, U.S. markets also higher

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TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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