Organizer: Led by Fauna & Flora in collaboration with WBCSD
Speaker: Sabine Hoefnagel, Global Head of Sustainability and Risk, ERM Board member
The Voluntary Carbon Market (VCM) is emerging from a period of intense scrutiny, and its evolution and reform is ongoing. Whilst there is broad consensus on the need for change, amid the urgency of reversing nature loss by 2023 and recognizing the vital role of nature in global climate action, the VCM is one of the most significant and effective levers available to channel private finance into protecting and restoring our precious ecosystems. We need all the tools available to help close the very significant funding gap for nature and the people on the frontline of nature-based climate action. This event will convene experts in the sector to debate constructive paths forward on three ‘Challenge Questions’. The objective is to highlight big ideas and actions needed to collectively strengthen the VCM for Natural Climate Solutions (NCS), to deliver its true potential for climate, nature and people.
- How is every dollar invested in NCS mechanisms needed to ‘fix the VCM finance pipe’ – to bring transparency and get the finance to those on the front line of delivering impact?
- Biodiversity loss and climate change are linked crises, with linked solutions - but there is wide variation in how much NCS initiatives prioritise and/or can demonstrate biodiversity benefits. How can we strengthen nature outcomes across the board, in ways that are valued by the market?
- How do we transition legacy NCS projects into a VCM 2.0 for nature and people?
ERM will be hosting a break-out session on the finance transparency table.