The third edition of #Innovate4Climate wrapped up in Singapore on Friday, June 7, 2019. Over 1,200 delegates from 82 countries attended a number of events including:
- A high-level summit with three priority themes: battery storage, sustainable cooling, and climate-smart cities;
Over 50 workshops that focused on finance, technology, markets, and resilience;
- An inaugural Pitch Hub Competition for start-ups with climate-smart solutions in urban development with the winner chosen from over 230 applications;
- A bustling marketplace of exhibitors;
- A journalist workshop to support building media capacity for climate issues, and a youth engagement, including a #YouthTakeOver of Connect4Climate’s social media channels;
- and Multiple site visits showcasing Singapore’s leadership in urban sustainability.
This was the first time Innovate4Climate took place Asia. One of the most vulnerable regions globally to climate change, Asia is also home to some of the most exciting opportunities that are arising from bold climate action, whether technology, business models or policy innovations.
The week provided ample opportunities to hear from and exchange ideas with experts, innovators, entrepreneurs and financiers about Asia’s low-carbon, climate-resilient transformation.
Take, for instance, the ‘triple win’ of sustainable cooling. It can improve development outcomes – just halving food loss with refrigeration and food cold chains could feed 1 billion undernourished people globally and cooling is critical to avoid heat-induced losses of productivity that could amount to 6% of GDP by 2050 in some parts of Asia and Africa. At the same time, smarter cooling would also reduce harmful emissions that could otherwise lead to 1°C of global warming on a business-as-usual basis and also generate business opportunities and cost savings in commercial and industrial facilities by installing efficient cooling equipment. Approaches like the bulk procurement deployed by India’s Energy Efficiency Service Limited are driving down costs and boosting the uptake of more sustainable cooling options, vital in a country where air-conditioner market penetration is only about 6% but set to rise fast. A site visit to Singapore’s underground district cooling network – the world’s largest – took Innovate4Climate participants on a tour of the 5 km centralized piping network that serves customers in the Marina Bay financial district.
On battery storage it was clear that far from being a single purpose asset, batteries could have multiple uses, delivering greater value and bringing costs down. Tailoring energy storage solutions specifically to local contexts can also open markets. A combination of leadership and vision, policies and regulatory frameworks, as well as innovative finance and technology will be key to boosting battery storage solutions.
Climate-smart cities will be critical for the safety and prosperity of billions of people. Today, urban dwellers account for just over half the global population. By 2050, almost 70% of the world’s population will live in cities and one third of them will be in Asia. And already many are leading the way in climate-smart innovations, policies and design. Take Guangzhou, a Chinese megacity with a population of over 14 million, which has installed massive district cooling both retrofitting existing buildings and building new commercial spaces. It has also boosted urban livability by promoting the greening of urban spaces and ensuring it is pedestrian-friendly. Singapore’s Semakau landfill – also a site visit for Innovate4Climate’s participants – is the city’s only landfill facility, receiving over 2,000 tonnes of WTE plant ash and non-incinerable waste daily. Thanks to its innovative waste disposal design, marine biodiversity is carefully protected as are the coral reefs along Pulau Semakau’s western shore, and plots of replanted mangroves are thriving.
Singapore also recently launched a carbon pricing initiative. Along with other countries, including South Africa, Argentina, as well as a number of Canadian provinces and territories, this brings the total of carbon pricing initiatives to 57 globally, up from 51 in April 2018 according to the annual State and Trends of Carbon Pricing report launched at Innovate4Climate.
While this is encouraging the update of carbon pricing is not yet at the level needed to drive the ambitious action needed to meet the objectives of the Paris agreement. Better communication of the rational for carbon pricing, and explicit political engagement to build stakeholder support will be critical to accelerate coverage. For the first time, the report also looked at the critical role of implicit carbon pricing, such as fossil fuel subsidies and fuel taxes, that can also help drive climate action.
Discussions around Article 6 of the Paris Agreement highlighted how next-generation carbon markets can reduce the cost of mitigation and increase resource mobilization and global climate ambition.
Green bonds in emerging markets also had a boost during the week with the launch of the Real Economy Green Investment Opportunity (REGIO) Fund. The fund, a partnership between IFC and HSBC Global Asset Management Fund is expected to catalyze at least $500 million to $700 million in multilateral and private sector capital to support climate-smart investments in developing countries—largely through bonds issued by non-financial, or real sector, companies.
As the week came to a close, one message was clear: the climate challenge is significant and urgent, but there are exciting solutions out there that have the potential to transform our economies and deliver cleaner, better and more inclusive growth.
Flipflopi sets sail around Lake Victoria to raise awareness on pollution menace
Flipflopi, the world’s first sailing boat made from 100% recycled plastic, is joining forces with the UN Environment Programme’s Clean Seas Campaign once more, this time embarking on an expedition by sailing around Africa’s largest freshwater ecosystem – Lake Victoria. The voyage aims to send an urgent message to the East Africa community on the need to end the unnecessary single-use plastic scourge that is threatening the region.
The current state of Lake Victoria, supporting 40 million East Africans, through food supply and livelihoods, symbolises the catastrophic effects of human activities and climate change, among other issues, resulting in significant water pollution which threatens the health and livelihoods of communities.
A recent study estimated that 1 in 5 of the fish in Lake Victoria had ingested plastic. Another recent study ubiquitously recorded microplastics in surface waters in several sites of Lake Victoria. At the heart of the plastic waste problem is the linear ‘take-make-dispose’ model of consumption, as products get manufactured, bought, used briefly, and then thrown away.
The Flipflopi is an initiative showcasing alternative uses of plastic waste and the possibilities of circular economy approaches. Over a three-week period, Flipflopi will sail from Kisumu, Kenya to several locations in Uganda and Tanzania, raising awareness and inspiring communities to adopt circular-waste solutions to beat plastic pollution.
“This Lake, Nam Lolwe, matters to me. It must matter to us all. Investing in research and development on blue economy investments, improving the health of the lake and riparian environment while ensuring that investments are ‘lake friendly’ from inception are amongst my priorities” said Governor of Kenya’s Kisumu County Anyang’ Nyong’o.
“The COVID-19 pandemic has accelerated the need to address the myriad environmental crises, which can only be done through regional and global consensus on key issues like single-use plastic, and climate change,” said Joyce Msuya, Deputy Executive Director of the UN Environment Programme (UNEP). “Flipflopi is a great African example of the circular economy in action; we are proud to see it start this new journey around Lake Victoria, a shared resource that we must do all we can to protect.”
Flipflopi’s Lake Victoria expedition will include several stops along the lake engaging community leaders, conservationists, business leaders and policymakers, demonstrating alternate uses of waste plastic and other circular waste models calling for an end to single-use plastics.
“Flipflopi was built to show the world that it is possible to make valuable materials out of waste plastic, and that single-use plastic really does not make sense,” said Ali Skanda, co-founder of the Flipflopi project and builder of the world’s first recycled plastic dhow. “By sailing around the lake, we aim to inspire people to create their own waste-plastic innovations and adopt circular solutions that will build greener businesses, whilst also taking plastic out of the environment. Together with communities across the Lake Victoria region we hope to bring awareness and innovative solutions to beat pollution and support a green recovery in East Africa”
Flipflopi is an example of innovative circular solutions applied at a national level to the pollution challenge. In Kisumu on the shores of Lake Victoria, CIST Africa are making hand sanitizer from invasive water hyacinth.
Innovators like Sanergy are turning Nairobi’s untreated organic waste into organic fertiliser for crops, feed for livestock, and fuel briquettes for energy. In Uganda, the women who set up Reform Africa are turning plastic waste into sustainable and waterproof bags, whilst providing school children in rural areas with bags for free. In Tanzania, a collective of local artisans known as ‘Made by Africraft’ are introducing youth and the unemployed to developing sustainable handicrafts to create a livelihood.
Flipflopi, the Clean Seas Campaign and partners aims to showcase green innovations as they sail around the lake, and inspire communities and businesses to act against plastic pollution.
As part of the expedition, the Flipflopi expedition will launch a petition calling for a regional ban on single-use plastics.
Can financial institutions invest in ocean health?
New, pivotal guidance published today by the UN Environment Programme Finance Initiative (UNEP FI) provides a market-first, practical toolkit for financial institutions to take immediate action on their lending, investment and underwriting activities which negatively impact ocean health.
The ocean covers 70% of the earth’s surface, holding 97% of all water and 80% of all life forms. Major ocean sectors such as tourism, shipping, fishing, aquaculture and marine renewable energy collectively contribute to a ‘blue’ economy, estimated at a global gross value added of USD 1.5trn in 2010. This is projected to double in size to USD 3trn by 2030, with some ocean industries set to grow faster than the global economy (OECD, 2016).
However, ocean health is under existential threat. Faced with the triple crises of pollution, nature loss and climate change, two-thirds of our oceans have been negatively altered by human activity; leaving industries, businesses and livelihoods exposed. With existing financing still largely directed towards unsustainable sectors and activities, it is critical that all sectors of the blue economy are rapidly transitioned towards sustainable pathways.
Banks, insurers and investors have a major role to play in financing this transition to a sustainable blue economy, helping to rebuild ocean prosperity and restore biodiversity to the ocean. Through their activities, and client relationships, financial institutions have a major impact on ocean health and hold the power to accelerate and mainstream the sustainable transformation of ocean-linked industries. They thereby play essential roles in wider ocean governance, engaging in public-private partnerships, and propelling local-to-global actions for sustainability.
“Momentum is building as more banks, insurers and investors wake up to the realisation that their financial activities can have a sizeable impact on ocean health, creating a negative feedback loop for key ocean industries such as shipping, fishing, tourism and marine renewables” said Eric Usher, Head of UN Environment Programme Finance Initiative (UNEP FI).
“A new sustainable pathway for the blue economy is thus both an environmental and economic necessity. This critical new guidance provides a practical toolkit for financial institutions to understand their impact and discover how a new sustainable finance approach can help them identify key risks and opportunities in ocean-linked sectors” he added.
Leveraging best practice based on input from more than 50 pioneering institutions and experts, this guidance sets out pathways to sustainable growth across five key ocean sectors, chosen for their established connection to private finance. It presents a detailed breakdown of which activities to seek out as best practice, which activities to challenge, and which activities to avoid financing completely due to their damaging nature.
“Decades of unsustainable consumption and production is leading to environmental risks and losses in natural capital, eroding the ocean’s resource base. Without engagement by financial institutions, we will not be able to change the course to sustain a healthy ocean and unlock its enormous potential. 1$ of sustainable ocean investments can yield 5x higher global benefits” said Leticia Carvalho, Head of the Marine and Freshwater Branch, UN Environment Programme.
“This new guidance can help financial institutions invest in good ocean governance at local, regional and global levels. In a nutshell, making sustainable blue economy opportunities too hard to resist” she added.
This guidance provides decision-makers across banking, insurance and investment with a science-based and actionable toolkit, giving easy-to-follow recommendations on how to approach financial activity related to:
- Seafood, including both fisheries and aquaculture as well as their supply chains;
- Maritime transportation;
- Marine renewable energy, notably offshore wind; and
- Coastal and marine tourism, including cruising.
It builds on the foundation of the Sustainable Blue Economy Finance Principles – a keystone for financing activities in the blue economy, supported by a community of over 50 institutions worldwide with a collective total asset size of over USD 6trn.
Duck conservation takes flight in Jamaica
On January 20, 2021, the day of the inauguration of American president Joe Biden, two ducks named “Joe” and “Kamala” took flight from a remote wetland near Negril, Jamaica. And, like their namesakes, the fowl will be the focus of international attention.
That’s because Joe and Kamala are West Indian whistling ducks, the rarest duck species in the Americas, with fewer than 20,000 remaining, found only in the northern Caribbean. Conservationists released the pair, which were outfitted with GPS trackers, into the wild on 20 January, kicking off a study to learn more about their species and, researchers hope, ensure their survival.
BirdsCaribbean is a partner of the United Nations Environment Programme (UNEP). The whistling duck study is supported by UNEP’s Integrating Water, Land and Ecosystems Management in Caribbean Small Island Developing States (IWEco) project.
With one million species are at risk of extinction, biodiversity is a key priority of the UN Environment Programme (UNEP). Ecosystems are fundamental to human health and prosperity, availing food and water, regulating temperature, stimulating economic growth, putting roofs over heads and clothing on backs. As ecosystems degrade, so do human lives.
As the world faces the stark reality that none of the Aichi targets were met and prepares for a new, ambitious post-2020 framework, the issue is more urgent than ever. In fact, biodiversity loss and ecosystem collapse are ranked among the top five threats to humanity in the coming decade.
Whistling ducks’ long-term survival has been threatened by the destruction of their wetland habitats, as well as climate change, pollution, poaching and predators. Little is known about the large waterbird that is between the size of a large duck and a goose, has a long neck, and is mostly brown in colour, but may have black-and-white patches on its neck and flanks. The duck’s characteristic features is its distinctive whistling call.
“We are thrilled with the launch of this exciting project,” said Lisa Sorenson, the Executive Director of BirdsCaribbean. “I expect it will lead to major improvements in our knowledge of the ducks’ movements and habitat use.”
The trackers attached to Joe and Kamala are expected to plot their positions every hour to within a few metres and will help the scientists to know about the species, their migration patterns, nesting sites, feeding zones and roosting locales. Researchers are aiming to use the information gathered through the initiative to plan for the species’ recovery.
Led by UNEP with the backing of the Global Environment Facility, IWEco is helping 10 Caribbean countries manage their water and land resources while safeguarding biodiversity. A key part of the project has been the protection and monitoring of endemic species, like West Indian whistling ducks.
As one of the three founding Global Environment Facility partners, UNEP has been working on conservation projects supported by the facility for almost 30 years.
“Together, UNEP and the Global Environment Facility have successfully worked to address global transboundary issues since 1992, and we look forward to further strengthening and implementing actions for nature,” said Sinikinesh Beyene Jimma head of UNEP’s GEF International Waters Unit.
And while biodiversity targets have not been met, evidence indicates that efforts have produced results. Where action was taken, habitat loss was controlled and decades of degradation were reversed.
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