Forum discusses action on climate and nature
The CEO of the CBA Marc Palahí attended the Climate and Nature Finance Mobilisation Forum on 21 September at the National Museum of Natural History in Paris. At the event, President Macron and His Majesty King Charles III heard how key organisations from the private and public sector are supporting action on tackling climate change and nature loss in emerging and developing economies.
Participants at the forum, including CBA member LVMH, discussed practical actions that investors and companies are already taking, and what more can be done to increase investment, particularly in emerging markets and developing economies.
Marc Palahí said: “We need to avoid seeing Nature as a “tactic” to compensate for our “broken” economic system (i.e. an offsetting approach) but rather take the view that Nature is our best “strategy” and business partner to transform our economy. Investing holistically in nature-based solutions and circular bioeconomy opportunities is key to both restoring Nature and transforming fossil-extractive sectors into renewable and regenerative ones.
For example, the Circular Bioeconomy Alliance’s Living Lab in Chad is rethinking the landscape-value chain for cotton, thanks to the support of LVMH. It puts forward new sustainable and regenerative methods of cotton production while restoring biodiversity and creating economic opportunities for the local population linked to sustainable cotton value chains. The project also involves another of CBA’s members, the International Rescue Committee, which has extensive experience in crisis management and livelihoods restoration.
Mobilising investments at scale for climate-biodiversity requires new partnerships between financiers, corporations and local operators supported by the best science and technology available.”
Marc also accompanied His Majesty on a visit to the Floirac experimental forest in Bordeaux on 22 September, to see the devastating impact of last year’s forest fires, and how the community has recovered. They also heard how fire prevention and forest resilience strategies have been implemented on the ground.
More information
Read the joint statement on the Forum by the UK and French governments: https://www.gov.uk/government/news/joint-uk-france-statement-climate-mobilisation-forum
Photo: PA Images / Alamy Stock Photo
