Increased investment in nature capital should be incentivised: Global Commission

Increased investment in natural capital unlocks the benefits of nature-based solutions for infrastructure and should be further incentivised, said a report by Global Commission on BiodiverCities.

The recommendation was made on the report "BiodiverCities by 2030: transforming cities' relationship with nature", published on Tuesday (17 January), said a press release.

The initiative has been led jointly by the World Economic Forum and the Alexander von Humboldt Biological Resources Research Institute, and championed by the Government of Colombia. It was produced in collaboration with Arup and AlphaBeta.

According to the press release, the findings of the report aim to support city governments, businesses and citizens to make choices that enable cities to live in harmony with nature by 2030.

The report calls on cities, as one of the crucial players in reversing nature loss and climate change.

It articulates the opportunity for urban leaders and citizens to transform their cities' relationship with nature through nine key messages.

The report said, "An 'urban era' is taking place which requires urban leaders and decision-makers to play a key role in shaping a sustainable, resilient and prosperous future for all. Rapid urban expansion has come at the expense of climate, nature and the economy. Business as usual is no longer an option; cities must act now to rebalance their relationship with nature."

"BiodiverCities by 2030 sets a vision of cities as living systems, where their economic, social and ecological functions come together in harmony. BiodiverCities have five characteristics, guiding nature-positive actions on infrastructure, governance, economy, health and wellbeing," stated the report.

The report further added strategies with regard to shifting, re-integrating and expanding of systems saying, "By shifting investment to nature-based solutions (NbS) for infrastructure, cities can build a climate-resilient built environment while lessening their impact on biodiversity. Expanding nature in the built environment creates significant economic and social value and create jobs dedicated to restoring and protecting natural ecosystems."

"Shifting to a systems approach to urban governance is one of three key conditions to cities achieving the BiodiverCities vision and capturing these opportunities. Re-integrating local ecosystems in the urban planning process is a condition to realizing the BiodiverCities vision. It entails preserving existing natural habitats, re-naturing degraded or sub-optimized land and 'growing smart' with new or upgraded infrastructure."

The report also discussed the impact of cities' nature-positive actions (through both NbS and land-sparing interventions) saying that it varies by sector, region and level of urbanisation. "NbS for infrastructure are best applied to water supply, pollution and climate adaptation and mitigation projects, and are most effective for cities in Asia Pacific, Africa and Latin America."

Experts consulted for the formulation of the Report include chairs of the Global Commission on BiodiverCities by 2030 Lena Chan, senior director, International Biodiversity Conservation, National Parks Board, Singapore and Mauricio Rodas Espinel, visiting scholar, University of Pennsylvania.

Special Envoy of the Climate Vulnerable Forum, (CVF) Presidency of Bangladesh, Abul Kalam Azad, has also contributed to the development of the report, including Adriana Lobo of WRI, Aziza Akhmouch OECD and many more.

The CVF Presidency along with the newly formed Society of Experts on Environment Development (SEED) will engage in dissemination of the report as well as active contribution in integrating nature-positive pathways towards building a more resilient urban landscape and future.