The risk of a great climate land grab?
As the business and financial world becomes increasingly aware of the power of Nature-Based Solutions to deliver carbon benefits and achieve net zero goals, there is the risk, as George Monbiot noted last month in The Guardian, of a 'great climate land grab' as corporations and financial investors buy large swathes of land to offset carbon.
The legitimate (carbon related) role of Nature-Based Solutions should be to remove historic carbon from the air, and counteract unavoidable emissions as we decarbonise the rest of the economy. However in some cases they are being used to justify ‘business as usual’ and not aggressively reduce carbon emissions towards net zero and beyond. In addition, as some corporations and financiers buy up land, land prices are rising, and local people and communities interested in running their own rewilding or restoration projects may be shut out. George Monbiot points to Shell's £5m to extend the Glengarry Forest in Scotland, noting “while Scotland needs more trees, it also needs a much better distribution of land”.
So does this mean businesses shouldn't buy land or engage Nature-Based Solutions? Not necessarily. The reality is that to tackle the yawning gap in financeneeded to restore nature (estimated by the GFI as a minimum of £44bn-97bn in the UK for 2022-30, above current public sector commitments), we need private sector capital and engagement. However, this needs to be done in ways that benefits climate, biodiversity and people in a fair and equitable way, alongside effective regulation.
This is one of the reasons we launched The Greenhouse - to work with business leaders and brands to create Nature Positive Solutions, that deliver powerful business results (which go beyond carbon), and deliver climate, biodiversity and social benefits. This is as much about new forms of business leadership and purpose as it is about the mechanics of designing and implementing effective Nature-Based Solutions. If you're interested in discussing this as a business or leader, reach out for a chat!
For more about The Greenhouse, please visit www.wonderoom.co/thegreenhouse