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UN
Global Climate Action
9
December
2023 | |
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Top
of the COP
High-Level
Champions' Newsletter for
COP28 | |
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The ambition loop is
in motion - across coasts, ocean and
land | |
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Governments
and markets are coalescing at unprecedented scale
to realize the transformational potential of
nature as a driver of climate momentum and
resilience.
Biodiversity
- USD
2.5 billion nature finance propelled towards USD
200 billion target: A
pivotal event is expected to extend USD 2.5
billion of nature finance (secured at COP28),
into a giant stride towards the biodiversity
funding target of USD 200 billion per year by
2030.
At the High-Level event, governments, Indigenous
Peoples, communities, civil society, and the
private sector will channel the USD 2.5 billion
to drive progress against the Kunming-Montreal Global
Biodiversity Framework (KMGBF),
including the 30x30 nature protection target.
The upsurge in nature finance not only starts a
self-reinforcing cycle on adaptation and
resilience, but also helps to unlock the
potential for nature to provide a third of the
needed mitigation solutions by 2030. The meeting
will also discuss how to scale nature funding
towards the USD 200 billion per year
biodiversity funding target by 2030, and at
least USD 20 billion per year in international
biodiversity finance by 2025.
Coastal
protection
- The
ambition loop is turning for mangrove
protection: Ministers
and non-State actors assemble today to protect
and restore 15 million hectares of mangroves by
2030, through USD 4bn of sustainable finance. 49
governments (representing around 60% of the
world’s mangroves) and over 50 non-state actors
are supporting the Mangrove Breakthrough targets
to restore and protect 15 million hectares of
mangroves, and to halt mangrove destruction by
2030. Political momentum has never been higher
to realize mangroves’ massive potential as a
carbon sink (mangroves can sequester 4x as much
atmospheric carbon as rainforests), protect
coastlines, provide habitats, and support local
livelihoods. Germany, Norway and the UK will
announce funding today, to address the drastic
underfunding of mangrove protection - and to
deliver on its game-changing potential.
Ocean
- Non-State
actors signal demand for ‘Sustainable Ocean
Plans: Major
economic players today present a call for
Sustainable Ocean Plans to catalyse markets,
while underpinning the achievement of the Ocean
Breakthroughs and the Sharm El Sheikh Adaptation
Agenda.
The Climate Champions team, working with the
UN Global Compact,
World Economic Forum
and the High Level Panel for a Sustainable
Ocean Economy
secretariat, shaped the Declaration, which has
been signed by 40 companies, including Ørsted,
Iberostar Group and Thai Union. Sustainable Ocean Plans
are a powerful mechanism for governments to
realize the ocean’s potential for mitigating and
adapting to climate change, while promoting
biodiversity conservation and sustainable
economic development.
Land
use
- Five
countries release land restoration roadmap:
Environment
ministers from five countries, along with global
non-State actors, will unveil a roadmap to
accelerate land restoration and climate action,
underscoring a potent collaborative effort to
restore one billion hectares worldwide by COP30,
2025. Partner organizations, including G20 Global Land
Initiative,
UN Decade of Ecosystem
Restoration,
will announce new commitments and share best
practices in land restoration and conservation
at the event.
Shipping
- Shipping
framework catalyses climate & nature
positive action: A
new cross-cutting framework launches today to
support the maritime sector to assess, manage
and track marine biodiversity impacts. The
Sustainable Shipping
Initiative
and Equal Routes,
supported by the UN Climate Change High-Level
Champions and the UN Foundation
will launch the framework, catalysing action on
marine biodiversity measures - from addressing
noise pollution, to invasive species and marine
life collisions. A Q&A with Andrew Dumbrille
& Elissama Menezes from Equal Routes, can be
found here,
linking to the new report.
- “Later
is too late” - Call for a 1.5C-aligned response
to the Global Stocktake: 800+
signatories from across business, finance,
philanthropy, politics, academia and civil
society have called for all Parties to deliver
a 1.5C aligned outcome in response to the Global
Stocktake.
The statement highlights that ‘’... the
signals of transformation and opportunity across
sectors and society are all around us. At the
same time, the climate emergency is biting
harder than ever.”
- Race
to Zero rallies progress on nature: Race
to Zero’s latest Progress Report
shows that nature protection and restoration is
becoming embedded into key drivers of our
economies. Through the Nature Positive for Climate
Action
campaign, a myriad of Race to Zero members are
integrating nature into climate transition
plans.
For
example:
- Race
to Zero member, asset manager, RobecoSAM
has launched specific biodiversity
investment strategies.
- Unilever
is embedding nature into its transition plans,
with plans to achieve deforestation-free supply chains
for five commodities.
- Scotch Whisky Association
are launching nature programmes focusing on
issues such as water
and responsible peat use restoration.
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About the High-Level
Champions | |
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Created
under the Paris Agreement, the UN Climate Change
High-Level Champions have a mandate to connect the
work of national governments with voluntary and
collaborative action taken by cities, regions,
businesses, investors and civil society worldwide.
Through the Race to Zero
and Race to Resilience
campaigns, the Champions are mobilizing robust,
science-based commitments and actions to reduce
emissions, build resilience and end nature loss in
line with limiting global warming to
1.5C.
For
more news from COP28, visit climatechampions.unfccc.int. | |
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Call
for major climate action announcements: Global
Climate Action
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The
secretariat is tracking major climate action
announcements made at COP 28 – including the
launch of initiatives and declarations and the
reporting of progress information on existing
initiatives and declarations.
The
announcements will be featured on the COP 28 Event
page of the UNFCCC’s Global Climate Action Portal
and will help inform the global climate action
outcomes at COP 28. You can notify us of your
announcements using this form. | |
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