Understanding the economic recovery potential of investing in biodiversity in the Global South
Lead Research Organisation:
University of Oxford
Department Name: Biology
Abstract
The overall goal of this project is to enhance understanding of the short versus long-term economic recovery potential (ERP) of investments in biodiversity and have this knowledge inform economic, climate, and development policy in the Global South, where impacts of COVID and climate change are most severe but where the potential for biodiversity to support economic recovery is greatest.
The proposed research will investigate how social, economic, and ecological knowledge can be integrated to manage ecosystems so that they are healthy and resilient in a rapidly warming world. To do this, it will bring together evidence of the short-term ERP and longer-term development outcomes of investing in biodiversity-based nature-based solutions (NbS, i.e. the protection, restoration, and sustainable management of natural and semi-natural ecosystems). Short-term ERP will include factors such as numbers of jobs created and retained, livelihoods, and economic multipliers (where changes in one economic variable cause a change in other related variables). Longer-term development outcomes include climate change adaptation, biodiversity conservation, and food and water security.
A wide range of stakeholders involved in the design of economic recovery and development policy in or for the Global South have identified five broad questions about the economic returns of investments in NbS (provided in the case for support). These include: What do robust, sustainable investments in biodiversity look like? How can trade-offs among different societal benefits be managed? How can we ensure that those investing in biodiversity, whether to secure their supply chains or offset damage to the environment, have ambitious and credible pathways to sustainability and are not simply greenwashing business as usual? To address these and other key questions, we will synthesise evidence from an existing systematic map of the peer-reviewed and grey literature on the development outcomes of over 500 investments in nature.
The ultimate intended impact of this project is to ensure that public and private finance is channeled towards projects that have robust biodiversity and social safeguards and that can, as a result, deliver benefits to local people, the climate and natural ecosystems over the long term.
The proposed research will investigate how social, economic, and ecological knowledge can be integrated to manage ecosystems so that they are healthy and resilient in a rapidly warming world. To do this, it will bring together evidence of the short-term ERP and longer-term development outcomes of investing in biodiversity-based nature-based solutions (NbS, i.e. the protection, restoration, and sustainable management of natural and semi-natural ecosystems). Short-term ERP will include factors such as numbers of jobs created and retained, livelihoods, and economic multipliers (where changes in one economic variable cause a change in other related variables). Longer-term development outcomes include climate change adaptation, biodiversity conservation, and food and water security.
A wide range of stakeholders involved in the design of economic recovery and development policy in or for the Global South have identified five broad questions about the economic returns of investments in NbS (provided in the case for support). These include: What do robust, sustainable investments in biodiversity look like? How can trade-offs among different societal benefits be managed? How can we ensure that those investing in biodiversity, whether to secure their supply chains or offset damage to the environment, have ambitious and credible pathways to sustainability and are not simply greenwashing business as usual? To address these and other key questions, we will synthesise evidence from an existing systematic map of the peer-reviewed and grey literature on the development outcomes of over 500 investments in nature.
The ultimate intended impact of this project is to ensure that public and private finance is channeled towards projects that have robust biodiversity and social safeguards and that can, as a result, deliver benefits to local people, the climate and natural ecosystems over the long term.
Organisations
People |
ORCID iD |
| Nathalie Seddon (Principal Investigator) |
Publications
Seddon N
(2022)
Harnessing the potential of nature-based solutions for mitigating and adapting to climate change.
in Science (New York, N.Y.)
Turner B
(2022)
The Role of Nature-Based Solutions in Supporting Social-Ecological Resilience for Climate Change Adaptation
in Annual Review of Environment and Resources
Woroniecki S
(2022)
Contributions of nature-based solutions to reducing people's vulnerabilities to climate change across the rural Global South
in Climate and Development
| Description | Through this research we have provided evidence on the critical role of investing in the protection and restoration of natural ecosystems in the global south, and working with nature and its biodiversity in general, for supporting the economy in various ways: generating income, supporting livelihoods and avoiding economic losses. This evidence has been used to create policy briefs and formed the basis of workshops and webinars with policy makers in Peru and Bangladesh, despite political upheavals in the former country, and has raised nature up the agenda in a range of ministries. Delivery of this impact is still ongoing within both countries, but recognition of the economic importance of nature-based solutions by senior negotiators in Peru and Bangladesh, was helpful in securing the term's inclusion in the UNFCCC decision text, the Sharm El Sheik Implementation plan. |
| Exploitation Route | Many countries will benefit from the evidence we are generating and consolidating on how investment in nature recovery and protection can support economic recovery locally, nationally and globally. Will update this time next year with the finer details of this process. |
| Sectors | Agriculture Food and Drink Environment Government Democracy and Justice |
| Description | Please see summary provided in section on key findings. Will update in 12 month's time when impacts will have had more time to manifest. |
| First Year Of Impact | 2023 |
| Sector | Environment,Government, Democracy and Justice |
| Impact Types | Societal Economic |
| Description | Elected member of the Uk Climate Change Committee - sitting on the Adaptation Committee |
| Geographic Reach | National |
| Policy Influence Type | Participation in a guidance/advisory committee |
| Impact | Inputs into the CCC's reports of progress government is or is not making in meeting its climate change goals; influence over the NAP3 |
| Description | Consultation Workshop on the "Economic Recovery Potential (ERP) of Nature-based Solutions (NbS)" |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Consultation Workshop on the "Economic Recovery Potential (ERP) of Nature-based Solutions (NbS)" on 21 March 2022: The purpose of the consultation workshop with the 'NbS Bangladesh Network' members was to discuss the gathered evidence from three case studies, and the process of gathering those data and the overall challenges and opportunities. In the open discussion, the participants shared their feedback on the overall methodology of the project, selected case studies, overcoming the challenges we have faced and how to work together to highlight some opportunities for policy influence. |
| Year(s) Of Engagement Activity | 2022 |
| Description | Executive Education: Foundation Course on Nature-based Solutions to Global Challenges |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | I created and ran this course, contributing two days (themes 1 and 2), and convening all the others. The course is an introduction to NbS for professionals working in a range of sectors. For example, staff at NGOs from the development and environmental sectors wanting to better understand the evidence from research and practice on how NbS can deliver multiple benefits and for whom, to enable them to hold governments to account; business executives wanting to better understand the risks and also the opportunities of investing in NbS; civil servants, regulators, and investors working to develop policies that can enable economic recovery whilst supporting net-zero and biodiversity goals; and philanthropists wanting to support activities that have positive outcomes for both people and nature. 29 people attended course run 1 in September 2022, 60 on course run 2 in January 2023; participants came from all over the world, and approximately 40:60 public:private sector. |
| Year(s) Of Engagement Activity | 2022,2023 |
| URL | https://www.naturebasedsolutionsinitiative.org/nature-based-solutions-to-global-challenges-foundatio... |
| Description | Regular talks/webinars to diverse groups from the private sector, including investors/financial institutions (e.g. Insight Investment Summit) on value of biodiversity |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | Regular follow up after giving talks - e.g. after recent Insight Investment Summit, asset managers wanting further meetings to discuss how to reduce their impacts on biodiversity within their value chains. |
| Year(s) Of Engagement Activity | 2021,2022,2023 |
| Description | Session at the Gobeshona Global Conference 2 |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Session at the Gobeshona Global Conference 2 on 29 March 2022: International Centre for Climate Change and Development (ICCCAD), Nature-based Solutions Initiative (NBSI) at the University of Oxford and Instituto de Montaña (NBSI Peru) organized a session on "How can we Build Back Better with Nature? - Understanding the Economic Recovery Potential (ERP) of Nature-based Solutions (NbS)" on 29 March 2022. This particular session on NbS in the Gobeshona aims at understanding and exploring the economic recovery potential (ERP) of Nature-based Solutions (NbS). The session brought a group of panelists with diverse backgrounds from Bangladesh and Peru where they fostered a critical discussion on what building back better should mean, and the role nature-based solutions or more broadly speaking, investments in nature, have to play. |
| Year(s) Of Engagement Activity | 2022 |
| Description | Stakeholder Engagement (LHE) on the "Economic Recovery Potential (ERP) of Nature-based Solutions (NbS)" hosted by GED, Bangladesh Planning Commission and ICCCAD |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Stakeholder Engagement (LHE) on the "Economic Recovery Potential (ERP) of Nature-based Solutions (NbS)" hosted by GED, Bangladesh Planning Commission and ICCCAD on 21 April 2022: Showcase the work progress made on NbS as well we to share a concept of linking NbS with economic recovery. This event created an opportunity to hear from the policymakers' perspectives to explore the policy influencing options regarding the NbS and economy. Dr. Md. Kawser Ahmed Member (Secretary), GED was the Chief Guest of the session. Dr. Saleemul Huq, Director, ICCCAD was the Session Chair. Dr. Haseeb Irfanullah, NbS Expert, made a presentation on the concept of NbS and the progress so far after the LHE in 2020, as well as shared findings on the ERP and NbS from the three case studies from Bangladesh. The event was attended by the government officials from Bangladesh Planning Commission as well as other relevant ministries and departments along with NGOs to have an open discussion regarding the consideration of all major aspects of NbS-Economic Recovery Potential (ERP) linkage, ways to overcome the challenges and suggestions to make the study useful for our policy making. Dr. Ahmed mentioned that "To have the better science-policy interface, another discussion should be happened as a follow-up of this session by inviting representatives from diverse sectors, such as - fisheries, agriculture, water development etc." |
| Year(s) Of Engagement Activity | 2022 |