Mobilizing Financial Resources to Turn the “potential” into the “practical” market

Mobilizing Financial

Resources

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to Turn the “potential” into the “practical”

market

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Biodiversity

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and

climate

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change

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are vital to the survival and prosperity of human

society

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. The data shows US$ 44 trillion of economic value generation— accounting for 52% of global GDP —is moderately or highly dependent on nature and its services. Meanwhile, studies have shown that the current extinction rates on the earth are 1,000 times higher than natural rates, which exposed us to risks from nature loss. The latest IPCC report

also

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pointed out that the world may reach or even exceed a temperature rise of 1.5 ℃ ten years ahead of

previous

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the previous

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prediction. There is the

last

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historic opportunity we must

to

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apply

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seize upon for our planet, and more for ourselves. It is possible to synergy the efforts on

climate

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change

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and

biodiversity

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with better results than addressing them independently since they are deeply intertwined. At present, addressing

climate

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change

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has gradually become a global consensus. More than 130 countries have made commitments to achieve carbon neutrality and actively promote the mainstreaming of greenhouse gas

emission

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reduction

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in various industries and fields.

In contrast

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,

biodiversity

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conservation

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has not yet become the highest priority in

decision-makers‘

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decision-makers

agenda, nor been included in the codes of conduct and norms of

business

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the business

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. There is a lack of

sound

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a sound

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mechanism

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mechanisms

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for assessing and realizing the value of natural system services. Overall,

biodiversity

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conservation

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is emphasized in talks

,

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but forgotten in walks. Statistics show that the funding gap for global

biodiversity

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conservation

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in the

next

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decade will be between US$ 598 billion and 824 billion per year. Bridging the gap needs

the

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apply

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systematic

change

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. Identifying the problem is only the

first

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step. Solving and preventing problems, or even turning them into opportunities, is what we pursue. Experience has taught us that it would be far from enough to solve the above problems only by relying on

the

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apply

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government

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investment。 Financial Institute, business engagement and

market

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force

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forces

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are recognized as the great hope for

conservation

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because they could bring far exceed the

resources

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from governments and philanthropy.

However

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,

this

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is based on the premise that financial

institutions

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have sufficient knowledge and awareness of

biodiversity

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and

climate

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change

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issues. From vision to action, it is necessary to have

strong

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the strong

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political will and foster to build up sound

market

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mechanisms. It is not easy to establish an effective

market

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mechanism, and it requires the cooperation of the

government

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, academia, private sectors, NGOs, media, and the public.

Government

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roles are pivotal with 4 essential steps: create

market

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demands, incentivize supplies, reduce transaction

costs

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, and ensure

market

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operation. These are crucial to mobilize financial

resources

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for a nature positive and

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climate friendly

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climate-friendly

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society

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. Creating

market

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demand depends on turning the potential public demand of the whole

society

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,

such

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as addressing

climate

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change

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and

biodiversity

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protection, into actual

market

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demand. It is a property right determined by specifying the

market

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entity's share of

emission

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reduction

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. The responsibility to reduce emissions should be based on long-term planning to ensure the long-term stability expected by the

market

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and

thus

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worthy of investment. Encouraging multi-party supply means encouraging all industries and related stakeholders including the public to take

actions

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action

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together. Because of the difference in

emission

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reduction

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costs

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in different fields, the value of carbon assets and natural assets can be realized through trading, forming incentives and reducing

emission

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reduction

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costs

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in the whole

society

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. At the same time, ensuring

market

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operation is fundamental. The

government

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needs to develop and implement monitoring or certificating standards to maintain

market

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order. Especially when the cost of mitigation varies little, reducing transaction

costs

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is vital. Digital technology can not only help companies improve energy efficiency, but

also

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enable reliable, traceable and verifiable measurements of carbon emissions. The technical input and development of China's digital networks and blockchain can contribute to the systematic

reduction

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of transaction

costs

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and has great potential to develop into a new Chinese advantage. The World

Resources

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Institute is actively advocating creating Partnership on

Biodiversity

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and Finance(PBF) through establishing a cooperation mechanism among financial

institutions

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, social organizations, enterprises, and governments, to provide financial

institutions

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with more detailed information and knowledge on

biodiversity

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conservation

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and

climate

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change

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; reduce corporates ‘operating

costs

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and investment risks; develop innovative tools together to address

climate

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and

biodiversity

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risks; enhance

government

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support for financial

institutions

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; and

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, and

;

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explore opportunities and new possibilities in the entire investment and financing chain to prom