[CDx Launch Session Summary] Fishbowl 7: Nature-based Solutions and Decarbonization Strategy

Nature-based solutions (NbS) are a non-energy solution that also have a role in corporate decarbonization strategies. This session examined their multi-dimensional benefits, such as biodiversity support, community protection, and improved livelihoods. May Thida Maung of WWF emphasized that investments in NBS should prioritize long-term environmental, social, and climate impacts rather than focusing solely on carbon offsets. Regan Pairojmaha of RECOFTC underscored the importance of securing local community consent and recognizing indigenous land rights to ensure sustainable project outcomes.

Nick Skibiak from SNV emphasized that financial incentives beyond carbon revenue are key to motivating local stakeholders. For instance, farmers are more likely to engage in NBS projects if they see substantial income growth from new markets or higher prices. Kobrat Chotruangprasert of DNV highlighted certification and auditing systems of NbS projects as critical for ensuring project integrity, though their complexity remains a challenge for many organizations.

The session also addressed the need for integrated environmental and social impact assessments to enhance project design. Jérémie de Charentenay of Livelihoods Venture called for aligning government policies with corporate sustainability goals to scale high-quality NbS projects. Participants discussed metrics for evaluating NbS effectiveness, focusing on both tangible outcomes and broader social benefits.

Key Takeaways

· Beyond Carbon Offsets: NbS projects should address broader sustainability challenges, including biodiversity, climate resilience, and livelihood improvements.

· Community Engagement: Genuine involvement of local communities, recognition of indigenous rights, and equitable benefit-sharing are essential for project success.

· Financial Incentives: Offering substantial income growth through new markets or higher prices is more effective than minimal carbon revenues for motivating stakeholders.

· Certification Systems: Robust certification and auditing frameworks ensure project integrity but require simplification to improve accessibility.

· Policy Alignment: Government incentives, streamlined regulations, and protection of indigenous rights are critical for scaling NBS initiatives.

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