The Role of Credible Global Standards for Successful Nature-based Solutions Scaling

Using the power of nature is key to meet the global climate targets and contribute to the broader SDGs. Private sector interest in contributing as part of their individual responsibility through “nature based solutions” (NbS) is currently on the rise, especially in the voluntary Carbon Markets. NbS offer the opportunity to establish multiple-benefit strategies that, in addition to protecting earth climate, also address biodiversity and human well-being.

While there is broad consensus on the roles and potentials of NbS, implementation on the ground is lagging behind – similar to the vaccination efforts against COVID19. A major challenge for scaling up in order to have meaningful impacts – particularly under the voluntary Carbon Markets – is certifying these projects. Existing standards face the challenge of setting the bar high to protect their integrity; however, for investors the process of certification is complex, lengthy and partly non-transparent.

The aim of this panel is to discuss how credibility in certified NbS projects can be ensured and at the same time enable rapid upscaling – without compromising on the quality, including social and environmental aspects.