CLA News / Borneo Rainforest Law Conference session report: Nature based solutions -– market and non-market mechanisms

Chaired by David Denniston, our experts shared nature-based solutions to climate change using economic and financial tools.

Henry Cornwell delved into the concept of ecosystem services, being the dividends of careful management of natural capital and resources. The tools for protecting natural capital are both regulatory and market-based in order to “value, conserve and restore”.

Will Baldwin-Cantello’s video contribution canvassed nature-based solutions and finance, role of the carbon market and lessons learnt.

Tzan Chiu Wan spoke about the Rimba Collective, a unique financing mechanism that embeds conservation and restoration financing into supply chains. Their forest conservation projects are financed by corporate palm oil users as part of their ESG responsibilities to “offset” the impact on forests of palm oil cultivation.

The session was rounded out with Win Sim Tan’s overview of Verra’s initiatives that support the financing of nature-based solutions. This includes its verified carbon standard for carbon credits and its climate, community and biodiversity standard used to certify projects’ impacts.

Fiona Ey

CLA Council member, Samoa