Green Finance and Nature-based Solutions Workshop

Nature-based Solutions (NbS) have the potential to provide over one-third of the climate mitigation needed for our global 2 °C climate goal. Improving the carbon sequestration of eco-systems, including forests, grasslands, wetlands, oceans, soils, and frozen soils, is an important mechanism for achieving China’s 30·60 climate goal. However, adequate investment is needed to fully explore the potential of NbS. To discuss how green finance may best support NbS actions in China, NRDC and the China Green Carbon Foundation (CGCF) co-organized a multi-stakeholder workshop entitled, “Green Finance and Nature-based Solutions” on May 14 in Beijing. Policy makers and experts from China’s National Forestry and Grassland Administration (NFGA) and the Ministry of Natural Resources presented on the policy landscape of carbon sequestration and how NbS could contribute to the carbon neutrality goal. Financial experts shared approaches and practices for enhancing carbon sequestration increase. The workshop also included a closed-door portion to identify and discuss the challenges and possible solutions for utilizing financial instruments to support NbS. About 40 participants, including policy makers, commercial banks, the forestry industry, financial experts, and forestry scientists joined the discussion and provided insightful recommendations for carbon sequestration accounting and accreditation, quantification of the economic values of ecosystem services, and ownership of carbon sequestration benefits. NRDC and CGCF summarized these recommendations and shared them with policy makers to support NFGA’s ongoing efforts in the formulation of China’s “Action Plan for Carbon Sequestration in Forestry and Grasslands”.