An investment coalition led by the World Climate Foundation aims to mobilise tens of billions in commitments from the private sector to nature-based investments by 2030.
The Nature Investment Coalition (NIC), launched at the Climate Investment Summit in London, is a global cross-sector collaborative platform focused on closing the gap in financing for nature-based solutions to halt and reverse biodiversity loss.
Recognising the key role of the private sector in scaling up nature financing, the NIC is an initiative to establish public-private partnerships across finance, business, and government to drive investment in ecosystem protection and restoration.
The United Nations Environment Programme (UNEP) estimated global finance flows to nature-based solutions must triple to around $542bn (£429bn) per year by 2030 to meet the goals of the Kunming-Montreal Global Biodiversity Framework (GBF).
Meanwhile, the Foundation’s existing Climate Investment Coalition (CIC), a public-private partnership initiative that has facilitated large-scale financial commitments and partnerships across the Nordics in recent years, announced plans to expand globally.
This is to address the “escalating urgency” of climate change and its presence as a “universal challenge requiring coordinated, cross-border efforts,” Jens Nielsen, chief executive of World Climate Foundation, said.
He added: “A global reach will allow CIC to harness diverse financial markets, tap into a wide array of innovative green technologies, and foster international partnerships.”
The NIC seeks to replicate the success of CIC, which in 2021, facilitated a total $130bn (£103bn) commitment from 42 pension funds across Denmark, Norway, Sweden, Finland, Iceland, the Faroe Islands, and the UK to invest in climate solutions by 2030.
At the Climate Investment Summit, Jens Nielsen said: “In order to set humanity on the path to a net-zero future by 2030, we need to see an explosion of financing for innovative climate solutions.
“The CIC’s success in the Nordics has shown what can be achieved through collaboration and coalition-building at a regional level. In the coming years, a key priority will be to promote and replicate successful green investment models on a global scale.
“I wish to extend a sincere thank you to our committing partners and warmly invite new collaborators from both public and private sectors – asset owners, asset managers, developers, governments, and think tanks to join us in this transformative journey. Together, let us forge a path towards a resilient and sustainable future for all.”
