0
Constituted Body meetings and events
The Standing Committee on Finance Forum on Finance for Nature-based Solutions (Part II)
26 - 28 Sep. 2022
09:00h - 17:00h
Cairns, Australia
Australia
Climate Finance
UNFCCC
English
0
Constituted Body meetings and events
The Standing Committee on Finance Forum on Finance for Nature-based Solutions (Part II)
26 - 28 Sep. 2022
09:00h - 17:00h
Cairns, Australia
Australia
Climate Finance
UNFCCC
English

Background

The Forum of the Standing Committee on Finance (SCF) provides a platform for a wide range of climate finance stakeholders, including from governments, climate funds, financial institutions, civil society, think tanks and the private sector, to exchange information and promote linkages and coherence in the mobilization and delivery of climate finance.

The SCF agreed to organize the 2021–2022 Forum on the topic of “Finance for Nature-based Solutions” and this agreement was welcomed by the Conference of the Parties at its 25th session. The Forum was organized over two years: Part I was be organized in 2021 in a hybrid format and Part II was organized in-person in 2022. 

The SCF organized the Forum on Finance for Nature-based Solutions (NBS) Part II from 26 to 28 September 2022 in Cairns, Australia. Building on the discussions from Part I of the Forum, the objective of Forum Part II was to explore deeper the issues around financing climate mitigation and adaptation based on the science and principles of nature-based solutions, sharing experiences of developed and developing countries in designing and accessing finance, closing the finance gap, and ways for mobilizing action and scaling-up nature-based solutions.

The preparatory work of the Forum was co-facilitated by two SCF members: Ambassador Mohamed Nasr (Egypt) and Ms. Fiona Gilbert (Australia).

The SCF summarized the outcomes of the Forum and submitted a report to the Conference of the Parties in 2022. 

Forum programme: Please click here to download the programme.

Forum video:

Day 1 (26 September 2022): https://youtu.be/NWFnVUfjn9Q

Day 2 (27 September 2022): https://youtu.be/IlE2BzYWvZc  

Forum report: Please click here to download the report.   

Last updated on 6 December 2022

 

Forum Programme

 

Day 1

26 September 2022

Time

Sessions

9:15–10:00
(45 mins)

Session 1

Opening of the Forum – Welcome to country

Fiona Gilbert, SCF Forum co-facilitator

 

Opening remarks

  • H.E Tanya Plibersek, Minister for Environment and Water, Australia (video)
  • Ovais Sarmad, Deputy Executive Secretary, UNFCCC (video)

Keynote speech

  • Inger Andersen, Executive Director of the United Nations Environment Programme (video)

Perspectives on the urgency of financing the global commitments on nature-based climate action and its significance in supporting sustainable development

10:00–10:30

Coffee break & Family photo

10:30–11:45
(75 mins)

Session 2

Closing the investment gap on nature-based solutions

 

This session will focus on the financing gap in public and private investments for nature-based solutions. Public and private finance institutions will share views on closing the gap and the income- generating opportunities from nature-based solutions. It will also highlight how public and private-sector leadership can mobilize action on nature and re-direct financial flows towards nature and climate.

 

Panel discussion

  • Wawan Gunawan, Deputy Director of Climate Change Resources Support, Ministry of Environment and Forestry, Republic of Indonesia

Perspective on the success stories and challenges to mobilize financial resources for nature-based solutions

  • Valerie Hickey, Global Director of Environment, Natural Resources and Blue Economy, World Bank

Perspective of multilateral development bank to address the USD 4 trillion investment gap by 2050 for nature and climate

  • Gary Wyatt, Chief Executive Officer, Corporate Carbon

Perspectives on unlocking private investments in nature and climate investments

  • Veronica Galmez Marquez, Deputy Director of Division, Mitigation and Adaptation Green Climate Fund (virtual)

Perspectives on directing climate finance flows to enhance the ability to deal with climate change by protecting and reinvigorating natural ecosystems

 

Q&A

Moderator: Sally Box, Head of Delegation to the UNFCCC, Australia

11:45–13:00
(75 mins)

NBS project video & Lunch break

At the beginning of the lunch break, there will be an audio-visual presentation a project that is advancing and accelerating design and investment in nature-based solutions.

13:00–14:10
(70 mins

Session 3

Breakout session on catalyzing nature-based solutions actions in developing countries

 

Breakout group 1

Mainstreaming nature-based solutions in national development and climate plans and budgetary planning processes. Discussion issues will include fiscal policy for nature/climate finance, budget-tagging, accounting systems, role of finance ministries in inter-ministerial cooperation, engagement with sub-national and local authorities.

  • Moderator: Ruel Yamuna, Special Envoy for Climate and Environment, Papua New Guinea
  • Ice breaker: Ambassador Janine Felson, Deputy Permanent Representative for the Permanent Mission of Belize to the United Nations

 

Breakout group 2

Strengthening the enabling environments to increase nature-based solutions actions from public and private sector. Discussion issues will include policy coherence, social and environmental safeguards, harnessing traditional and indigenous knowledge and investment opportunities for private sector

  • Moderator: Stanley Townsend, Finance negotiator, United Kingdom
  • Ice breaker: Nathan Waltham, Associate Professor, James Cook University

 

Breakout group 3

Facilitating financial and technical support and necessary tools to scale-up nature-based solutions actions in developing countries. Discussion issues will include capacity-building, ownership, access to data and knowledge, peer learning across project timelines.

  • Moderator: Oliver Toohey, World Wildlife Fund
  • Ice breaker: Sam Johnston, International Savanna Fire Management Initiative

 

Virtual Break out group 4

  • Moderator: Hayro Hakobyan, PCCB member
  • Ice breaker: Vibha Dhawan, Director General, TERI

14:10–14:40
(30 mins)

Report back of session 3                                                                              

Moderator: Ambassador Diann Black Layne, SCF member

14:40–15:40
(60 mins)

 

Session 4

Catalyzing collective actions on NBS

 

This session will focus on coordinated approaches to incorporate nature-based solutions into national development plans and climate change strategies and balance short-term plans (e.g. five-year plan) with long-term climate and nature targets (e.g. net zero pledges for 2050). It will also look at enabling conditions required to transition the economic system into a climate- and nature-positive system.

 

  • Frances Debra Brown-Reupena, Chief Executive Officer, Ministry of Natural Resources & Environment, Samoa

Perspective on utilizing NBS to address national development priorities and achieve long-term climate targets.

  • Stewart Maginnis, Deputy Director General (Programme), IUCN (virtual)

Approaches to integrate NBS into countries’ development strategies, nature targets, sectoral policies and legal instruments to tackle climate change

  • Kanako Morita, Senior Researcher, Center for Biodiversity and Climate Change

Forestry and Forest Products Research Institute, Japan (virtual)

NBS experiences in developed countries and perspectives on available programming and policy support for nature-based mitigation and adaptation actions in developing countries

  • Kieran Power, Director Sustainability and Climate Change, Deloitte Risk Advisory

Perspectives on enabling conditions to transition the economic system towards nature-positive, low-emission and climate resilient development pathway

 

Q&A

Moderator: Ivan Zambrana, SCF member

15:40–16:00
(20 mins)

Coffee break

16:00–17:10
(70 mins)

Session 5

Breakout session on mobilizing scaled-up finance for nature-based solutions

 

Breakout group 1

Sources of finance for nature-based climate actions and public policies and practices that can scale-up the financial resources. Discussion issues will include multilateral and bilateral sources for climate and nature, national trust funds and philanthropic sources and policy coherence for removing harmful subsidies and encouraging divestments.

  • Moderator: Sum Thy, Deputy Director General, Ministry of Environment, Cambodia
  • Ice breaker: Adrian Ward, CEO, Accounting for Nature Ltd

 

Breakout group 2

Opportunities in nature and climate risk disclosure to improve the transparency of net-zero and nature-positive businesses for sustainable finance flowsDiscussion issues include the work of the Taskforce on Nature-related financial disclosures, increased focus of private investors on nature risk and opportunities for countries to highlight nature-positive investments.  

  • Moderator: Gertraude Wollansky, SCF Co-Chair
  • Ice breaker: Muhammad Fawad Hayat, Ministry of Planning Development & Special Initiatives, Pakistan

 

Breakout group 3

Opportunities and challenges in utilizing financial instruments for nature-based climate actions and provision of technical support for developing countries. Discussion issues will include existing financial instruments (e.g., blended finance, insurance, microfinancing, nature-bonds, etc.), support provided by multilateral and bilateral channels and other international institutions.

  • Moderator: Patrick Martin, Climate Finance Adviser, UNESCAP
  • Ice breaker: Daniela Buchuk Gómez, Ministry of Finance, Chile

 

Virtual Break out group 4

  • Moderator: Lisa Schindler Murray, Rare, Nairobi Work Programme partner

Ice breaker: Jamey Mulligan, Head, Carbon Neutralization Strategy, Amazon & Ivo Mulder, Head (ad interim) of the Climate Finance Unit, UNEP

17:10–17:40
(30 mins)

Report back of session 5

Moderator: Gertraude Wollansky, SCF Co-Chair

17:40–17:50
(10 mins)

Wrap-up of day 1

SCF Forum co-facilitator Fiona Gilbert

Day 2

27 September 2022

 

9:00–9:30
(30 mins)

Opening of day 2

Day 2 will begin with an acknowledgement of country, followed by an address by Henrietta Marrie, an Australian Indigenous Rights Activist, on the importance of harnessing local community and indigenous knowledge and ensuring gender responsive nature-based solutions.

Moderator: Fiona Gilbert, SCF member

09:30–10:30
(60 mins)

Session 6

Mobilizing and delivering finance for nature-based mitigation and adaptation

 

This session will focus on ways to scale-up the mobilization of financial resources for nature-based climate actions in developing countries. It will look at financial sources and instruments that can be utilized by actors at different levels and the technical support needed. It will also look at enabling environments that can scale-up finance from private and innovative financial sources and ways to ensure coherence of policies and regulations.

 

Panel discussion

  • Payai Manyok John, Deputy Director, Climate Change, Ministry of Environment and Forests, South Sudan

Perspectives on mobilizing financial resources from domestic and international sources for implementing NBS projects

  • Laura Waterford, Director, Pollination Foundation

Perspectives on mobilizing public and private finance for Delta Blue Carbon project and the potential of voluntary carbon / biodiversity credit as a financing mechanism for climate and nature

  • Isao Endo, Environment Specialist, Asian Development Bank

Perspectives of multilateral development bank on providing financial and technical support to developing countries on nature-based solutions in line with their national development plans and climate change strategies

  • Emma Penzo, Head of Economic Policy, Australian banking association

Perspectives on de-risking investments on nature and climate and the role of financial disclosures as global risk management framework

Q&A

Moderator: Abdelrahman Al Gwaiz, SCF member

10:30–10:45
(15 mins)

Coffee break

10:45–12:00
(75 mins)

Session 7

Breakout on delivery of and access to nature-based solutions finance

 

Breakout group 1

Building the capacity of developing countries’ institutions to access international finance for nature-based solutions.  Discussion issues will include importance of national institutions to strengthen ownership, long-term capacity-building tailored across the entire project cycle, available international support programs, South-South cooperation and international platforms to exchanges lessons learned on accessing NBS finance.

  • Moderator: Michai Robertson, Adviser, AOSIS
  • Ice breaker: Raju Pandit, Nepal

 

Breakout group 2

Supporting access to nature-based solutions finance by sub-national and local actors. Discussion issues will include available tools and data for project formulation, available international support for project formulation, engagement with sub-national and local actors from the planning phase, articulation by multilateral/bilateral channels for local actors’ access to finance, utilization of indigenous knowledge.

  • Moderator: Rafael Moser, The Local Climate Adaptive Living Facility, UNCDF
  • Ice breaker: Mrinal Kanti Tripura, Director, Maleya Foundation, Bangladesh

 

Breakout group 3

Strengthening the business case for private sector, including MSMEs. Discussion issues will include options to reduce the capital costs and financial risks for small and micro businesses, available support programmes that promote financial instruments for local businesses and the role of partnerships between investors, large business and MSMEs.

  • Moderator: Toru Sugio, SCF member
  • Ice breaker: Farhina Ahmed, Secretary, Ministry of Environment, Forest and Climate Change, Bangladesh

 

Virtual Break out group 4

Moderator: Tracy Bach, Professor of Law, Washington University in St. Louis (tbc)

Ice breaker: Paul M. Hartman, Nature, People and Climate program, Climate Investment Fund

12:00–12:30
(30 mins)

Report-back of Session 7

Moderator: Kevin Adams, SCF member

12:30–13:30
(60 mins)

Lunch break

13:30–14:30
(60 mins)

Session 8

Enhancing access to finance for nature-based solutions

 

This session will focus on ways to facilitate developing countries’ access to finance for nature-based solutions. It will look at building the capacity of developing countries to access international sources of financing and available support and tools for formulating and implementing nature-based solutions. It will also look at the role of local and indigenous actors, including smallholders, women and micro-, small-, and medium-sized enterprises (MSMEs), to plan and implement nature-based climate actions and explore ways to facilitate their access to finance.

 

Panel discussion

  • Agustin Carrizosa Bradshaw, Climate Change Specialist, Ministry of Environment and Sustainable Development, Paraguay

Perspectives on accessing international climate finance for ecosystem-based adaptation programmes

  • Bradley Hiller, Lead Climate Change Specialist, Islamic Development Bank

Perspectives on supporting national institutions of developing countries to access finance for nature-based mitigation and adaptation actions

  • Rawleston Moore, Lead, Climate Change Adaptation, Global Environment Facility (tbc)

Perspectives on facilitating access for developing countries to access finance for nature-based mitigation and adaptation actions during the GEF-8 replenishment period.

  • Simone Lovera, Executive Director, Global Forest Coalition

Perspectives on promoting gender-responsive nature-based solutions and enhancing women’s and youth access to finance

 

Q&A

Moderator: Zaheer Fakir, SCF Co-chair

14:30–15:30
(60 mins)

Session 9

Session on key outcomes and recommendations

Based on the two days of discussions, participants will deliberate on actions at the international, national, sub-national levels that may be pursued by actors and institutions taking part in the Forum, to address the barriers and mobilize and access finance for nature-based solutions.

The discussions on the way forward would include key take-aways and high-level recommendations for the COP and, suggestions for the Financial Mechanism, including its operating entities and bilateral, regional and other multilateral channels of climate finance.

 

Break out group 1

Moderator: Kevin Adams, SCF member

 

Break out group 2

Moderator: Zaheer Fakir, SCF Co-Chair

 

Virtual Break out group 3

Moderator: SCF member (tbc)

15:30–16:00
(30 mins)

Coffee break

16:00–16:50
(50 mins)

Report-back and way forward discussions

 

16:50–17:15
(25 mins)

Wrap-up of day 2 and information on day 3

Day 3

28 September 2022

08:40–17:30

Field trip to an NBS project site