The recent UNEP Adaptation Gap Report concludes that, although three-quarters of countries have some adaptation plans, financing and implementation of adaptation actions are well below what is required to avoid costs, damages and losses related to the climate and health emergency.
At ClimateTrade, because our positive impact plan is based on the UN Millennium Assessment, it was aware of the risk we had this decade of suffering a pandemic due to zoonoses such as COVID-19. Since our birth, we have been adding mitigation projects and carbon credits based on the conservation of ecosystems.
We rely on nature and the power of healthy ecosystems to protect people, optimise infrastructure and safeguard a stable and biodiverse future.
We are pleased that the UNEP report places particular emphasis on NbS nature-based solutions, which concludes that they should receive significantly more funding and attention, given the low-cost benefits they bring to climate change adaptation, society and biodiversity.
McKinsey estimates a practical potential of about 7Gt of CO2 per year from NbS projects, enough to meet about a third of that goal and achieve short-term carbon removal at a lower cost than technology solutions. Most of this total comprises four types of NbS: avoided deforestation, peatland impact, peatland restoration, reforestation, and cover crops.
At ClimateTrade we promote more than 15 NbS projects of this type, including others that we consider very relevant for health in cities, such as BioUrban, which due to its bioalgae reactor, we must also consider it a NbS.
In addition, our decentralized platform solves the barriers that prevent reaching the potential of NbS, its potential for scale due to various conceptual and technical obstacles such as the lack of consensus on how to treat the ownership of sequestered carbon, provide clarity on the rules and the certification under an international body of commonly accepted standards, overcoming the lack of confidence after years of excess supply of carbon credits but at very low prices that did not help communities to survive.
ClimateTrade can deliver a clear demand signal to build trust and unite the corporate, public and social worlds. We have the architecture, the infrastructure and we can meet the demand for financing from our corporate clients, to support the growth of NbS that produce carbon credits, as established in the recent report of the Working Group on the expansion of the Voluntary Carbon Markets (TSVCM), of which we are members for different working groups.