UNLOCKING NATURE’S POTENTIAL Forests related Nature-based Solutions to address climate change and promote sustainable development

Active participation of business is a core driver in achieving international environment and development agreements, namely the Paris Agreement, the Convention on Biological Diversity (CBD) and the Sustainable Development Goals (SDGs), and their contribution should be promoted. This briefing describes the increasing importance of NbS in the main international regimes related to climate and biodiversity, assessing the private sector’s potential in driving NbS forward. It presents cases of NbS being implemented and supported by companies responding to CDP’s forests questionnaire and provides a set of recommendations for policymakers to strengthen the private sector’s engagement with NbS.

This policy briefing is CDP’s first look at the actions taken by companies on Nature-based Solutions within its forests’ disclosure data. It is aimed at policymakers seeking to understand the role of the private sector in unlocking the potential of Nature-based Solutions as a cost-effective tool to support a responsible forest-risk commodity value chain and in delivering a 1.5°C, deforestation-free world. CDP looked at the responses of 543 companies to CDP’s 2019 Forests Questionnaires and analyzed the answers to provide evidence on how NbS is being implemented. CDP data constitutes the most comprehensive collection of self-reported private sector environmental data in the world. It provides a unique and unparalleled wealth of information on how companies are currently using NbS.

KEY FINDINGS

• 15% of the responding companies are implementing and supporting NbS, showing a large potential for growth and space for positive policy incentives.
• Companies in Asia lead in reporting NbS through CDP’s Forests Questionnaire, while companies in Central and South America are lagging.
• Companies in the Materials sector lead in reporting NbS, and the Services and Hospitality sectors also perform above average.
• There is a similar rate of NbS reporting for companies disclosing on CDP’sfour Forest Risk Commodities, with companies disclosing on Timber having a slightly higher percentage.
• Forest conservation and reforestation are the most commonly implemented categories of NbS implemented by disclosing companies.

https://www.researchgate.net/publication/342438063_Unlocking_nature%27s_potential_Forests_related_Nature-based_Solutions_to_address_climate_change_and_promote_sustainable_development