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BVI, Costa Rica - ECLAC dialogue on priorities of regional SDGs

Costa Rica celebrates U S support of global environmental plan

Can banks reverse course to become a solution to global deforestation?

Banks have faced increasing criticism in recent years over their ongoing financial support for environmentally destructive industries, but by tweaking their practices they could become part a critical part of the solution to escalating deforestation and habitat destruction worldwide. That is the core message this month from research by the University of Cambridge Institute for Sustainability Leadership (CISL), which outlines a set of five key actions banks and other financial firms can take to help respond to the biodiversity and climate crises, de-risking their investments in the process. Released in mid-January, the report from CISL s Centre for Sustainable Finance focuses on soft commodities, such as palm oil, soy, beef and timber products, which are responsible for most deforestation worldwide caused by commercial agriculture.

Interest Grows In Funding Nature-Based Climate Solutions

Interest Grows In Funding Nature-Based Climate Solutions Submitted by on 25 January 2021 What’s happening? French President Emmanuel Macron and UK Prime Minister Boris Johnson will invest part of their countries climate finance in nature-based projects and have urged other nations to follow suit. Macron, during the recent One Planet Summit, pledged 30% of France s climate funding by 2030, while Johnson offered £3bn ($4bn) of the UK s £11.6bn global financing commitment by 2025. Natural solutions reversing biodiversity loss can meet as much as 37% of the emissions reduction needed to prevent global temperatures from rising above 2C, according to The Nature Conservancy. Why does this matter? Investing in nature-based projects utilises natural solutions to effectively protect biodiversity and ecosystems, and helps to reduce greenhouse gas emissions, while also mitigating the impacts of climate change.

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