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1、Nature-based Solutions for corporate climate targetsViews regarding the corporate use of Nature-based Solutions to meet net-zero goalsA.Vidal,G.Martinez,B.Drion,J.Gladstone,A.Andrade,and L.Vasseur INTERNATIONAL UNION FOR CONSERVATION OF NATUREAbout IUCNIUCN(International Union for Conservation of Na

2、ture)is a membership Union uniquely composed of both government and civil society organisations.It provides public,private and non-governmental organisations with the knowledge and tools that enable human progress,economic development and nature conservation to take place together.Created in 1948,IU

3、CN is now the worlds largest and most diverse environmental network,harnessing the knowledge,resources and reach of more than 1,400 Member organisations and around 15,000 experts.It is a leading provider of conservation data,assessments and analysis.Its broad membership enables IUCN to fill the role

4、 of incubator and trusted repository of best practices,tools and international standards.IUCN provides a neutral space where diverse stakeholders,including governments,non-governmental organisations,scientists,businesses,local communities,Indigenous peoples,organisations,and others,can work together

5、 to forge and implement solutions to environmental challenges and achieve sustainable development.Working with many partners and supporters,IUCN implements a large and diverse portfolio of conservation projects worldwide.Combining the latest science with the traditional knowledge of local communitie

6、s,these projects work to reverse habitat loss,restore ecosystems and improve peoples well-being.www.iucn.org Solutions for corporate climate targetsViews regarding the corporate use of Nature-based Solutions to meet net-zero goalsA.Vidal,G.Martinez,B.Drion,J.Gladstone,A.Andrade,and L.Vasseur The des

7、ignation of geographical entities in this book,and the presentation of the material,do not imply the expression of any opinion whatsoever on the part of IUCN or other participating organisations concerning the legal status of any country,territory,or area,or of its authorities,or concerning the deli

8、mitation of its frontiers or boundaries.The views expressed in this publication do not necessarily reflect those of IUCN or other participating organisations.IUCN is pleased to acknowledge the support of its Framework Partners who provide core funding:Ministry of Foreign Affairs,Denmark;Ministry for

9、 Foreign Affairs,Finland;Government of France and the French Development Agency(AFD);Ministry of Environment,Republic of Korea;Ministry of the Environment,Climate and Sustainable Development,Grand Duchy of Luxembourg;the Norwegian Agency for Development Cooperation(Norad);the Swedish International D

10、evelopment Cooperation Agency(Sida);the Swiss Agency for Development and Cooperation and the United States Department of State.This publication has been made possible by funding from the Government of France and the French Development Agency(AFD).Published by:IUCN,Gland,SwitzerlandProduced by:IUCN C

11、entre for Economy and Finance Climate Change TeamCopyright:2023 IUCN,International Union for Conservation of Nature and Natural Resources Reproduction of this publication for educational or other non-commercial purposes is authorised without prior written permission from the copyright holder,provide

12、d the source is fully acknowledged.Reproduction of this publication for resale or other commercial purposes is prohibited without prior written permission of the copyright holder.Recommended citation:Vidal,A.,Martinez,G.,Drion,B.,Gladstone,J.,Andrade,A.&Vasseur,L.(2023).Nature-based Solutions for co

13、rporate climate targets.Views regarding the corporate use of Nature-based Solutions to meet net-zero goals.Gland,Switzerland:IUCN.ISBN:978-2-8317-2253-5(PDF)DOI:https:/doi.org/10.2305/ELGL1056Cover photo:musicphone1/iStockLayout and design:Imre Sebestyn,jr./Unit GraphicsEdited by:Scriptoriaiii Natur

14、e-based Solutions for corporate climate targetsViews regarding the corporate use of Nature-based Solutions to meet net-zero goalsTable of contentsExecutive summary.vAcknowledgements.viiAcronyms.viiiGlossary of definitions.ix1.Introduction.12.Nature-based Solutions and climate change mitigation.52.1.

15、Nature-based Solutions definition and global standard.52.2.The role of Nature-based Solutions in a Paris-aligned pathway.132.3.The Global Standard for Nature-based SolutionsTM in the context of net zero.143.Nature-based Solutions in corporate climate strategies.173.1.Assessing and disclosing climate

16、 and nature-related risks.183.2.Setting and achieving credible net-zero targets.203.3.Neutralising residual emissions.254.Nature-based Solutions and societal net zero.274.1.Nature-based Solutions in beyond value chain mitigation.274.2.Nature-based Solutions and carbon credits.304.3.Responsible use o

17、f carbon credits and guardrails.325.Conclusions and further discussion.376.Annexes .396.1.Annex A Core Carbon Principles for high-integrity carbon credits.396.2.Annex B Emerging guidance on responsible use of Nature-based Solutions.40Endnotes.42ivNature-based Solutions for corporate climate targetsV

18、iews regarding the corporate use of Nature-based Solutions to meet net-zero goalsList of boxes,tables and figuresBox 1.Addressing trade-offs between biodiversity and climate change.10Box 2.Nature-related measures in the context of the 1.5C-aligned pathway.13Box 3.Emerging nature-related reporting gu

19、idance.19Box 4.SBTi 1.5C-aligned pathways.21Box 5.Climate and nature targets.23Box 6.NbS insetting.25Box 7.Residual emissions.26Box 8.Clarifying terminology related to climate removals.30Box 9.Positive outcomes for the people and the planet.32Box 10.Double counting.33Box 11.Carbon methodologies and

20、standards.34Table 1.IUCN Global Standard for NbS criteria and indicators.11Table 2.Existing and forthcoming guidelines for utilising NbS to meet net-zero targets.17Table 3.The use of NbS in corporate and societal net zero.29Table 4.Definitions of criteria for high-quality carbon credits.31Table 5.Co

21、re Carbon Principle sustainable development benefits and safeguards related to the themes of the IUCN Global Standard for NbS Criteria.35Figure 1.Defining Nature-based Solutions.5Figure 2.What are Nature-based Solutions(NbS)?.7Figure 3.The eight criteria of the IUCN Global Standard for NbSTM.8Figure

22、 4.GHG emissions pathways with removals.13Figure 5.Key elements of a net-zero approach.22Figure 6.Opportunities to apply NbS for non-FLAG sector companies.22Figure 7.Opportunities to apply NbS within the FLAG sector.24Figure 8.Use of removals and neutralisation to meet societal and corporate net zer

23、o.28v Nature-based Solutions for corporate climate targetsViews regarding the corporate use of Nature-based Solutions to meet net-zero goalsExecutive summaryAchieving societal net zero greenhouse gas emissions is a collective goal for all stakeholders from governments to businesses and civil society

24、.The goal is explicitly recognised in Article 4 of the Paris Agreement,which defines net zero as“a balance between anthropogenic emissions by sources and removals by sinks of greenhouse gases in the second half of this century.”A companion goal signed at the 15th Conference of Parties to the UN Conv

25、ention on Biological Diversity in 2022 aims to halt and reverse biodiversity loss this decade and foster full nature recovery by 2050.Non-state actors are mobilised towards more ambitious climate action under the Paris Agreement through the Marrakech Partnership for Global Climate Action and the Bre

26、akthrough Agenda launched in 2022,which builds on the 2030 Breakthroughs.The Agenda and Breakthroughs set up a direction of action directly connected with nature,land and oceans,aiming to generate systemic transformation to allow nature to foster mitigation,adaptation and resilience outcomes.In the

27、context of mitigation potential,agriculture,forestry,wetlands and bioenergy could feasibly contribute about 30%of the global mitigation needed to limit warming to 1.5C by 2050.The share of mitigation potential from this sector may be even higher in the near term;with up to 37%of the emissions mitiga

28、tion needed until 2030.Nature-based Solutions(NbS)are activities undertaken to protect,sustainably manage and restore natural and modified ecosystems to simultaneously benefit people and nature.NbS are critical to addressing challenges like climate change,food security,water security,disaster risk,h

29、uman health,and social and economic development.NbS balances conservation with sustainable development and showcases how nature can benefit societal and human well-being.Therefore,NbS are critical to achieving a low-carbon future while facilitating climate change adaptation and resilience and suppor

30、ting other critical ecosystem functions.This publication outlines the available pathways to include NbS in corporate climate strategies consistent with the NbS definition,principles and Global Standard for NbS.When correctly implemented,NbS can contribute to climate mitigation and adaptation while o

31、ffering important benefits for biodiversity and human well-being.Sam maulidna/ShutterstockviNature-based Solutions for corporate climate targetsViews regarding the corporate use of Nature-based Solutions to meet net-zero goalsRecommendations:The climate and nature crises are interconnected;thus,appl

32、ying NbS should also be designed to address those interconnections,creating benefits at both levels.NbS is central to land-intensive sectors efforts to decrease emissions and achieve net-zero targets and nature-positive outcomes in their value chains.There is a need for greater clarity from standard

33、 setters such as the SBTi on the use of NbS in neutralising residual emissions once a company has delivered its long-term science-based target.The current discussions1 refer that companies should scale up investments now in carbon removals for neutralisation purposes to promote availability and scal

34、ability,noting that these investments could only be quantified towards a net-zero target when their long-term target is achieved.Residual emissions should decrease over time as emissions are increasingly abated directly.In addition,companies across all sectors should invest immediately in reductions

35、 and removals beyond their value chains to meet societal net zero.To meet societal net zero and biodiversity net-positive targets by 2050,investments in NbS beyond operational and value chains are essential,including actions to safeguard nature and not just because of its connection with mitigation

36、outcomes.When the climate change mitigation linkage is present,beyond value chain mitigation would include investments in,and/or purchasing carbon credits from,interventions that avoid or reduce emissions from deforestation and forest degradation,and capture and store carbon via restoration of natur

37、al forest and non-forest ecosystems.Companies must develop and implement NbS with longevity in mind.An ambitious and rapid scaling-up of NbS must be implemented thoughtfully,guided by the Global Standard for NbSTM,so that it does not cause any detriment to human rights,equity and biodiversity.This r

38、equires a long-term look at their impacts on carbon storage,biodiversity and the Sustainable Development Goals.The incorrect deployment of NbS could result in negative,unintended consequences for nature and society.For this reason,NbS implementation should be guided by the Global Standard for NbSTM

39、alongside science-based net-zero standards,science-based targets for nature,as well as credible and transparent carbon accounting methodologies and carbon market standards.Companies should follow the best available science-based standards and guidelines to provide direction to their investments,for

40、instance,from the IUCN Measuring Nature-Positive Approach(under development),the Science Based Targets Network and Science Based Targets initiative.vii Nature-based Solutions for corporate climate targetsViews regarding the corporate use of Nature-based Solutions to meet net-zero goalsAcknowledgemen

41、tsA peer review process elicited detailed feedback from Kaya Axelsson,Myles Allen,Tim Christophersen,Rahul Barua,Scarlett Benson and Gustavo Souza.The authors express sincere thanks for the thorough feedback received which helped shape this publication.IUCN would also like to acknowledge and thank t

42、he technical and strategic support of the following persons:Christina Voigt(IUCN WCEL),Manuel Pulgar-Vidal(IUCN CCC),Frank Hawkins and IUCN Secretariat staff members Stewart Maginnis,Chris Buss,Ali Raza,Rachel Asante,Liza Murphy and Sandeep Sengupta.viiiNature-based Solutions for corporate climate t

43、argetsViews regarding the corporate use of Nature-based Solutions to meet net-zero goalsAcronymsAFOLU Agriculture,forestry and other land useBVCM Beyond value chain mitigationCCP Core Carbon PrinciplesFLAG Forest,Land and AgricultureGBF The Kunming-Montreal Global Biodiversity FrameworkGHG Greenhous

44、e gasIC-VCM Integrity Council for the Voluntary Carbon MarketIPCC Intergovernmental Panel on Climate ChangeIPLCs Indigenous peoples and local communitiesIUCN International Union for Conservation of NatureNbS Nature-based SolutionsNCS Natural climate solutionsREDD+Reducing Emissions from Deforestatio

45、n and forest Degradation in developing countriesSBTi Science Based Targets initiativeSBTN Science Based Targets NetworkTCFD Task Force on Climate-related Financial DisclosuresTNFD Task Force on Nature-related Financial DisclosuresUNFCCC United Nations Framework Convention on Climate ChangeVCM Volunt

46、ary carbon marketWRI World Resources Instituteix Nature-based Solutions for corporate climate targetsViews regarding the corporate use of Nature-based Solutions to meet net-zero goalsGlossary of definitionsAbatement is when measures are taken to prevent,reduce or eliminate sources of greenhouse gas(

47、GHG)emissions within value chains(companies)or GHG inventories.Examples include reducing energy use,switching to renewable energy,and reducing chemical fertiliser use.2Beyond value chain mitigation refers to mitigation actions or investments outside a companys value chain.This includes activities th

48、at avoid or reduce GHG emissions or remove and store GHGs from the atmosphere.3 This definition is under consultation to be updated to reflect that mitigation actions or investments might not have guaranteed outcomes.4Carbon removals are measures that companies take to remove carbon from the atmosph

49、ere and permanently store it within or beyond the value chain.These may include nature-based or technological solutions(see further definitions below).5Climate neutral(defined by the Intergovernmental Panel on Climate Change)refers to a state where an actors activities have no net effect on the clim

50、ate system.Achieving such a state would require balancing residual emissions with emissions removals.6Climate positive(defined by the Race to Zero campaign)refers to a state in which an actors internal and external GHG removals exceed its emissions.In that case,removals must be like-for-like(see bel

51、ow)and specified over a declared period.It must also be specified whether removals and emissions are cumulative or represent only the period specified.7Corporate Net Zero(defined by Science Based Targets initiatives Corporate Net-Zero Standard)is when an actor reduces scope 1,2 and 3 emissions to ze

52、ro or to a residual level consistent with reaching net zero emissions at the global or sector level in eligible 1.5C-aligned pathways.Then,corporations must neutralise any residual emissions at the net-zero target year and any GHG emissions released into the atmosphere after that.8Like-for-like(defi

53、ned by the Race to Zero campaign)emissions are source and sink emissions that correspond to their warming impact and the timescale and durability of carbon storage.9Leakage of carbon happens when interventions or policies to reduce emissions in one area(subnational or national)merely lead to the dis

54、placement of these emissions elsewhere.Carbon leakage should be prevented by managing,quantifying,accounting for and compensating displacements.10Intervention accounting methods(defined by the GHG Protocol)track GHG emissions and removals of specific projects,actions or interventions not defined by

55、an inventory boundary.Inventory accounting methods(defined by the GHG Protocol)meet a variety of objectives,including accounting for total emissions and removals annually within a defined GHG inventory boundary,setting and tracking progress toward targets,and identifying hot spots to focus mitigatio

56、n efforts.xNature-based Solutions for corporate climate targetsViews regarding the corporate use of Nature-based Solutions to meet net-zero goalsMitigation hierarchy refers to how companies should commit to reducing value chain emissions and implementing strategies to achieve these targets as a firs

57、t-order priority,ahead of actions or investments to mitigate emissions outside their value chains.Investing outside of the value chain is in addition to,and not instead of,emissions reductions.11Nature-based carbon removals involve conserving,restoring or better-managing ecosystems to remove carbon

58、dioxide(CO2)from the atmosphere.Examples include afforestation,reforestation,forest restoration,urban tree planting,agroforestry and building soil carbon.These solutions reduce climate change by capturing CO2 from the air and sequestering it in plants,soils and sediments.12Nature-based Solutions are

59、 actions to protect,conserve,restore,sustainably use and manage natural or modified terrestrial,freshwater,coastal and marine ecosystems which address social,economic and environmental challenges effectively and adaptively while simultaneously providing human well-being,ecosystem services,resilience

60、 and biodiversity benefits.13Natural climate solutions are actions to protect,better manage and restore nature to reduce GHGs and store carbon.14Nature-positive is a future where we,as a global society,halt and reverse the loss of nature measured from its status.We reduce future negative impacts whi

61、le restoring and renewing nature to put both living and non-living nature measurably on the path to recovery.15Neutralisation refers to measures companies take to eliminate the climate impact of residual GHG emissions released into the atmosphere at and after the companys science-based aligned net-z

62、ero target date through permanent removal and storage of carbon from the atmosphere.Carbon removals can be implemented within or beyond the value chain to neutralise residual emissions.16No regrets options are responses to climate change that deliver net economic benefits and hence represent a low-r

63、isk,attractive strategy for governments,firms or households.These options for GHG emissions reduction are defined as those whose benefits,such as reduced energy costs and reduced emissions of local/regional pollutants,equal or exceed their costs to society,excluding the benefits of avoided climate c

64、hange.17 These measures are sometimes called win-win actions since they simultaneously deliver multiple benefits,namely economic growth and climate change objectives.This term is used differently across contexts,notably in the literature on adaptation to and mitigation of climate change.In the mitig

65、ation literature,no regrets options deliver net economic benefits and mitigation gains.In the adaptation literature,no regrets options generate net social or economic benefits irrespective of whether climate change occurs,as well as across a range of possible climate futures.Remaining emissions are

66、emissions that remain in a given year as a company progresses towards the delivery of its near-and long-term science-based target.18Residual emissions are emissions that cannot be completely eliminated or reduced to zero despite implementing all available mitigation measures contemplated in pathways

67、 that limit warming to 1.5C with no or limited overshoot.In the context of science-based targets,residual xi Nature-based Solutions for corporate climate targetsViews regarding the corporate use of Nature-based Solutions to meet net-zero goalsemissions refer to the companies scope 13 emissions that

68、remain once its long-term emissions reduction target has been achieved.19Permanence ensures that each carbon credit generated represents a long-term climate benefit,often defined as 100 years.Projects and programmes must mitigate the risk that GHG emission reductions or removals are reversed at some

69、 point in the future due to natural disasters,climate changes,human activities or other events that cause stored carbon to be released back into the atmosphere.20 The risk of impermanence is often managed through mandatory buffer accounts.Projects and programmes set aside a portion of their credits

70、in a buffer pool,from which credits are subtracted to compensate for carbon storage reversals.21Science-based targets must fulfil three characteristics:be theoretically achievable,possible to demonstrate the degree of achievement(measurable)and supported by a clear analytical rationale as to why it

71、is set at a particular level.22 Specific climate change science-based targets for businesses mentioned in this publication refer to the ones developed under the Science Based Targets initiative Net-Zero Standard,in line with what the latest climate science deems necessary to meet the goals of the Pa

72、ris Agreement to pursue efforts to limit warming to 1.5C.23 The Science Based Targets Network work is also referred to.24Technological carbon removals and storage(defined by the GHG Protocol)refer to technology(i.e.non-nature)based removals.Specific practices include carbon capture and storage,direc

73、t air capture and enhanced weathering or mineralisation.25xiiNature-based Solutions for corporate climate targetsViews regarding the corporate use of Nature-based Solutions to meet net-zero goals kongjongphotostock/iStockNature-based Solutions for corporate climate targetsViews regarding the corpora

74、te use of Nature-based Solutions to meet net-zero goalsIntroduction1 1.IntroductionThe twin crises of climate change and biodiversity loss pose existential risks to the planet and its people.As the latest Intergovernmental Panel on Climate Change(IPCC)synthesis report explains,extreme environmental

75、and climate impacts will increase in frequency alongside each incremental rise in temperature.26 These amplified risks relate not just to extreme climate events but to water systems,species extinction,heathumidity risks to humans,food production impacts and countless other knock-on effects.Alongside

76、 climate change,the global threats to nature and biodiversity must be urgently addressed.The 2022 Global Risk Report by the World Economic Forum argues that biodiversity loss,along with climate change,is one of the greatest global challenges of our time.27The fundamental link between climate change

77、and biodiversity loss means that the two crises cannot be addressed in silos.28 These emergencies exacerbate one another:rising temperatures drive biodiversity and ecosystem loss,while ecosystem destruction undermines natures capacity to regulate emissions and shield against extreme weather.29 Yet,h

78、ealthy ecosystems harbour species and provide essential ecosystem services,including carbon sequestration.Close to one-third of the emission reductions required in the next decade could be achieved by improving natures ability to absorb emissions.30 These global challenges require immediate action t

79、o avoid ecosystem degradation beyond repair.Ecosystem protection offers an indispensable solution to climate change and biodiversity loss.For example,reforestation of deforested mangrove regions could capture up to 688 million tonnes of carbon dioxide equivalent over a 40-year period.31 In addition

80、to its mitigation potential,mangrove restoration would help preserve biodiversity in one of Earths most productive marine ecosystems.32Recent global agreements have highlighted the collective ambition of the public and private sectors to address these challenges.Article 4 of the Paris Agreement ensh

81、rined the goal of reaching net zero emissions by mid-century,by achieving a balance between anthropogenic emissions and carbon removals,to limit the increase in global temperature to 1.5C.33 More recently,leaders at the 15th Conference of Parties to the UN Convention on Biological Diversity signed t

82、he Kunming-Montreal Global Biodiversity Framework(GBF)to halt and reverse biodiversity loss this decade,foster full nature recovery by 2050,develop responses to minimise climate change impacts to biodiversity including through Nature-based Solutions(Target 8)and leveraging private sector actions to

83、progressively reduce negative impacts to biodiversity(Target 11).Moreover,non-state actors are mobilised towards more ambitious climate action under the Paris Agreement through the Marrakech Partnership for Global Climate Action and the Breakthrough Agenda launched in 2022,which builds on the 2030 B

84、reakthroughs.The Agenda and Breakthroughs set up a direction of action connected with nature,land and oceans,aiming to generate systemic transformation across systems to allow nature to foster mitigation,adaptation and resilience outcomes.To reach these goals of climate and nature,an unprecedented l

85、evel of social and economic transformation must occur across all sectors including energy,agriculture,land use,transportation and beyond,from private Nature-based Solutions for corporate climate targetsViews regarding the corporate use of Nature-based Solutions to meet net-zero goalsIntroduction2org

86、anisations including companies and investors(e.g.pension funds,asset managers,asset owners,etc.).One estimate suggests that at least USD 4.3 trillion in annual finance flows are needed by 2030(a compound annual growth rate of 21%)to avoid the worst impacts of climate change.34 Global financial marke

87、ts held USD 200 trillion in 2020,showing liquidity.However,to materialise the much-needed investment,key coordinated actions should be adopted from both the public and private sectors.35 Particularly the corporate sector and its ability to mobilise significant finance will play an essential role in

88、the worlds transition to net zero.The corporate sectors leadership in decarbonising the world includes actions to reduce emissions from their supply chains,divest investments away from fossil fuels and increase financing for climate-positive economic activities.They will also assess and respond to c

89、limate and biodiversity risks by contributing to the global climate and biodiversity goals through investments in nature.Nature has arisen as an unavoidable part of corporate sector investment in implementing climate change and net-zero strategies.In particular,Nature-based Solutions(NbS)activities

90、undertaken to protect,sustainably manage,and restore natural and modified ecosystems while addressing societal challenges offer the corporate sector solutions for addressing this dual crisis,while potentially reducing costs(e.g.by adopting practices like agroforestry and biological pest control inst

91、ead of intensive or commercial agriculture),generating positive return on investment(e.g.by implementing regenerative agriculture)or identifying new business opportunities.36 Natures contribution to the global economy is worth more than USD 125 trillion annually,37 and building conservation and NbS

92、into projects presents a unique opportunity for businesses.NbS can be an effective framework for reversing the ongoing degradation of natural resources by increasing the alignment between conservation and sustainable development objectives.38However,using NbS to meet net-zero targets has raised vari

93、ous concerns.These include the mischaracterisation of NbS as having the sole purpose of generating carbon removals,its appropriate role in an overarching climate strategy,and,within that,questions on whether NbS removals should be considered fungible with fossil fuel emissions as well as quality and

94、 permanence of nature-based removals.Further concerns include the methodologies used for carbon accounting and a lack of standardised methods to assess benefits beyond carbon,for example,social and environmental benefits.39 Still,as the threats of climate change and biodiversity loss are linked,so a

95、re the solutions for addressing them.Roughly 40%of global land with high carbon storage potential is also rich in biodiversity.40 The synergies between activities that reduce emissions and those that protect biodiversity create significant opportunities for the private sector to mutually benefit the

96、 climate and nature.This publication outlines the application of NbS in the context of climate change mitigation.It argues that NbS must be designed with a holistic objective of benefiting biodiversity and human well-being,for which the United Nations Environment Assembly adopted NbS definition and

97、IUCN(International Union for Conservation of Nature)Global Standard for NbSTM,with its criteria and indicators,can be used to help guarantee high-quality interventions.It then presents the available pathways for including NbS in corporate climate strategies to support:(a)the decarbonisation of suppl

98、y chains;(b)the potential neutralisation of hard-to-abate emissions(with the caveat explained in Section 3.3);and(c)investment in the societal net-zero goal through beyond value chain action.The wealth of experience Nature-based Solutions for corporate climate targetsViews regarding the corporate us

99、e of Nature-based Solutions to meet net-zero goalsIntroduction3 from IUCN,Members,Commissions and Secretariat contributes to more comprehensive perspectives of climate action.This emphasises that NbS approaches not only pursue carbon mitigation outcomes but also integrate balanced solutions to addre

100、ss societal challenges in the context of the dual climatebiodiversity crises.While each economic sector impacts nature differently,the expectations on the private sector are clear:reducing direct impacts,decarbonising and investing in nature beyond ones own value chain to continue operating within p

101、lanetary boundaries.Adopting net-zero and nature-positive targets as part of an environmental,social and governance policy and meeting those by employing cost-effective and scalable NbS helps the private sector to meet its own climate and biodiversity goals,accelerate decarbonisation in supply chain

102、s and help close the gap in ambition and financing.This is needed to achieve the societal goals of reaching balanced net zero emissions and fully recovering nature by 2050.Nature-based Solutions for corporate climate targetsViews regarding the corporate use of Nature-based Solutions to meet net-zero

103、 goalsIntroduction4 alejomiranda/iStockNature-based Solutions for corporate climate targetsViews regarding the corporate use of Nature-based Solutions to meet net-zero goalsNature-based Solutions and climate change mitigation5 2.Nature-based Solutions and climate change mitigation2.1.Nature-based So

104、lutions definition and global standardAs per the United Nations Environment Assembly definition,which builds on IUCNs,NbS are actions to protect,conserve,restore,sustainably use and manage natural or modified terrestrial,freshwater,coastal and marine ecosystems which address social,economic and envi

105、ronmental challenges effectively and adaptively,while simultaneously providing human well-being,ecosystem services,resilience and biodiversity benefits41.NbS are grounded on the science and practice of the ecosystem approach and were created as an umbrella concept to cover a range of different appro

106、aches42 that use ecosystems to address societal challenges,such as climate change,food security,water security,disaster risk,human health,and social and economic development(see Figure 1).43 Effective NbS interventions showcase how nature can benefit societal and human well-being(see Figure 2).44Fig

107、ure 1.Defining Nature-based Solutions.Source:IUCN.(2020).IUCN Global Standard for Nature-based Solutions:A user-friendly framework for the verification,design and scaling up of NbS(1st ed.).Nature-based Solutions for corporate climate targetsViews regarding the corporate use of Nature-based Solution

108、s to meet net-zero goalsNature-based Solutions and climate change mitigation6Examples of NbS that benefit ecosystems and communities include protecting intact and high-integrity forests,like the Amazon and Congo rainforests,to contribute to local and global climate regulation,ensure clean water supp

109、lies,maintain biodiversity and protect carbon pools.45 Restoring degraded wetlands can increase carbon sequestration,reduce erosion and flooding,buffer against storms,46 and help to conserve threatened animal and plant species.Wetland restoration can also improve ecosystem services that benefit loca

110、l communities by ensuring water quality and supplying food and raw materials.The restoration of arid and semi-arid degraded grasslands may increase carbon storage,improve water quality and quantity,and support wildlife and livestock productivity.47 Practices such as agroforestry,conservation agricul

111、ture and regenerative agriculture can provide additional income to farmers while allowing them to diversify their income sources.48Alongside the definition of NbS,IUCN has published the NbS Principles49 and the Global Standard for NbS,designed to ensure that the concept is clearly understood,communi

112、cated and interventions are implemented with the highest quality and long-term results.The global standard seeks to guide the design of an NbS and provide a means to verify that it meets the criteria of the standard.The eight process-oriented criteria respond to a project management cycle,albeit thi

113、nking beyond the projects geographical space and timelines.When a solution already exists,the standard can be used to ascertain whether it qualifies as an NbS,identifying gaps to work on to transform the intervention into a strong NbS.50The eight criteria of the Global Standard for NbS include a set

114、 of indicators(see Figure 3).As the Guidance for using the IUCN Global Standard for Nature-based Solutions explains,51 criteria“1 outlines the process for determining the societal challenge(s)the stakeholders and rights-holders face,as well as establishing an understanding of associated opportunitie

115、s and challenges.The design of the solution must aim to address the challenge,taking into consideration the wider social,economic,and ecological contexts within which the challenge and solution exist,as per criteria 2.Criteria 2 addresses the fact that even if the execution of the solution is at a s

116、ite level or smaller scale,the larger scale level considerations can greatly inform the robustness and durability of the solution,beyond its implementation.Criteria 3,4 and 5 outline processes that can enhance the chances of positive outcomes for biodiversity,society,and the economy.However,to achie

117、ve these three criteria with respect to immediate,short-term and long-term outcomes,trade-offs need to be determined and made,which are directly addressed in criteria 6,in order to give this issue visibility and importance.”The Guidance52 continues to explain that“the decision-making processes for a

118、ny trade-offs that are made need to be transparent and equitable and could be within the context of one or more of criteria 3,4 and 5.In addition,principles of adaptive management underpinned by a theory of change and iterative learning processes,as per criteria 7,can also enhance the success of NbS

119、.Criteria 8 focuses on processes for mainstreaming NbS in spatial and temporal scales,whereby actions and impacts may be sustained beyond stand-alone projects to fully realise the potential of nature as a tool providing a solution to societal challenges.”Nature-based Solutions for corporate climate

120、targetsViews regarding the corporate use of Nature-based Solutions to meet net-zero goalsNature-based Solutions and climate change mitigation7 What are Nature-based Solutions(NbS)?NbS are defined by IUCN as“actions to address societal challenges through the protection,sustainable management and rest

121、oration of ecosystems,benefiting both biodiversity and human well-being.”They use the power of nature and functioning ecosystems as infrastructure to provide natural services to benefit society and the environment.NbS have prime potential to helpaddress global challenges such as:NbS can provide long

122、-term environmental,societal and economic benefits:climate changeeconomic and social developmenthuman healthfood and water security disaster risk reductionecosystem degradationbiodiversity loss healthy and accessible foodadaptation to climate changedisaster risk reduction clean air and water ecosyst

123、em integritybiodiversity net gainhealth benefits green jobs community resilience theadaptprojectwww.iucn.org/adaptExamples of NbS application:Protection,restoration and management of wetlands Provides water storage,flood protection,food production Protection,restoration and sustainable use of forest

124、 landscapes Secures water supply,erosion control and risk reductionProviding space for rivers to naturally flowEnables flood protection,water securityProtection or restoration of coastal ecosystems Brings community resilience,disaster risk reduction,economic development Urban green and blue spaces E

125、mpowers climate regulation,betters human health,social development,green jobs Sustainable management of agroforestry systems Offers food security,water regulation,economic and social developmentFigure 2.What are Nature-based Solutions(NbS)?Source:IUCN.(2022).IUCN Website.https:/iucn.org/sites/defaul

126、t/files/2022-06/nature-based-solutions_infographic_english.pdfNature-based Solutions for corporate climate targetsViews regarding the corporate use of Nature-based Solutions to meet net-zero goalsNature-based Solutions and climate change mitigation8Figure 3.The eight criteria of the IUCN Global Stan

127、dard for NbSTM.Source:IUCN.(2020).IUCN Global Standard for Nature-based Solutions:A user-friendly framework for the verification,design and scaling up of NbS(1st ed.).Based on the criteria from the standard,critical elements should be considered in the design of new or assessment of existing NbS in

128、the context of climate change action,including biodiversity,inclusivity and trade-offs.53 First,to be considered an NbS,a solution must either maintain or enhance biodiversity and ecosystem integrity.This is important for ensuring that the integrity and stability of the natural system is not undermi

129、ned by practices that favour short-term gains,thus compromising the ability of the system to provide for future generations.54Second,interventions can only be successful by including different knowledge systems and engagement of groups directly or indirectly affected and who can strongly benefit fro

130、m NbS,including Indigenous peoples and local communities(IPLCs),women and youth.Related to the latter,integrating a gender-responsive approach enables NbS implementation,as nature conservation and womens rights are inextricably linked.Also,children and youth have a tangible contribution to solving c

131、ritical societal challenges while aiming at intergenerational equity.This relates to the importance of understanding the societal challenges at the local level to increase awareness of the stakeholders before any activity is proposed.Without identifying the root causes of the nexus climate changebio

132、diversitysocietal challenges as well as the risks of implementing a specific solution,the vulnerability of IPLCs and vulnerable communities may increase,jeopardising their contribution to both biodiversity gain and climate change mitigation.55Third,to address the biodiversity and climate change cris

133、es,it is necessary to consider the interdependencies between them,to enhance synergies and minimise potential risks and Nature-based Solutions for corporate climate targetsViews regarding the corporate use of Nature-based Solutions to meet net-zero goalsNature-based Solutions and climate change miti

134、gation9 trade-offs.There is a risk that some solutions may decrease biodiversity by focusing solely on climate change mitigation and possibly adaptation.Monocultural forest plantations(especially exotic species)can increase exposure to hazards(e.g.wildfires,erosion),further exacerbating environmenta

135、l impacts and increasing biodiversity loss.In turn,other societal challenges that might not have been considered,such as food or water security,can also become more serious,further constraining the communities that rely on this ecosystem.Another risk is the lack of understanding of IPLCs traditions

136、and knowledge,which may lead to top-down,inadequate climate change responses,thus affecting the well-being of these peoples.What can be perceived as good by an external organisation may be detrimental to IPLCs societal challenges.For example,in a project in Panama,local communities“had a strong pref

137、erence for agroforestry,particularly coffee,a crop with negligible carbon value,but high economic value,”instead of reforestation,which had a greater carbon capture.56“Reforestation projects for climate mitigation in community contexts embed carbon sequestration objectives within existing social eco

138、nomic and cultural priorities that can either align or contrast but need to be accounted for to ensure the sustainability of the project.”57A final risk to consider is the oversimplification of the concept of NbS to find rapid solutions.The gap in understanding the theoretical concept and the practi

139、ce in the field remains a danger that can cause irreversible negative impacts.NbS practitioners must ensure that multiscale and multidimensional assessments of the context(social,economic,environmental,political)are completed and involve the IPLCs that may be directly or indirectly impacted from the

140、 start.Research has shown that the various types of governance should also be respected to ensure consensus,benefits for all and long-term sustainability of NbS.58 There remains a danger of slippage through ineffective solutions that can exacerbate the societal challenges of IPLCs,including those re

141、lated to climate change and biodiversity.Systems thinking requires a long-term and global view of the entire ecosystems and these challenges holistically.Trade-offs can be successfully managed if the most relevant stakeholders properly assess,disclose and agree upon the consequences.Fair and transpa

142、rent negotiation of trade-offs and compensation among those potentially affected is required.The Global Standard for NbS provides ways and means on how to address these(see Box 1 and Table 1).Trade-offs also have limits,so safeguards are necessary to ensure that ecosystem regulating and supporting s

143、ervices are not exceeded.Monitoring and evaluation should be adjusted,as needed,according to the type of adaptive ecosystem management process.Nature-based Solutions for corporate climate targetsViews regarding the corporate use of Nature-based Solutions to meet net-zero goalsNature-based Solutions

144、and climate change mitigation10Box 1.Addressing trade-offs between biodiversity and climate changeAddressing the potential impact of trade-offs and the promotion of synergies between biodiversity conservation,ecosystem service enhancement and climate change is becoming necessary in conservation poli

145、cy and practice.The IPCCIntergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services report on biodiversity and climate change59 includes a series of proposed actions regarding the management of trade-offs:Spatial planning approaches help achieve multiple outcomes,especially at a

146、 larger scale.Biomes,ecosystem uses and sectoral interactions should be considered in trade-off analysis.In addition,country reporting under the United Nations Framework Convention on Climate Change(UNFCCC)and the Convention on Biological Diversity frameworks provides a significant opportunity to al

147、ign national mitigation and biodiversity goals.Planning should be examined in the long term,not as an immediate quick-fix solution driven by single-sided purposes.Even if the concept of offsets has been widely applied for carbon removal measures,the report mentions that for more than 12,000 biodiver

148、sity offsets implemented across 37 countries,only a third meets the no net loss principle.The trade-offs between biodiversity offsets and climate change mitigation must be planned and assessed to ensure no net biodiversity loss and to guarantee the full respect of Indigenous peoples rights.Policy de

149、cisions should consider the interactions between biodiversity,climate and society.This provides opportunities to maximise co-benefits and to minimise trade-offs and co-detrimental effects for people and nature.The climatebiodiversitysocial system is a nexus most appropriately dealt with from a socio

150、-ecological systems perspective.Such an approach accounts for trade-offs,feedback,threshold effects and nonlinear relationships between biophysical and social variables across spatiotemporal scales.Positive social tipping interventions can help to attain desirable biodiversityclimate interactions.Su

151、rpassing thresholds can lead to changes in ecosystem function.Ignoring the potential for strong trade-offs between biodiversity and climate change resulting from a specific policy action further risks surpassing thresholds.Promoting social tipping interventions to modify the ways society and nature

152、interact can be a viable joint solution.This may involve the redistribution of benefits and costs of actions and even more profoundly,a collective shift of individual and shared values concerning nature.Identifying solutions for stewardship that deliver the highest co-benefits while avoiding trade-o

153、ffs should be the main goal of NbS activities.Identifying integrated approaches across actions to protect,restore,manage,create and adapt is a primary concern.Many synergies and co-benefits exist across biodiversity and climate policies and actions.Still,potential negative trade-offs for nature,clim

154、ate or human well-being and good quality of life are also possible.Governance systems that use a systems-thinking perspective can help manage trade-offs and adapt to risk through mechanisms such as adaptive reflexive evaluation and social learning.Solutions must,therefore,consider the whole system,t

155、rade-offs and the spatiotemporal implications of any action aimed at solving these crises.Nature-based Solutions for corporate climate targetsViews regarding the corporate use of Nature-based Solutions to meet net-zero goalsNature-based Solutions and climate change mitigation11 Table 1.IUCN Global S

156、tandard for NbS criteria and indicatorsCriteriaDefinitionIndicator1.NbS effectively address societal challengesNbS must be designed as a response to a societal challenge as described by IUCNThe most pressing societal challenge(s)for rights-holders and beneficiaries are prioritisedThe societal challe

157、nge(s)addressed are clearly understood and documentedHuman well-being outcomes arising from the NbS are identified,benchmarked and periodically assessed2.Design of NbS is informed by scaleNbS design must recognise the complexity and uncertainty that occur in living dynamic land/seascapes.Scale appli

158、es to the biophysical,geographic perspective and the influence of economic systems,policy frameworks and cultural perspectivesThe design of the NbS recognises and responds to interactions between the economy,society and ecosystemsThe design of the NbS is integrated with other complementary intervent

159、ions and seeks synergies across sectorsThe design of the NbS incorporates risk identification and risk management beyond the intervention site3.NbS result in a net gain to biodiversity and ecosystem integrity*NbS design and implementation must avoid undermining the integrity of the system and instea

160、d proactively seek to enhance the functionality and connectivity of the ecosystem,ensuring long-term resilience and durability of NbSThe NbS actions directly respond to evidence-based assessment of the current state of the ecosystem and prevailing drivers of degradation and lossClear and measurable

161、biodiversity conservation outcomes are identified,benchmarked and periodically assessedMonitoring includes periodic assessments of unintended adverse consequences on nature arising from the NbSOpportunities to enhance ecosystem integrity and connectivity are identified and incorporated into the NbS

162、strategy4.NbS are economically viableThe economic feasibility of NbS projects,the return on investment,the efficiency and effectiveness of the intervention,and equity in the distribution of benefits and costs are key determinants of success for an NbSThe direct and indirect benefits and costs associ

163、ated with the NbS who pays and who benefits are identified and documentedA cost-effectiveness study is provided to support the choice of NbS,including the likely impact of any relevant regulations and subsidiesThe effectiveness of the NbS design is justified against available alternative solutions,c

164、onsidering any associated externalitiesThe NbS design considers a portfolio of resourcing options,such as market-based,public sector,voluntary commitments and actions to support regulatory compliance*The IUCN consultation paper on Measuring Nature-Positive,which will be available for review by the U

165、nion in November 2023,contains a detailed methodology for the identification of actions to deliver on Criterion 3 in Table 1 above and will enable companies to set baselines and track progress towards the delivery of targets in line with the GBF.Nature-based Solutions for corporate climate targetsVi

166、ews regarding the corporate use of Nature-based Solutions to meet net-zero goalsNature-based Solutions and climate change mitigation12CriteriaDefinitionIndicator5.NbS are based on inclusive,transparent and empowering governance processesNbS must acknowledge,involve and respond to the concerns of a v

167、ariety of stakeholders,especially rights-holders,and have good governance arrangements in place that adhere to prevailing legal and regulatory provisions,with clear legal responsibilitiesA defined and fully agreed upon feedback and grievance resolution mechanism is available to all stakeholders befo

168、re an NbS intervention is initiatedParticipation is based on mutual respect and equality,regardless of gender,age or social status,and upholds the right of Indigenous peoples to free,prior and informed consentStakeholders who are directly and indirectly affected by the NbS have been identified and i

169、nvolved in all processes of the NbS interventionDecision-making processes document and respond to the rights and interests of all participating and affected stakeholdersWhere the scale of the NbS extends beyond jurisdictional boundaries,mechanisms are established to enable joint decision-making of t

170、he stakeholders in the affected jurisdictionsThe potential costs and benefits of associated trade-offs of the NbS intervention are explicitly acknowledged and inform safeguards and any appropriate corrective actions6.NbS equitably balance trade-offs between the achievement of their primary goal(s)an

171、d the continued provision of multiple benefitsNbS proponents must acknowledge the trade-offs in land and natural resources management and follow a fair,transparent and inclusive process to balance and manage them over both time and geographic spaceThe potential costs and benefits of associated trade

172、-offs of the NbS intervention are explicitly acknowledged and inform safeguards and any appropriate corrective actionsThe rights,usage of and access to land and resources,along with the responsibilities of different stakeholders,are acknowledged and respectedThe established safeguards are periodical

173、ly reviewed to ensure that mutually agreed trade-off limits are respected and do not destabilise the entire NbS7.NbS are managed adaptively,based on evidenceNbS implementation must include provisions to enable adaptive management as a response to uncertainty and as an option to harness ecosystem res

174、ilience effectivelyAn NbS strategy is established and used as a basis for regular monitoring and evaluation of the interventionA monitoring and evaluation plan is developed and implemented throughout the intervention lifecycleA framework for iterative learning that enables adaptive management is app

175、lied throughout the intervention lifecycleThe NbS design,implementation and lessons learnt are shared to trigger transformative change8.NbS are sustainable and mainstreamed within an appropriate jurisdictional contextNbS interventions must be designed and managed to ensure long-term sustainability,c

176、onsidering working with and aligning with sectoral,national and other policy frameworksThe NbS informs and enhances facilitating policy and regulation frameworks to support its uptake and mainstreamingWhere relevant,the NbS contributes to national and global targets for human well-being,climate chan

177、ge,biodiversity and human rights,including the United Nations Declaration on the Rights of Indigenous Peoples(UNDRIP)Nature-based Solutions for corporate climate targetsViews regarding the corporate use of Nature-based Solutions to meet net-zero goalsNature-based Solutions and climate change mitigat

178、ion13 2.2.The role of Nature-based Solutions in a Paris-aligned pathwayIn addition to drastically reducing emissions,all IPCC mitigation pathways consistent with limiting temperature rise to 1.5C require investment in carbon removal and significant changes in current land use practices60(see Box 2).

179、The IPCC states that deploying carbon removals to counterbalance or neutralise the impact of residual emissions is unavoidable if net zero greenhouse gas emissions are to be achieved61,62(see Figure 4).Box 2.Nature-related measures in the context of the 1.5C-aligned pathway63,64The IPCC Special Repo

180、rt delivered the scientific consensus that the risks associated with exceeding 1.5C of warming will be more severe than previously understood.The Special Report highlights pathways that limit warming to 1.5C with no or limited overshoot,that is letting global temperatures rise above 1.5C or higher a

181、nd then using carbon capture to bring temperatures back down in the following decades.The pathways proposed by the IPCC Special Report will require profound transitions in global energy and all economic and land systems.Along with full,or near-full,decarbonisation for energy and industrial carbon di

182、oxde(CO2)emissions and eliminating CO2 emissions associated with agriculture,forestry and land use,this trajectory will also require CO2 removals from the atmosphere to neutralise residual emissions and,potentially,sustain net negative emissions that reduce cumulative CO2 in the atmosphere over time

183、.Carbon removal measures may include afforestation,reforestation and improved forest management,soil carbon sequestration,biochar,and peatland and wetland restoration.The AR6 Synthesis Report highlights the emissions gap based on pledges or commitments announced by 2021 to limit warming to 1.5C and

184、implementation gaps.A 43%reduction in net global emissions is needed by 2030 to be on track for the global temperature goal.Figure 4.GHG emissions pathways with removals.Source:Babiker,M.,Berndes,G.,Blok,K.,Cohen,B.,Cowie,A.,Geden,O.,.Yamba,F.(2022).Cross-sectoral perspectives.In IPCC.Climate change

185、 2022:Mitigation of climate change.Contribution of Working Group III to the Sixth Assessment Report of the Intergovernmental Panel on Climate Change.https:/ipcc.ch/report/ar6/wg2/Nature-based Solutions for corporate climate targetsViews regarding the corporate use of Nature-based Solutions to meet n

186、et-zero goalsNature-based Solutions and climate change mitigation14Carbon emission removals and reductions from agriculture,forestry,wetlands and bioenergy could feasibly contribute about 30%or 15 billion tonnes of carbon dioxide equivalent(Gt CO2e)per year of the global mitigation needed to limit w

187、arming to 1.5C.65 Because some measures can be implemented quickly,this sectors share of mitigation potential is higher in the near term,with up to 37%,66 or between 511.7 Gt CO2e per year,of the emissions mitigation needed until 2030 to achieve net zero by 2050.67,68 Implementing these measures is,

188、therefore,vital to achieving a low-carbon future while facilitating climate change adaptation and supporting other critical ecosystem functions.69 These mitigation outcomes would result from the implementation of Natural Climate Solutions(NCS)from one of four NCS categories:(a)avoided deforestation

189、and avoided peatland impact;(b)peatland restoration;(c)reforestation;and(d)cover crops.70The concept and potential of NCS pathways emerged most prominently in the Griscom et al.(2017)research paper,71 whereby the mitigation potential in tropical countries was calculated by considering food security

190、and fibre conditions,biodiversity safeguards(such as avoiding establishing forests where they are not the native cover type)and identifying non-carbon ecosystem services associated with each pathway related to water,soil and air.However,when implementing these pathways on the ground,the NbS definiti

191、on,principles and standard should be the fundamental guidance.This will ensure adequate consideration of the biodiversity,social inclusion,and risk and trade-off issues explained in Section 2.1.Not all NCS can be considered NbS,although some NbS could be designed to prioritise climate change mitigat

192、ion outcomes.72,73 To contribute effectively to the worlds climate and nature targets,NbS must be created and implemented with longevity in mind and accompanied by other decarbonisation and carbon storage forms.Ambitious and rapid scaling-up of NbS requires a long-term look at their impacts on carbo

193、n storage,biodiversity and Sustainable Development Goals.74,752.3.The Global Standard for Nature-based SolutionsTM in the context of net zeroThere are important principles,standards,guidance and frameworks issued to achieve net zero,including using nature for within and beyond value chain action(see

194、 Annex B).These include:Those that guide companies on aligning with a 1.5C pathway,namely the Science Based Targets initiative(SBTi),through their Net-Zero Standard,the Forest,Land and Agriculture(FLAG)Guidance and upcoming guidance on beyond value chain mitigation(BVCM).76Principles for the use of

195、NbS in insetting77 and in carbon markets,78 as developed by the University of Oxford.Good practices for engaging with carbon markets include the Integrity Council for the Voluntary Carbon Market(IC-VCM),79 the Carbon Credit Quality Initiative,80 the Voluntary Carbon Markets Integrity Initiative,81 t

196、he World Resources Institute(WRI)Guidance on Voluntary Use of NbS Credits through 204082 and other guidance on high integrity use of carbon credits.Complementary to these,the Together for Nature principles for NbS are good references to“responsibly tackle the climate crisis,restore biodiversity and

197、benefit planetary health and human well-being.”83Nature-based Solutions for corporate climate targetsViews regarding the corporate use of Nature-based Solutions to meet net-zero goalsNature-based Solutions and climate change mitigation15 Moreover,campaigns like Race to Zero84 and Race to Resilience8

198、5 backed by the United Nations Framework Convention on Climate Change(UNFCCC)provide sector-wide,science-based requirements to accept net-zero commitments from businesses,cities,regions,investors and universities.Recently,the UNFCCC Secretariat announced the establishment of the Global Climate Actio

199、n Recognition and Accountability Framework for non-Party stakeholders.This will set the principles of engagement,governance and information or data management to increase transparency and the credibility of climate action pledges and plans by disclosing progress,including net-zero targets and strate

200、gies.86 The Accountability Framework would consider actions connected to nature,building upon the recommendations from the UN High-Level Expert Group on the Net Zero Emissions Commitments of Non-State Entities(see recommendations 3 and 7).87The Global Standard for NbS critically complements these ex

201、isting tools.It provides the specifics of how to design a solution from the bottom up without predetermining a single mitigation priority but seeking a comprehensive solution that addresses a diversity of societal challenges in a balanced manner.In the context of climate change mitigation and net-ze

202、ro action,this is particularly important for these actions credibility,transparency and integrity.To include NbS as part of net-zero action,they must be carried out in a systematic approach,ensuring quality control of the interventions and adequate assessments and minimisation of risks to biodiversi

203、ty and society.88 Chapter 3 will present options for implementing NbS in the context of climate change strategies,bearing these ideas in mind.Nature-based Solutions for corporate climate targetsViews regarding the corporate use of Nature-based Solutions to meet net-zero goalsNature-based Solutions a

204、nd climate change mitigation16 Sam maulidna/ShutterstockNature-based Solutions for corporate climate targetsViews regarding the corporate use of Nature-based Solutions to meet net-zero goalsNature-based Solutions in corporate climate strategies17 3.Nature-based Solutions in corporate climate strateg

205、iesCorporate net-zero efforts must be underpinned by high integrity and transparent guidelines.The Corporate Climate Responsibility Monitor89 outlines criteria for robust corporate climate strategies,which include four focus areas:1.Transparently and regularly tracking and disclosing risks,impacts a

206、nd progress;2.Setting credible science-aligned short-,medium-and long-term targets;3.Steadily reducing a companys own emissions in line with a clear decarbonisation plan;and4.Responsibly utilising climate removals to neutralise residual emissions.This section presents options for the application and

207、 use of NbS to implement robust corporate climate strategies,referring to existing corporate guidelines and standards which would be complemented by the application of the Global Standard for NbS in what pertains to the integration of nature into these strategies(see Table 2).Table 2.Existing and fo

208、rthcoming guidelines for utilising NbS to meet net-zero targetsPublication Focus Area(s)Application for NbSTask Force on Climate-Related Financial Disclosure(TCFD)Disclosures RecommendationsClimate risk reporting and disclosureClimate-related risk disclosure for all sectorsTask Force on Nature-Relat

209、ed Financial Disclosure(TNFD)Disclosure RecommendationsNature risk reporting and disclosureNature-related risk disclosure for all sectorsGHG Protocol Land Sector and Removals(final guidance forthcoming)GHG accountingEmissions and removals from land management,land use change,biogenic products,carbon

210、 dioxide removal technologies and related activitiesQuantis Accounting for NCS Guidance GHG accounting For use until the final GHG Protocol Land Sector and Removals is launched in 2023 SBTi Net-Zero StandardFor all companies to deliver long-term decarbonisation of their value chains,including the FL

211、AG sector,and for all companies to neutralise the impact of residual emissions once long-term targets have been achievedMeeting net-zero targetsNature-based Solutions for corporate climate targetsViews regarding the corporate use of Nature-based Solutions to meet net-zero goalsNature-based Solutions

212、 in corporate climate strategies18SBTi FLAG GuidanceFLAG sector delivering emissions reductions and removals in its value chains,consistent with the 1.5C global goalMeeting science-based targets in the FLAG sectorSBTi BVCM(final guidance forthcoming)All sectors channelling finance beyond their own v

213、alue chains into mitigation outcomes,including,but not limited to natureInvesting in NbS beyond value chainsSBTN Land Targets(draft guidance)Corporate target setting at entity and landscape level to deliver nature outcomesFor steps 2 and onwards in connection to interventions for freshwater and land

214、Accountability Framework initiativePrinciples for implementation of deforestation and conversion-free supply chainsNot specifiedRace to ZeroVerifying science-based and Paris-aligned net-zero commitments Not specified3.1.Assessing and disclosing climate and nature-related risksRobust corporate climat

215、e strategies should be informed by transparent monitoring,assessment and reporting of potential risks,dependencies and impacts on nature.Assessments of corporate risk from climate change should cover both physical risks(e.g.hazards such as heat waves,floods,wildfires and impacts such as biodiversity

216、 loss)and transition risks(e.g.financial and social challenges related to the economic transition required to meet climate targets).Risk assessments can also be utilised to identify opportunities,for example,using NbS to mitigate physical risks associated with rising sea levels and extreme weather e

217、vents.90Numerous frameworks and guidelines are available to support risk and opportunities monitoring and reporting,including emerging guidance for assessing and disclosing nature-related risk.The Task Force on Climate-related Financial Disclosure(TCFD)requires businesses to identify,manage and repo

218、rt on climate-related risks using scenario analysis.The TCFD framework includes reporting on operational and value chain emissions and anticipating climate risks and opportunities to inform corporate climate strategies.91 On the other hand,the Task Force Nature-Related Financial Disclosure(TNFD)aims

219、 to provide a framework for organisations to assess nature-related dependencies,impacts,environmental risks and opportunities to divert much-needed finance into nature-positive action.TCFD and TNFD contribute to a broader reporting architecture.Nature-related risk is generated by biodiversity loss a

220、nd ecosystem degradation.This may be manifested as dependency risk,where negative impacts on nature reduce the ability of corporations to generate revenue,and impact risk where companies operations damage nature.Given the complex array of factors and the location specificity,nature-related risks and

221、 impacts are difficult to measure without a good understanding of the local socio-ecological conditions.The TNFD proposes an approach to move from nature-Nature-based Solutions for corporate climate targetsViews regarding the corporate use of Nature-based Solutions to meet net-zero goalsNature-based

222、 Solutions in corporate climate strategies19 negative to nature-positive activities.The IUCN Measuring Nature-Positive approach can help companies identify and measure impact risk and generate opportunities to move towards delivery of targets for ecosystems and species.The Science Based Targets Netw

223、ork(SBTN)framework can help identify targets for land use and freshwater use.Together,these frameworks may help facilitate disclosure and action in line with the goals and targets of the GBF92 on climate and nature and help to identify any nature trade-offs between actions and targets for nature and

224、 climate93(see Box3).Box 3.Emerging nature-related reporting guidanceThe Task Force on Nature-Related Financial Disclosure94To facilitate measurement and reporting of nature-related impacts and dependencies,the TNFD is developing a risk management and disclosure framework for organisations to report

225、 and act on evolving nature-related risks,with the aim of supporting a shift in global financial flows from nature-negative to nature-positive outcomes.The Task Force consists of 34 individual Task Force Members representing financial institutions,corporate and market service providers with USD 19.4

226、 trillion in assets.The TNFDs work will build on several principles:Develop a framework for market usability;Follow a science-based approach;Embrace nature-related risks that include immediate,material financial risks;Be purpose-driven;Build integrative and adaptive measurement and reporting framewo

227、rks;Employ an integrated approach to climate and nature-related risks,scaling-up finance for NbS;and Ensure the framework is globally inclusive.The IUCN Measuring Nature-Positive ApproachA consultation document of this approach will be under review by the IUCN members in November 2023.It contains dr

228、aft pathways for companies to identify,prioritise and act on opportunities to reduce impact risk for species and ecosystems,in line with the GBF goals and targets.The approach identifies separate pathways for companies with direct landholdings,those involved in important commodity value chains,and f

229、inance companies that invest in a combination of these.Kunming-Montreal Global Biodiversity Framework 95At the fifteenth meeting of the Conference of the Parties(COP 15)to the Convention on Biological Diversity,and after a four-year consultation process,the GBF was adopted.The GBF lays out an agenda

230、 of four major goals and 23 targets for 2030 to transform the world through restoring,protecting and sustainably using nature.The GBF has been described as a“Paris Agreement for nature”96 due to the historic,high-level agreement by policymakers across the world that secured it.Within the GBF,Target

231、15 was adopted to encourage and enable the private sector to monitor,assess and disclose risks and impacts on biodiversity;promote sustainable consumption;report on compliance with regulations to reduce biodiversity-related risks to business and financial institutions;and promote actions to ensure s

232、ustainable patterns of production.Guidelines on reporting against the GBF are expected to emerge in the coming months.Nature-based Solutions for corporate climate targetsViews regarding the corporate use of Nature-based Solutions to meet net-zero goalsNature-based Solutions in corporate climate stra

233、tegies20A central component of a companys risk is its direct impact on nature,including GHG emissions.According to the GHG Protocol,97 all companies should account for their scope 1(direct emissions),scope 2(indirect energy use emissions)and scope 3(other indirect emissions in a companys upstream an

234、d downstream value chain).98 For agricultural companies,scope 1 emissions must include direct emissions from agriculture and forestry activities.For many companies,especially those with extensive supply chains,scope 3 can constitute most of their emissions.The GHG Protocol advises companies to discl

235、ose a breakdown of annual emissions and historical data for each source.As a recent analysis shows,companies have ample opportunities to incorporate nature-related considerations in their assessments and reporting on risks,impacts and responses.99Having completed a corporate climate and nature-relat

236、ed risk assessment and tracked GHG emissions within a companys inventory and beyond,corporates should be ready to:(a)identify opportunities,such as applying NbS interventions to mitigate climate impact and advance nature-positive actions;and(b)set emissions reduction and nature-positive targets.The

237、following section will cover target setting using available guidance.3.2.Setting and achieving credible net-zero targetsTarget setting is a critical component of a companys strategy to reduce impacts on climate and nature.There are many possible transition pathways toward achieving a state of global

238、 net zero emissions,each with different implications for our climate,nature and society.SBTi100 provides authoritative guidance for setting corporate emission reduction targets in line with the latest climate science,including for net-zero targets.SBTi defines corporate net zero as“achieving a state

239、 in which the activities within a companys value chain result in no net impact on the climate from GHG emissions.”101 Specifically,a credible net-zero pathway entails reducing scope 1,2 and 3 emissions to zero or to a residual level consistent with reaching net zero emissions at the global or sector

240、 level in eligible 1.5C-aligned pathways(see Box 4).Crucially,SBTi requires companies to neutralise residual emissions by the net-zero target year and thereafter.SBTis Net-Zero Standard provides guidance for companies from different sectors to set credible net-zero targets.SBTi proposes a science-ba

241、sed framework for setting near-term and long-term targets to achieve net zero emissions by 2050.Importantly,near-term and long-term targets are not interchangeable;these targets are complementary,and both must be adopted for a company to have an approved SBT.1.Near-term science-based targets are mea

242、nt to identify immediate opportunities,galvanise the action required for significant emission reductions to be achieved by 2030,and align with the decision horizon of most businesses.Default near-term targets require companies to reduce annual emissions at an average rate of 2.5%to 4.2%to be consist

243、ent with a 2C goal or a greater reduction for a 1.5C goal over the target period.102 Near-term targets do not have a specific end year but must have a target year 510 years from the date of submission to SBTi.Nature-based Solutions for corporate climate targetsViews regarding the corporate use of Na

244、ture-based Solutions to meet net-zero goalsNature-based Solutions in corporate climate strategies21 Box 4.SBTi 1.5C-aligned pathwaysAccording to the IPCC,the remaining budget to limit global warming to 1.5C with 50%probability is an estimated 460 Gt CO2.103 SBTi uses a 1.5C-aligned pathway that stay

245、s within the 500 Gt CO2 budget to reach net-zero CO2 at the global level by 2050,assuming at least 14 Gt CO2 removal per year by 2050.The SBTi has developed a cross-sector emissions corridor within this framework that covers CO2,CH4 and N2O emissions from energy supply,buildings,industry and transpo

246、rt based on published studies and expert judgement.Based on the emissions corridor,the SBTis cross-sector pathway reduces emissions by at least 42%by 2030 and 90%by 2050 from 2020 levels104 before considering the impact of CO2 removals.Outside the boundary of the cross-sector emissions corridor,defo

247、restation from internationally traded commodities should be eliminated before 2030;total emissions from deforestation should be eliminated by 2050;and agricultural CH4 and N2O emissions should be reduced through a combination of strategies.These profound emissions reductions across all sectors must

248、be complemented by swift action to scale-up CO2 removals under conditions that resolve social and environmental concerns while aiming to maximise storage durability.2.Long-term science-based targets drive long-term business planning and substantial capital investments to achieve the global emission

249、reductions needed to combat climate change.The SBTi Net-Zero Standard requires companies to explicitly commit to emission reductions of at least 90%below 2019 levels across all scopes and a companys full value chain.These long-term targets must be achieved no later than 2050(or 2040 for the power se

250、ctor).105SBTi proposes a science-based framework with different approaches for companies to achieve net zero(see Figure 5).1.Abatement(black bars)includes measures that prevent the release of GHG emissions within the companys operations and its value chain.All companies can use NbS to abate/reduce e

251、missions directly(see Figure 6),while the FLAG sector may also use removals,such as NbS insetting,as abatement efforts(see Box 5).2.Neutralisation measures(purple bars)include the use of GHG emissions removals and permanent storage to neutralise a companys residual emissions.A company would only neu

252、tralise residual emissions once its long-term target has been achieved.All residual emissions released into the atmosphere after the long-term target has been achieved must be neutralised(see Section 3.3).3.BVCM measures(grey area)include GHG emissions reductions that result from financing activitie

253、s external to the companys value chain.BVCM investments are contributions to societal net zero and can include NbS credits(see Section 4).Nature-based Solutions for corporate climate targetsViews regarding the corporate use of Nature-based Solutions to meet net-zero goalsNature-based Solutions in co

254、rporate climate strategies22Figure 5.Key elements of a net-zero approach.Source:SBT.(2023).SBTi Corporate Net-Zero Standard Version 1.1.SBTi.https:/sciencebasedtargets.org/resources/files/Net-Zero-Standard.pdf 2A.Short-term targetsKEYApplicable guidelinesImplementation actionsNon-FLAG sector applica

255、tion of NbSAbatementNeutralisationCarbon removal(TBC if this includes NbS removals for all sectors)2B.Long-term targets1.GHG ACCOUNTINGGuidelines:GHG ProtocolGuidelines:GHG ProtocolGuidelines:IUCN Global Standard on NbSGuidelines:IUCN Global Standard for NbSIf applicable2.TARGET SETTING3.BEYOND VALU

256、E CHAIN MITIGATIONFigure 6.Opportunities to apply NbS for non-FLAG sector companiesNature-based Solutions for corporate climate targetsViews regarding the corporate use of Nature-based Solutions to meet net-zero goalsNature-based Solutions in corporate climate strategies23 Box 5.Climate and nature t

257、argetsMultiple guidelines on corporate target setting are poised to shift expectations for corporate climate and nature ambitions.The SBTi FLAG guidance outlines SBTi-compliant pathways for land-intensive sectors for 1.5C and well-below 2C pathways based on land-related GHG emissions and removals.10

258、6,107 The FLAG guidance will enable land-intensive sectors that account for 22%of global emissions to develop emission reduction targets in line with climate science.The SBTi guidelines incentivise emissions reductions and removals,including a no-deforestation commitment.To avoid risks of having adv

259、erse effects on nature or biodiversity,such as planting monoculture plantations to sequester carbon,which can undermine biodiversity and resilience in the local ecosystem,companies should complement corporate action with the Global Standard for NbS to avoid these critical negative consequences.Meanw

260、hile,the SBTN has published Science-based Targets for Nature,which expands on the SBTis FLAG guidance,looking beyond climate change and including guidelines to set up targets focused on nature(freshwater and land systems).The freshwater targets are ready for companies to use,and the land targets hav

261、e been released as a beta version for piloting before a version 1 rollout anticipated in early 2024.The current SBTN freshwater(v1)target-setting protocol focuses on issues like water use,pollution and effluents,pesticide use,erosion control and other actions which promote can reduce pressures on bi

262、odiversity.SBTN Land targets also go beyond the SBTis zero-deforestation commitment and focus on reducing land use change and participate in land use planning processes108.The SBTN target-setting protocols will be complemented by the IUCN Measuring Nature-Positive approach which enables companies to

263、 identify and set targets for species and ecosystems.In addition to SBTis FLAG guidance,the SBTs for nature are expected to complement the Accountability Framework initiative and GHG Protocol Land Sector and Removals Guidance and agreements like the GBF.The integration of nature and climate targets

264、is necessary to safeguard nature.Moreover,a focus on land indicators,because of their spatial nature,will also favour system-level,multi-stakeholder solutions.Land indicators often involve landscape and jurisdictional solutions,interventions that consider interactions between landscapes(e.g.biodiver

265、sity corridors in habitat restoration)and require more significant community engagement.Land indicators integrated into nature,climate and people will enable companies to manage compounding risks better and align their strategies with a net zero,nature-positive and equitable future.Setting and achie

266、ving net-zero targets for the land use sectorNbS are particularly important for land-intensive sectors given their outsize role in generating land-based emissions,and their vulnerability to the impacts of climate change and biodiversity loss.Globally,forests and agriculture account for 31%109 and 38

267、%110 of total land area,respectively.Because of the sheer physical scale of the FLAG sector(agriculture accounts for half of the worlds habitable area111),not to mention its importance to the economy and millions of livelihoods across the world,the land sector serves as a distinct entry point for Nb

268、S implementation.Land use change,including deforestation and degradation,accounts for 1012%of global GHG emissions.112 Companies in land-intensive sectors must commit to no deforestation across their primary deforestation-linked commodities by 2025 to operate in line with Nature-based Solutions for

269、corporate climate targetsViews regarding the corporate use of Nature-based Solutions to meet net-zero goalsNature-based Solutions in corporate climate strategies24a net-zero pathway.These commitments should be tracked and implemented using the Accountability Framework initiative guidance.113While em

270、issions from land use change have not been regularly included in corporate GHG inventories,new guidance for the FLAG sector will improve emissions accounting and reporting.The forthcoming GHG Protocol Land Sector and Removals Guidance will guide companies in calculating GHG emissions and removals fr

271、om land-based activities.114 This guidance suggests companies in the land sector follow the principles of relevance,completeness,consistency,transparency,accuracy,conservativeness and permanence when compiling a GHG inventory that includes land sector activities and/or removals.115Meanwhile,SBTi rec

272、ently published FLAG Guidance116 to aid companies in setting science-based targets that include land-related emissions and removals117.Under the guidance,FLAG companies long-term targets must be more ambitious than the default pathway by covering at least 95%of scope 1 and 2 emissions generated by a

273、griculture,forestry and other land use(AFOLU)activities.They must also cover at least 67%of scope 3 AFOLU emissions.118 Companies with AFOLU emissions are also required to set FLAG SBTs specific targets that cover the portion of their emissions generated from the land sector as well as default SBTs

274、to cover the non-AFOLU activities of the company.119NbS may be utilised in all aspects of climate management by companies operating in the FLAG sector(see Figure 7).120 FLAG companies also have a unique path to meeting near-term targets.These companies can include removal activities through on-farm

275、or forest-based projects within their own scope 3 supply chain boundary121 to abate their value chain emissions.This practice known as insetting can be contrasted with offsetting,which refers to emissions removals achieved through projects unrelated to a companys supply chain122(see Box 6).FLAG comp

276、anies can also meet near-term targets by reducing emissions from deforestation and degradation(via a no deforestation commitment),reducing emissions from agriculture,restoring forests,improving forest management and enhancing soil health.FLAG sector application of NbS1.NO DEFORESTATION COMMITMENT4.B

277、EYOND VALUE CHAIN MITIGATION2.GHG ACCOUNTING3.TARGET SETTINGGuidelines:Accountability Framework InitiativeGuidelines:IUCN Global Standard for NbSGuidelines:SBTi Net-Zero StandardGuidelines:GHG Protocol Land Sector and Removals Guidance3A.Short-term targets3B.Long-term targetsAbatementCarbon removals

278、Carbon removalsCarbon removalsInsettingInsettingNbS creditsAbatementNeutralisationGuidelines:IUCN Global Standard for NbSKEYApplicable guidelinesImplementation actionsFigure 7.Opportunities to apply NbS within the FLAG sectorNature-based Solutions for corporate climate targetsViews regarding the cor

279、porate use of Nature-based Solutions to meet net-zero goalsNature-based Solutions in corporate climate strategies25 Box 6.NbS insetting123According to the Nature-based Insetting initiative of the University of Oxford,nature-based insetting targets activities along a supply chain where NbS can be dir

280、ectly integrated,developed and monitored.NbS insetting involves implementing NbS withina companys supply chain to offset damage to the climate,biodiversity and people,and to increase the resilience of supply chains.Insetting also involves embedding the value of biodiversity and consideration of clim

281、ate into all levels of decision-making.124For example,implementing agroforestry across commodity-production landscapes and protecting and restoring nearby ecosystems in adjacent areas to company value chains can enhance yields and encourage landscape-wide transformations.Such activities also make co

282、mmodity supply chains more resilient to the effects of climate change,such as the increasing intensity and frequency of droughts,flooding,fire and pests.Other NbS insetting examples include soil sequestration on farm and pasture,conservation set-asides and implementing silvopasture practices.125The

283、use of insetting carbon credits in value chains should consider the differences and challenges in carbon accounting methods to be used for insetting(intervention or project accounting)versus the required inventory accounting for scope 1 to 3 GHG emissions,which have different baselines as well as ot

284、her carbon accounting disparities.Moreover,the GHG Protocol Land Sector and Removals Guidance draft requires companies to avoid double counting between insets and the scope 3 inventory.A way to address this risk is to purchase and retire carbon credits from suppliers or other value chain partners as

285、 part of their scope 3 inventory.126New approaches are emerging to support companies in making informed decisions on managing their impact on the environment and society.Nature-based insetting draws on these innovations to develop a robust strategy for monitoring and managing impacts and implementin

286、g NbS to future-proof supply chains.The Nature-based Insetting initiative provides a framework and monitoring strategies to allow companies to better understand their social and environmental impacts and dependencies,improve the value and resilience of the landscape they impact,and meet social,natur

287、e and net-zero pledges.3.3.Neutralising residual emissionsOnce a companys emission reduction target has been validated as an SBT and the target has been met,any residual emissions(see Box 7)are expected to be neutralised with an equivalent amount of CO2 removals.However,there is a needfor greater cl

288、arity from standard setterssuch as the SBTi on the role of NbS foruse in neutralising residual emissions(e.g.whether they could be used by all industries and which type of NbS removals could be considered)guidance is forthcoming.What is generally agreed upon is that neutralisation should not be used

289、 as a replacement for emission reductions but can be used to address projected non-abated emission reductions.Residual emissions should decrease over time as emissions are increasingly abated directly.Residual emissions must be neutralised with removals rather than avoided emissions reductions compa

290、red with an expected outcome or baseline.For example,under REDD+(Reducing Emissions from Deforestation and forest Degradation in developing countries),conservation of forest carbon stocks,sustainable management of forests and enhancement of forest carbon Nature-based Solutions for corporate climate

291、targetsViews regarding the corporate use of Nature-based Solutions to meet net-zero goalsNature-based Solutions in corporate climate strategies26stocks would be considered removals except for the avoided emissions from projects which preserve existing biomass and embedded CO2 that may otherwise have

292、 been emitted,leaving existing CO2 untouched.As they do not sequester additional CO2,they would not count toward neutralisation.To ensure additionality and consistency with the science of net zero127,calculations of carbon removed through NbS must exclude the CO2 that would be absorbed by an equival

293、ent area of unmanaged land or ocean in response to past emissions,through CO2 fertilisation,for example.The physical permanence of carbon removals from NbS interventions comes with higher uncertainties than other carbon dioxide removal technologies.To counteract the risk of reversal,it is critical t

294、o ensure that there are remedies for non-permanence risks,including framing the interventions within contracts that ensure long-term climate benefits,often defined as 100 years,as well as consequences of carbon removal reversals for direct or indirect causes.128Neutralisation measures include the re

295、moval and permanent storage of CO2 to a companys residual emissions.Both FLAG and non-FLAG companies could utilise removals including purchased carbon credits to neutralise residual emissions in the interest of meeting long-term targets.In addition,companies should take responsibility for unabated a

296、nd historical emissions by making climate contributions to support climate change mitigation beyond the value chain without making a neutralisation claim.129 As mentioned above,current discussions are underway under the SBTi to determine the role of NbS for use in neutralising residual emissions.The

297、 application of NbS for climate and nature-related impacts are interconnected.Companies should set nature-positive targets using guidance from SBTN to complement climate targets(see Box 5).Societal net zero and nature-positive goals require investments beyond operational and value chain mitigation t

298、o drive transformative change(see Section 4).Box 7.Residual emissions130According to scenarios that limit warming to 1.5C with no,or limited,overshoot,most of the emissions our economy generates today will have to be eliminated by mid-century.However,some residual emissions will remain unabated when

299、 net zero is reached.Some of these emissions will continue to be reduced throughout the second half of the century.In contrast,others will likely remain unabated throughout the 21st century due to technical or economic constraints.Determining the level of residual emissions allowable for different a

300、ctivities and from different sectors of the economy at different points in time is based on 1.5C-aligned mitigation pathways.Nature-based Solutions for corporate climate targetsViews regarding the corporate use of Nature-based Solutions to meet net-zero goalsNature-based Solutions and societal net z

301、ero27 4.Nature-based Solutions and societal net zeroReaching a societal state of net zero by 2050 will require deep decarbonisation of all industries to reduce global emissions 9197%below 2010 levels.131 Although companies must prioritise emissions abatement,the SBTi Net-Zero Standard and other emer

302、ging guidance,including SBTN,states thatcompanies should go further and invest in mitigation outside their value chains to contribute to reaching societal net zero and nature-positive outcomes(see Figure 8).Of particular importance are the investments to protect areas with irrecoverable carbon reser

303、ves and nature hotspots that provide key ecosystem services for local to global communities.132,133Such investments in NbS outside of corporate net-zero efforts will be required and are increasingly being taken up by the private sector as BVCM activities or what Corporate Climate Responsibility Moni

304、tor defines as climate contributions and engagement with NbS credits.There are several motivators and deterrents to investing in BVCM,which need to be addressed strategically to ensure scaled-up investment.The latest SBTi consultation on this sheds light on some of these actions,including demands fr

305、om consumers,customers,investors and peer pressure.134To ensure that achieving global net zero emissions stops global warming in line with the Paris Agreement goals,it is essential that carbon uptake from NbS is measured relative to a counter-factual baseline that includes carbon uptake that would o

306、ccur on unmanaged land or oceans in response to past emissions,as a consequence of elevated and rising atmospheric CO2 concentrations.135 Based on this,the carbon flux that can be counted as a negative emission would be less than the observed carbon flux into a piece of land or ocean.Failure to take

307、 this into account would mean that a nominal net zero global CO2 emissions would not actually be enough to stop global temperatures from rising.4.1.Nature-based Solutions in beyond value chain mitigationBVCM refers to climate mitigation activities financed by a company but taking place outside its v

308、alue chain.These are often investments into mitigation activities where the resulting emission reductions are not reflected in a companys inventory or net-zero target but instead count as a contribution to a global net-zero goal.136 These can include activities that avoid or reduce GHG emissions or

309、enable removals and are expected to be employed by companies in all sectors,including those with and without residual emissions(see Figure 8).137While corporates must remain focused on value chain abatement,implementing BVCM is also essential for protecting ecosystems and enhancing ecosystem service

310、s.BVCM can,for example,include investments in and/or the purchase of carbon credits from NbS interventions that avoid or reduce emissions from deforestation and forest degradation and capture and store CO2 via restoration of natural forest and non-forest ecosystems.Importantly,BVCM investments in Nb

311、S should not only focus on removals but prioritise immediately available mitigation actions that can be taken to protect,conserve and manage existing carbon sinks.Nature-based Solutions for corporate climate targetsViews regarding the corporate use of Nature-based Solutions to meet net-zero goalsNat

312、ure-based Solutions and societal net zero28AbatementAbatementAbatementAbatementAbatementAbatementRemovalsNeutralisationNeutralisationRemovalsRemovalsRemovalsCompany with no residual emissionsEXPECTEDMITIGATION TO SUPPORTSOCIETALNET-ZEROREQUIREDMITIGATION TO ACHIEVECORPORATENET-ZEROCompany with resid

313、ual emissionsCompany with FLAG emissions/removalsBeyond the value chainWithin OR beyond the value chainWithin the value chainFigure 8.Use of removals and neutralisation to meet societal and corporate net zero.Source:SBTi.(2021).Beyond value chain mitigation FAQ(Version 1.0).https:/sciencebasedtarget

314、s.org/resources/files/Beyond-Value-Chain-Mitigation-FAQ.pdfThere is not a widely accepted list of activities that falls under BVCM,but the term generally includes investments that drive climate finance towards NbS(see Table 3).For example,landscape finance,jurisdictional programmes and result-based

315、payments could all count,focusing on interventions across different ecosystems.138 BVCM can also include carbon removals stemming from restoration efforts or from the management and enhancement of carbon sinks(terrestrial,coastal and marine).Examples include conserving high integrity in tropical for

316、ests and peatlands to contribute to avoiding global emissions since intact and healthy ecosystems can act as significant carbon sinks.139 The latest SBTi BVCM draft guidelines present six principles to guide private sector investment decisions,including prioritising activities with short-term high-m

317、itigation potential,contributing to avoid tipping points(therefore investing in the protection and restoration of natural ecosystems,for instance),supporting the achievement of the SDGs,addressing inequality with strategic investments and transparency in benefit-sharing,among others.140Further guida

318、nce from SBTi details BVCM approaches and how they align with other targets and guidelines.141 BVCM that adhere to a holistic nature-positive approach would ensure high-quality,equitable interventions that embrace the principles of NbS.Nature-based Solutions for corporate climate targetsViews regard

319、ing the corporate use of Nature-based Solutions to meet net-zero goalsNature-based Solutions and societal net zero29 Table 3.The use of NbS in corporate and societal net zeroCorporate net zeroSocietal net zeroWithin value chainBeyond the value chainNear-term targetLong-term targetAt net-zero pointNo

320、n-FLAG CompanyNeutralisation of residual emissions through permanent removals(under discussion within the SBTi BVCM upcoming guidance)Investment in,and/or the purchase of carbon credits from,interventions that avoid/reduce emissions,and sequester and store carbon Examples Improved forest managementA

321、fforestation and reforestation142Agroforestry systems Jurisdictional REDD+initiatives and ecosystem conservation and restoration activities,such as peatland or mangrove conservation/restorationWithin value chainBeyond the value chainNear-term targetLong-term targetAt net-zero pointFLAG Company Reduc

322、e emissions in supply chainReduce emissions through NbS removalsNbS insetting Neutralisation of unabated emissions through permanent removalsInvestment in,and/or the purchase of carbon credits from,interventions that avoid/reduce emissions,and sequester and store carbonExamples Improved forest manag

323、ementAfforestation and reforestationAgroforestry systemsImproved agricultural practicesSoil organic carbon and shifting to no-till managementBiochar from crop residues Deforestation-free activities and restoration of tropical forestsImproved forest managementAfforestation and reforestationAgroforest

324、ry systemsImproved agricultural practicesSoil organic carbonImproved forest managementAfforestation and reforestation143 Agroforestry systemsJurisdictional REDD+initiatives and ecosystem conservation and restoration activities,such as peatland or mangrove conservation/restorationNature-based Solutio

325、ns for corporate climate targetsViews regarding the corporate use of Nature-based Solutions to meet net-zero goalsNature-based Solutions and societal net zero304.2.Nature-based Solutions and carbon creditsCarbon markets may unlock up to 10%of NbS climate mitigation potential by 2030,144 by driving t

326、he development of projects or programmes that sequester and avoid GHG emissions,and the trade of carbon credits generated by those activities.Many of the credits available through the Voluntary Carbon Market(VCM)are reduction and removal credits(see Box 8),which encompass various activities and can

327、be deployed throughout a companys decarbonisation pathway.Companies may incorporate carbon credits into voluntary climate mitigation strategies to neutralise their unabated value chain emissions and BVCM.However,only carbon credits recognised for neutralisation claims by the SBTi are carbon removal

328、credits.In addition,SBTN is expected to include a provision for using NbS for carbon credits.Initial guidance developed by the WRI on the credible use of carbon credits from nature proposed two broad categories beyond a companys value chain:1451.Carbon credits for counterbalancing the organisations

329、unabated emissions over a given period or counterbalancing historical emissions while on a science-based emissions reduction pathway;and2.Carbon credits for contributing to mitigation in a specific jurisdiction,following supply-side guardrails(see Section 4.3).Carbon credits from nature offer an opt

330、ion for companies to counterbalance current emissions while progressing towards meeting short-and long-term targets and implementing low-carbon technologies.When designed correctly,some NbS credit-issuing activities provide rapid,scalable and cost-effective options that offer significant co-benefits

331、.146 NbS reduction and removal credit-issuing activities also provide increased finance for nature conservation and restoration,biodiversity protection and socio-economic development(see Box 10).147The recent,rapid growth in the VCM is attributed mainly to the growing demand from companies for carbo

332、n credits from nature to contribute to their voluntary climate commitments.This has prompted increased scrutiny of the quality of credits being transacted in the market and of the social and environmental claims made by buyers,where demands persist to ensure robust and credible safeguard systems.Box

333、 8.Clarifying terminology related to climate removalsSeveral terms are used to describe BVCM and/or the neutralisation of residual emissions,including compensation,contribution and counterbalancing GHG emissions.A public consultation undertaken by SBTi in June of 2023 included these terms to discuss their use.The term beyond value chain mitigation clarifies that carbon credits cannot replace emiss