Post 2020 Local and Subnational Government Information Webinar

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Rebalancing our economy with nature

ICLEI hosted its monthly webinar on March 4th, reflecting on the Dasgupta Review.

Local and Subnational Governments.

This webinar reflected on the recently published Dasgupta Review, its implications for green recovery, protecting nature and sustainable economic development in cities and regions, and how this informs local and subnational action for biodiversity. As part of this discussion the webinar also focused on the issue of resource mobilization within the CBD post-2020 process. Updates on current and forthcoming events and milestones on the post-2020 roadmap to CBD COP 15 were also provided.

There is a diversity of solutions to generate nature- positive financial flows: market-based mechanisms, carbon markets, conservation easements, green bonds, etc. But it is more how and where we use them that make them effective.” Nikara Mahadeo ICLEI CBC

On the roadmap to CBD COP 15, recent highlighted achievements included SBSTTA24 informal sessions’ joint statement made on behalf of local and subnational governments’ constituencies on scientific and technical information to support the review of the updated goals and targets, and related indicators, also available on the CBD website. A major update also relates to the separate posting the Edinburgh Declaration and Plan of Action consultation responses in the CBD documents CBD/SBI/3/INF/25&26.

Among the milestones events achieved across the past month, the statement delivered across the fifth session of the United Nations General Assembly for the Environment where UNEP committed to address the 3 major environmental crisis (climate change, biodiversity loss and pollution) was stressed as it made a more robust reference to local and subnational governments role in addressing those. Participants were also debriefed on the Nature of Cities Festival seed session “Financing the green cities that we want” held on 23 February 2021 and the Global Youth Biodiversity Network (GYBN) constituency activities in the coming month.

One of the 3 draft resource mobilization components of the post 2020 global biodiversity framework relates to effectiveness and efficiency in resource mobilization, which is mainly achieved at the local level and can only be enhanced through partnerships.” Ingrid Coetzee ICLEI CBC

As part of the global agenda on rebalancing our economy with nature, Nikara Mahadeo

provided an overview of the Dasgupta Review and explained the key role of cities in implementing its recommendations. While nature has not been reflected in market value, our economies are deeply embedded in nature. Just as perverse incentives to damage nature reach an estimate 4 to 6 trillion dollars/year, cities acting jointly with finance have the leverages to change how society think, act and measure success making sure that demands do not exceed supply, measuring economic success with natural capital accounting and transforming our institutions and systems, particularly the finance and education ones. Among the diversity of solutions to generate nature- positive financial flows (market-based mechanisms, etc.), cities must play a role not only to protect nature but also to generate the financial flows and unlock the 4 biodiversity financing channels identified by Dasgupta (revenue creation, current expenditures realignment, future expenditures reduction and more effective biodiversity management efforts). Cities are also instrumental to build concrete cases for biodiversity defining audience, framing arguments, compiling evidences, identify counter arguments and present the case to investors.

Dialogues between cities & investors are key to scale up action & get it implemented on the ground. The local economies of countries really depend on nature.” Kobie Brand, Deputy Secretary General, ICLEI.

The webinar also accounted how local and subnational governments governance level was addressed in the draft resource mobilization components of the global biodiversity framework. As this later includes mainstreaming as a fundamental approach to its 3 components, it stresses the crucial importance to achieve a whole of government, a whole of economy and a whole of society approach. In particular, the relevance of cities to ensure effectiveness and efficiency of resource mobilization as government expenditures management are mainly achieved at the local level. Equally their role in reducing harmful subsidies to biodiversity as well as in creating generate additional revenues and opportunities for investment in nature through innovative partnerships was put forward.

Dialogues between cities and investors are key to scale up action and get it implemented on the ground. The local economies of countries really depend on nature.  1/3 of the world largest cities depend directly on protected forests for their water.” Kobie Brand, ICLEI CBC Director

Finally the webinar ended with reflections on the importance of ‘rebalancing our economy with nature’ for cities in the UN Decade on Ecosystem Restoration, calling on participating local and subnational governments to align their wording and talk the language of finance (banks, ODA, etc.) and integrate agendas on biodiversity, food security, health, and climate change as part of the UN Decade Restoration and attainment of the SDGs

A joint statement is also under preparation for SBI-3 informal session scheduled next week, to cover resource mobilization, capacity building, mechanisms for reporting and assessment. The webinar on resource mobilization for biodiversity organized by the Post 2020 Biodiversity Framework – EU support project on 31 March 2020 will also deepen the reflection engaged across this webinar.

Register now to the coming webinars by clicking here: 

  • 1 April 2021
  • 6 May 2021
  • 3 June 2021
  • 1 July 2021

 Watch ICLEI’s Post 2020 webinars here

Check ICLEI’s Local and Subnational Engagement Platform here

 

 

 

 

 

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