The World Economic Forum’s Tropical Forest Alliance annual meeting, which has concluded in the Colombian capital, Bogotá, has seen a number of commitments that will contribute to the Alliance’s goal of protecting the world’s tropical rainforests.
The meeting took place the same week world scientists warned that deforestation was one of the key drivers of ecological collapse, with up to 1 million species at risk of extinction (according to the Intergovernmental science-policy Platform on Biodiversity and Ecosystem Services – IPBES report).
The meeting convened over 200 leaders from government, business and civil society and was co-hosted by the Colombian government. With over 50% of its land area forested, Colombia has the second-highest biodiversity density in the world after Brazil.
Important outcomes from the meeting included:
The launch by the Colombian government of a $20 million BioCarbon Fund aimed at reducing deforestation and degradation, promoting smart agriculture and sustainable land use – the funding corresponds to commitments by the governments of Germany, Norway and the United Kingdom
The Colombian government’s successful conclusion of an agreement with the meat and dairy industries to eliminate deforestation – the two strategic sectors complement existing agreements on cocoa and palm oil in the country
The German government, through the Federal Ministry for the Environment (BMU) and the Federal Ministry for Economic Cooperation and Development (BMZ), joined the Tropical Forest Alliance
Among other outcomes from the meeting were agreements to promote South-South cooperation at the national and sub-national level. These groups, along with business and civil society leaders, have agreed to hold a special meeting during the UN Climate Action Summit 2019 in September.
In his address to the Alliance, the President of Colombia, Iván Duque, expressed strong commitment to stop tropical deforestation. The actions and commitment of the Colombian government mark an important milestone in the global fight against deforestation. Deforestation has actually increased in the country since the peace agreement was signed and, in response, the government has developed an integrated strategy that involves fighting illegality, advancing deforestation-free supply chains, promoting restoration and implementing an innovative carbon tax.
Colombia will join a growing list of countries determined to champion the role of nature-based solutions to address climate change in New York in September.
“It’s quite simple. Life on earth isn’t possible without forests because they are integral to ecosystems and livelihoods around the world. While the original commitment was to eliminate deforestation from commodity supply chains by 2020, companies and governments have made important progress to enhance transparency and clean up supply chains over the last decade. It is only by coming together and harnessing the power of the full Alliance to force through real systemic change that protecting our forests for future generations can be achieved,” said Justin Adams, Director, Tropical Forest Alliance.
“Colombia is proud to host this meeting to showcase how we are advancing to differentiate our production of palm oil and cocoa as deforestation-free on the world stage, and to take the beef and dairy supply chains along that same route. Currently we face a spike of deforestation in the Colombian Amazon and the TFA meeting provided an opportunity to involve companies in reversing these trends by understanding their supply chains and working to eliminate any trace of deforestation from them. Thus, the private sector can be part of the solution and help us tackle this complex problem,” said Roberto Esmeral,
Vice-Minister of Territorial Environmental Planning of the Ministry of Environment and Sustainable Development of Colombia.
In 2010, members of the Consumer Goods Forum, including many major food and consumer goods companies, committed to end deforestation in key supply chains. Governments, businesses, civil society and indigenous people’s organizations further strengthened commitments in 2014 by endorsing the New York Declaration on Forests, which called for halving global deforestation rates by 2020 and ending it by 2030.
The Tropical Forest Alliance was brought into the World Economic Forum in 2015 to accelerate action on deforestation in the run-up to 2020 and beyond.
The status of climate risk management in Latin American and Caribbean banks
A survey among 78 financial institutions in Latin America and the Caribbean holding 54% of the total assets managed by the banking sector in the region, revealed that 38% of banks incorporate guidelines on climate change in their strategy and 24% have a policy on climate risk evaluation and disclosure.
The study entitled “How the Banks of Latin America and the Caribbean incorporate climate change in their risk management,” presented today during an online event, was prepared by the UN Environment Programme Finance Initiative (UNEP FI) and CAF – Development Bank of Latin America, with the collaboration of the Latin American Federation of Banks (FELABAN).
69% of the participant banks identified forestry and agriculture as the sector most exposed to climate risks, followed by the energy generation sector at 44%. 80% of the institutions recognized that the main physical risk to be incorporated in their risk evaluation and management was ‘flooding,’ followed by ‘drought’ (mentioned by 41% of the banks).
Banks in the region have an opportunity to improve the assessment of climate risks in their plans and strategies, with the aim of increasing their resilience and be better prepared to support the transition to low carbon economies.
According to the report, 41% of the institutions that took part in the survey recognized they do not have mechanisms to identify, analyze and manage climate risks.
The authors concluded that climate risks remain unmanaged mainly due to a lack of knowledge regarding the financial impact of climate change, and because of the absence of regulatory demands.
Banks in the region still tend to perceive climate risks from the perspective of how companies impact the environment, and not how exposed these companies are to climate threats. Considering the latter is key for financial institutions in the face of the expected increase in disasters and other impacts of extreme weather, the report notes.
According to the Intergovernmental Panel on Climate Change, given current concentrations and on-going emissions of greenhouse gases, it is likely that by the end of this century the rise in global temperature will exceed 1.5°C above preindustrial levels. This will come with higher sea levels and more frequent and intense climate disasters.
“During the last decade, banks in Latin America and the Caribbean have made significant progress in integrating sustainability criteria in their different areas of work. The study that we present today will also contribute to the timely management of climate risks in their financing portfolios,” said Julián Suárez, Vice President of Sustainable Development at CAF.
“Climate risk assessment is key to the goal of aligning the banking industry with a sustainable and equitable global economy in the 21st century, which becomes even more relevant today as we need to build back better after the COVID-19 pandemic,” said Eric Usher, Head of UNEP FI.
The authors call to follow the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), and to replicate initiatives like the UNEP FI pilot project with 16 of the world’s leading banks to develop analytical tools and indicators that strengthen the assessment and disclosure of climate risks.
The survey revealed that 53% of the banks utilized the Sustainability Report as a mechanism to disclose risks linked to climate change, while only 16% reported through regulatory financial forms as advocated by the TCFD recommendations.
Due to the lack of knowledge regarding climate-related risks definitions, the authors also recommend the banking sector of Latin America and the Caribbean to prepare a common taxonomy on these issues.
Five things you should know about disposable masks and plastic pollution
The fight against plastic pollution is being hit by the COVID-19 pandemic, as the use of disposable masks, gloves and other protective equipment soars, but UN agencies and partners insist that, if effective measures are put into place, the amount of plastics discarded every year can be significantly cut, or even eliminated.
1) Pollution driven by huge increase in mask sales
The promotion of mask wearing as a way to slow the spread of COVID-19 has led to an extraordinary increase in the production of disposable masks: the UN trade body, UNCTAD, estimates that global sales will total some $166 billion this year, up from around $800 million in 2019.
Recent media reports, showing videos and photos of divers picking up masks and gloves, littering the waters around the French Riviera, were a wake-up call for many, refocusing minds on the plastic pollution issue, and a reminder that politicians, leaders and individuals need to address the problem of plastic pollution.
2) A toxic problem
If historical data is a reliable indicator, it can be expected that around 75 per cent of the used masks, as well as other pandemic-related waste, will end up in landfills, or floating in the seas. Aside from the environmental damage, the financial cost, in areas such as tourism and fisheries, is estimated by the UN Environment Programme (UNEP) at around $40 billion.
The UN Environment Programme (UNEP) has warned that, if the large increase in medical waste, much of it made from environmentally harmful single-use plastics, is not managed soundly, uncontrolled dumping could result.
The potential consequences, says UNEP, which has produced a series of factsheets on the subject, include public health risks from infected used masks, and the open burning or uncontrolled incineration of masks, leading to the release of toxins in the environment, and to secondary transmission of diseases to humans.
Because of fears of these potential secondary impacts on health and the environment, UNEP is urging governments to treat the management of waste, including medical and hazardous waste, as an essential public service. The agency argues that the safe handling, and final disposal of this waste is a vital element in an effective emergency response.
“Plastic pollution was already one of the greatest threats to our planet before the coronavirus outbreak,” says Pamela Coke-Hamilton, UNCTAD’s director of international trade. “The sudden boom in the daily use of certain products to keep people safe and stop the disease is making things much worse.”
3) Existing solutions could cut plastics by 80 per cent
However, this state of affairs can be changed for the better, as shown by a recent, wide-ranging, report on plastic waste published by The Pew Charitable Trusts, and sustainability thinktank Systemiq.
The study, “Breaking the Plastic Wave: A Comprehensive Assessment of Pathways Towards Stopping Ocean Plastic Pollution”, which was endorsed by Inger Andersen, head of the UN environment agency UNEP, forecasts that, if no action is taken, the amount of plastics dumped into the ocean will triple by 2040, from 11 to 29 million tonnes per year.
But around 80 per cent of plastic pollution could be eliminated over this same period, simply by replacing inadequate regulation, changing business models and introducing incentives leading to the reduced production of plastics. Other recommended measures include designing products and packaging that can be more easily recycled, and expanding waste collection, particularly in lower income countries.
4) Global cooperation is essential
In its July analysis of plastics, sustainability and development, UNCTAD came to the conclusion that global trade policies also have an important role to play in reducing pollution.
Many countries have introduced regulations that mention plastics over the last decade, an indicator of growing concern surrounding the issue, but, the UNCTAD analysis points out, for trade policies to be truly effective, coordinated, global rules are needed.
“The way countries have been using trade policy to fight plastic pollution has mostly been uncoordinated, which limits the effectiveness of their efforts, says Ms. Coke-Hamilton. “There are limits to what any country can achieve on its own.”
5) Promote planet and job-friendly alternatives
Whilst implementing these measures would make a huge dent in plastic pollution between now and 2040, the Pew/ Systemiq report acknowledges that, even in its best-case scenario, five million metric tons of plastics would still be leaking into the ocean every year.
A dramatic increase in innovation and investment, leading to technological advances, the report’s study’s authors conclude, would be necessary to deal comprehensively with the problem.
Furthermore, UNCTAD is urging governments to promote non-toxic, biodegradable or easily recyclable alternatives, such as natural fibres, rice husk, and natural rubber. These products would be more environmentally-friendly and, as developing countries are key suppliers of many plastic substitutes, could provide the added benefit of providing new jobs. Bangladesh, for example, is the world’s leading supplier of jute exports, whilst, between them, Thailand and Côte d’Ivoire account for the bulk of natural rubber exports.
“There’s no single solution to ocean plastic pollution, but through rapid and concerted action we can break the plastic wave,” said Tom Dillon, Pew’s vice president for environment. As the organization’s report shows, “we can invest in a future of reduced waste, better health outcomes, greater job creation, and a cleaner and more resilient environment for both people and nature”.
Beyond tourism: Investing in local communities to protect Africa’s wild spaces
For ten years, Dixon Parmuya has guided tourists on bush walks around Amboseli National Park in Southern Kenya. But since COVID-19 swept through Kenya in mid-March, the country’s tourism industry has dwindled, leaving many locals without jobs and animals without protection.
The coronavirus pandemic is creating what experts are calling a brewing conservation crisis in Kenya, a country home to some of Africa’s most iconic animals. Most of Kenya’s programs to protect wildlife are funded directly by tourist dollars and with visitor numbers down, money for conservation is drying up, say experts. There are also fears that poaching will rise, leaving wildlife protection hanging in the balance.
“If there is no tourism, there is no conservation,” says Parmuya.
But the pandemic is encouraging countries to change that.
“Tourism can be fickle,” says Doreen Robinson, Chief of Wildlife at the United Nations Environment Programme (UNEP). “We have to be more creative to expand revenue streams that can directly support local communities and protect natural assets.”
In Africa, UNEP is working closely with governments and partners to encourage wildlife-based economies – where local communities are central to protecting the wildlife areas they inhabit, for mutual benefit of both. This includes going beyond tourism to attract other kinds of green investment in wildlife areas, like using natural resources to produce consumer goods in a sustainable way.
“We have to ensure that money gets reinvested into locally protected areas, and benefits are shared with the communities protecting biodiversity and wildlife, because these communities are creating the conditions for long-term, sustainable conservation in Kenya,” says Robinson.
That is something Purity Amleset agrees with. She is part of a team of all-female rangers with the International Fund for Animal Welfare that is working to raise awareness about the importance of wildlife to Kenya’s economy and its identity.
“As a ranger, I’m creating that conducive environment between the wild animals and my community. I come from that community, so they understand me well when I tell them the importance of wildlife,” she says.
Each year, 31 July marks World Ranger Day to commemorate rangers all over the world who risk their lives every day at the forefront of conservation.
The Looming Disaster of the Safer Oil Tanker Moored off the Coast of Yemen
Amidst the raging conflict in Yemen, the challenge of the Safer Oil Tanker emerges as one of the most hazardous...
Indian Imbalanced Balance
A serious crisis is looming over journalism in India, which is increasingly vested in the hands of authority. On the...
Neatly tucked away on the sparkling Turkish Riviera, the utterly luxurious Dalyan Resort is a dreamy coastal cocoon that one...
Greater Implications of the Iran-China Deal on India
Authors: Dhritiman Banerjee and Subarna Mustari* India entered as a stakeholder in the development of Iran’s Chabahar port in 2016...
Analysing the Russia Report: Separating the Wheat from the Chaff
The long-awaited Russia Report has finally been released by the UK Parliament’s Intelligence and Security Committee. However, whether it has...
Rights experts call on India to remedy ‘alarming’ situation in Jammu and Kashmir
UN-appointed independent human rights experts have called for urgent action in India’s Jammu and Kashmir, amid concerns of ongoing abuses...
Maintaining Command of the Sea: Maritime Doctrines of Pakistan and India
Maritime and naval component is an important part of political, economic and military domain of a maritime nation. This component...
Science & Technology2 days ago
Artificial Intelligence and Its Partners
Middle East3 days ago
Between Missiles and Flour: The Inside-Outside Game of Hezbollah in Lebanon
Science & Technology3 days ago
5G: A Geostrategic sector for Algorithmic finance
International Law3 days ago
Refugees In The Outbreak Of The Pandemic
Europe3 days ago
Legacy of antifascism for the common pan-European future
Americas2 days ago
China Replacing Russia as the Boogeyman in the U.S. Presidential Campaign
Europe2 days ago
The spirit of “Greater Albania” acquires Brussels substance
South Asia2 days ago