Snippets for 8 October 2020

Welcome to another edition of Snippets.

In this edition of Snippets we have a good selection of articles, starting with a couple of articles that introduce and discuss TCFD (Task Force on Climate related Financial Disclosures) and SBT (Science Based Targets).

We then transition to a series of articles that discuss the intersection of finance and biodiversity, thus broadening the discussion and shifting from a purely climate based focus.

Following on, we have articles that discuss how indigenous peoples, native animals and natural landscapes can provide ecosystem benefits that have been forfeited due to the transactional nature of how society interacts with nature.

We then lift the lid on a GHG accounting loophole and finish off with a few good reasons not to mow the lawn!

As we covered last Snippets, mandatory Climate-Related Financial Disclosures have been proposed in New Zealand which will impact a large number of organisations. The purpose of these disclosures is to improve decision making in warming world and changing regulatory environment. But how can this information lead to better outcomes? This article looks at seven ways Climate-Related Financial Disclosures can inform better decisions around capital expenditure, procurement, operations and risk.Read more.....

Keeping with financial disclosures, there is now a global framework for banks, investors and insurance firms to verify that their climate targets are Paris-Agreement-aligned through the Science-Based Targets Initiative (SBTi). This framework should not only help to increase transparency around the climate impact of financial services but it also calls on financial firms to drive climate action beyond their direct impact. Read more.....

Not only is the financial sector being encouraged to adopt science-based targets, they are also being urged to consider biodiversity risks. Recent research has concluded that many financial institutions have exposure to companies with high, or very high dependency on ecosystem services. The aim of these new initiatives, labelled as the ‘Finance for Biodiversity Pledge’ or TNFD, is to agree on effective measures to reverse nature loss and ensure ecosystem resilience, via their own financing activities and investments. Read more.....

Businesses are increasingly seeing that acting on climate action is not only the right thing to do, it also brings material benefits such as increased investment, improved reputation and overall competitive advantage. However, climate action alone is no longer enough to fend off the multiple environmental crises that our planet is facing. Nature — meaning the land, biodiversity, water and ocean we all depend on — is reaching a point of no return. Nature’s loss, currently responsible for generating over half of GDP, poses a direct threat to our economic well-being. Read more.....

A review of nature based solutions for climate change adaptation has been published, and provides evidence that these play a key role in addressing the impacts of climate change. Nature-based solutions are actions that work with and enhance nature to help address societal challenges while also supporting global biodiversity. Not all solutions are equally beneficial, but nature based solutions should play a role in countries’ plans to mitigate and adapt to climate change. Some of the recent impacts of climate change (eg fires/floods) could have been minimised if these solutions had been implemented.Read more.....

There is a call for the world’s leaders to listen to indigenous people more when considering biodiversity and ecosystems. The world’s failure to embrace their holistic approach to the role of nature’s stewards and guardians lies at the root of the imbalances that are propelling our planets destruction. So much of our world’s biodiversity sits on land where natives are guardians, so letting them have more say just makes sense. Read more.....

Next, we look at some real numbers behind valuing nature. Biodiversity is a core component of natural capital, and there are numerous “co-benefits” that make nature so valuable. But the complexity of natural capital makes its benefits hard to quantify, so investment can seem ”too risky”. To reduce the erosion of natural capital, there is a call for the permanent conservation of at least 30% of the planet’s surface by 2030, nearly doubling nature conservation. This could have a measurable impact and could make a compelling case for investment. Read more.....

The North American Beaver is an animal that sometimes gets a bit of a bad rap. However, it turns out they are excellent firefighters and can also create safe havens for many other species when large fires do happen. They are excellent managers of the spaces they dam and live in, which also just happen to improve water quality as the wetlands act like a giant filter. Maybe they should be treated with more respect and worked with? Read more.....

What happens when what sounds like a good idea turns out to be bad? The EU has been substituting biomass for coal as a way of addressing climate and emissions concerns for some time now, but has it worked? Not when you have a statement from 796 scientists that says in part ‘the fates of much of the world’s forests and the climate are literally at stake.” This really is a case of legislation with loopholes so big you could drive a logging truck through them! Read more.....

We finish this edition with lawns, of all things! In New Zealand, the traditional ¼ acre section came with a nice plot of lawn. Surprisingly, Aucklanders spend $131 million on lawn upkeep every year. But what if we let nature take over by not mowing it so much and allowing the lawn to become a meadow? This provides benefits in GHG emissions, pollution and also boosts biodiversity. Maybe this summer consider cutting the lawn less or letting some of it grow wild. Read more.....

This week we bring you a look at aviation of the future - some interesting options for long haul flight

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