Land-use, Ocean & Coastal Zones Day
Driving the day: Governments and markets are coalescing at unprecedented scale to realise the transformational potential of nature as a driver of climate momentum and resilience.
- USD 2.5 billion nature finance propelled towards USD 200 billion target: A pivotal event is expected to extend USD 2.5 billion of nature finance (secured at COP28), into a giant stride towards the biodiversity funding target of USD 200 billion per year by 2030. At the High-Level event, governments, Indigenous Peoples, communities, civil society, and the private sector will channel the USD 2.5 billion to drive progress against the Kunming-Montreal Global Biodiversity Framework (KMGBF), including the 30x30 nature protection target. The upsurge in nature finance not only starts a self-reinforcing cycle on adaptation and resilience, but also helps to unlock the potential for nature to provide a third of the needed mitigation solutions by 2030. The meeting will also discuss how to scale nature funding towards the USD 200 billion per year biodiversity funding target by 2030, and at least USD 20 billion per year in international biodiversity finance by 2025.
- The ambition loop is turning for mangrove protection: Ministers and non-State actors assemble today to protect and restore 15 million hectares of mangroves by 2030, through USD 4bn of sustainable finance. 49 governments (representing around 60% of the world’s mangroves) and over 50 non-state actors are supporting the Mangrove Breakthrough targets to restore and protect 15 million hectares of mangroves, and to halt mangrove destruction by 2030. Political momentum has never been higher to realize mangroves’ massive potential as a carbon sink (mangroves can sequester 4x as much atmospheric carbon as rainforests), protect coastlines, provide habitats, and support local livelihoods. Germany, Norway and the UK will announce funding today, to address the drastic underfunding of mangrove protection - and to deliver on its game-changing potential.
- Non-State actors signal demand for ‘Sustainable Ocean Plans: Major economic players today present a call for Sustainable Ocean Plans to catalyse markets, while underpinning the achievement of the Ocean Breakthroughs and the Sharm El Sheikh Adaptation Agenda. The Climate Champions team, working with the UN Global Compact, World Economic Forum and the High Level Panel for a Sustainable Ocean Economy secretariat, shaped the Declaration, which has been signed by 40 companies, including Ørsted, Iberostar Group and Thai Union. Sustainable Ocean Plans are a powerful mechanism for governments to realize the ocean’s potential for mitigating and adapting to climate change, while promoting biodiversity conservation and sustainable economic development.
- Five countries release land restoration roadmap: Environment ministers from five countries, along with global non-State actors, will unveil a roadmap to accelerate land restoration and climate action, underscoring a potent collaborative effort to restore one billion hectares worldwide by COP30, 2025. Partner organizations, including G20 Global Land Initiative, UN Decade of Ecosystem Restoration, will announce new commitments and share best practices in land restoration and conservation at the event.
- Shipping framework catalyses climate & nature positive action: A new cross-cutting framework launches today to support the maritime sector to assess, manage and track marine biodiversity impacts. The Sustainable Shipping Initiative and Equal Routes, supported by the UN Climate Change High-Level Champions and the UN Foundation will launch the framework, catalysing action on marine biodiversity measures - from addressing noise pollution, to invasive species and marine life collisions. A Q&A with Andrew Dumbrille & Elissama Menezes from Equal Routes, can be found here, linking to the new report.
- “Later is too late” - Call for a 1.5C-aligned response to the Global Stocktake: 800+ signatories from across business, finance, philanthropy, politics, academia and civil society have called for all Parties to deliver a 1.5C aligned outcome in response to the Global Stocktake. The statement highlights that ‘’... the signals of transformation and opportunity across sectors and society are all around us. At the same time, the climate emergency is biting harder than ever.”
About the High-Level Champions
Created under the Paris Agreement, the UN Climate Change High-Level Champions have a mandate to connect the work of national governments with voluntary and collaborative action taken by cities, regions, businesses, investors and civil society worldwide. Through the Race to Zero and Race to Resilience campaigns, the Champions are mobilizing robust, science-based commitments and actions to reduce emissions, build resilience and end nature loss in line with limiting global warming to 1.5C. For more news from COP28, visit climatechampions.unfccc.team.
