Why voluntary carbon markets for nature are needed right now
- Media Manager
- Aug 23, 2023
- 1 min read
World Economic Forum
Climate and Nature
Published: August 24th, 2023
Nature-based solutions (NbS) can provide up 30% of the mitigation needed to limit global warming to 1.5ºC above pre-industrial levels by 2030.
The voluntary carbon market can help mobilize public sector finance towards NbS, particularly in the Global South where it is most urgently needed.
While the solution is not an alternative to rapid decarbonization within value chains, NbS can play an invaluable role in reducing and removing emissions.
The best available science makes clear the devastating impacts if global average temperatures surpass pre-industrial levels by more than 1.5°C. However, it is widely agreed that avoiding this scenario is not achievable without sustained and rapid industrial decarbonization.
It is also widely agreed that we need nature-based solutions (NbS), which can provide up to 30% of the mitigation required by 2030 in order to keep the 1.5°C target in reach. NbS are a collection of nature-based approaches that both reduce and remove emissions, such as avoiding emissions through protected landscapes to limit deforestation or restoring ecosystems for carbon removal from the atmosphere.
