For two weeks, the world's attention was focused on Glasgow, Scotland, which hosted the 26th UN Climate Change Conference, or COP26. The summit brought important signals from countries regarding greater ambition in commitments to avoid an increase in global temperature above 1.5ºC in relation to the pre-industrial era, the objective of the Paris Agreement. And, for the first time since the COPs were held, the climate and biodiversity axes joined hands in important agreements.
One of the most notable in this direction was the Declaration of Forests, signed by more than 100 countries, which places biodiversity as a central element in the climate solution: keeping the forest standing is the best way to neutralize emissions. In the pact, which covers around 85% of the world's forests, countries such as Brazil, Russia, China and the United States promised to end deforestation by 2030. It was one of the first major agreements to emerge from COP26 and aims to mobilize a significant amount of resources: governments committed US$12 billion and private companies an additional US$7 billion to protect and restore forests, including US$1.7 billion for indigenous peoples. More than 30 financial institutions have also promised to stop investing in companies responsible for deforestation.
According to the United Nations, more than 1.6 billion people in the world depend on forests to survive, with indigenous peoples being the guardians of at least 36% of forests that are still intact – not by chance, this COP26 was a record-breaking event for participation of native peoples, who spoke fervently in plenary sessions and participated in relevant meetings.
As the most biodiverse country in the world, Brazil has a huge window of opportunity with the agreement, but to achieve this we need to act energetically to combat deforestation in our biomes, especially the Amazon, which is our elephant in the room. It accounts for 44% of Brazilian greenhouse gas emissions, with 90% of this total coming from illegal activities. Therefore, its end represents many gains for the country and Brazilian businesses.
The Amazon rainforest accommodates more than half of the planet's biodiversity. It occupies 60% of Brazilian territory; It contains 30 million animal species and 29 million people, 72% of which live in cities. Standing tall, it fulfills its primary role of feeding rain in other regions of the country, through the so-called flying rivers, allowing our agriculture to be so strong and cities like São Paulo and Rio de Janeiro to continue generating jobs and income. The Amazon is essential for the Brazilian economy and the halt in deforestation represents many gains for the country and business, especially when looking at the horizons of the bioeconomy based on forestry assets – which can generate employment and income in segments such as pharmaceuticals, cosmetics, food and ecosystem services, among others.
At this COP26, another widely discussed topic was the potential of Nature-Based Solutions (NBS) as complementary to greenhouse gas reduction strategies. The concept, coined by the International Union for Conservation of Nature (IUCN), includes approaches for the restoration and conservation of ecosystems, natural infrastructure and climate adaptation, in an integrated manner with ecosystems.
Here too, Brazil's potential to boost the economy is gigantic: a CEBDS study points out that, if these instruments are made viable, they could generate up to US $17 billion by 2030, as the country alone represents 20% of the untapped global potential in SBN combined with technologies to reduce greenhouse gas emissions. Around 63% of Brazil's potential comes from conservation, 21% from reforestation, 14% from agriculture, 1% from the management of natural forests and 1% from the conservation of wetlands. COP26 will bring momentum and financing prospects to these solutions, but they need to be implemented quickly throughout this decade.
CEBDS believes that these opportunities align with the goals and metrics of the Post 2020 Global Biodiversity Framework, which we also monitor. The Brazilian business sector defends the end of illegal deforestation as a fundamental step towards combating climate change and achieving the Brazilian goal post-COP26. Our companies know how to produce and conserve at the same time, and now is the time to promote, more than ever, lines of financing for projects that keep the forest standing and that prioritize sustainable agriculture, forest conservation and restoration and support for local communities. Conserving and regenerating our biodiversity will lead us to make a significant contribution to combating the climate emergency, in addition to generating sustainable prosperity and social inclusion.
By Marina Grossi
Article originally published in Estadão
