A big milestone was achieved earlier this week, with 190+ countries signing the Kunming-Montreal Framework at COP15. The agreement establishes a 30x30 goal - protecting and regenerating at least 30% of degraded ecosystems by 2030. This sets the stage for major investment into high-biodiversity areas worldwide, from mangroves and savannahs to rainforests and reefs. As it stands, just 17% and 10% of the world’s land and marine areas are protected respectively.
The deal also includes goals like reducing food waste, supporting regenerative agriculture, removing environmentally-harmful government subsidies, and requiring corporations to disclose biodiversity impact. And crucially, these actions are to be implemented while respecting the rights of the indigenous peoples and local communities upon whom environmental sustainability depends.
Aspiration's funded reforestation site in partnership with Eden Reforestation Project, Chilhale, Mozambique. Ceriops seedlings grow at the Chilhale reforestation site off the coast of Maputo, Mozambique
In the fight against climate change, the vast majority of green economy capital is targeted towards categories like clean energy, which receives 10x more investment globally than biodiversity-centric initiatives. The 30x30 deal will ensure that nature gains a prominent place in the design of climate action and sustainability plans.
At Aspiration, we have recognized the importance of preserving and restoring nature - in fact, it’s so important to us that we built our business around it by financing nature-based carbon removal programs and embedding climate action into everyday transactions. For years (way before it was even cool), we have been investing in natural climate solutions like reforestation, tropical forest conservation, agroforestry, and regenerative agriculture. In addition to investing in these tried and true programs, as part of our 1% For The Planet commitment, we aim to provide catalytic grant funding to emerging nature based carbon removal approaches that restore nature and we’re even piloting new methods of biodiversity impact monitoring.
As a global community, we must collectively take actions both big and small to achieve a more sustainable future for people and planet, and Aspiration is proud to lead the way, making meaningful investments to deliver real world restoration at scale.
Sources:
https://www.cbd.int/article/cop15-cbd-press-release-final-19dec2022
https://www.paulsoninstitute.org/conservation/financing-nature-report/
https://www.weforum.org/agenda/2022/07/global-renewable-energy-investment-iea/
Destin Whitehurst is a Director of Origination Carbon Programs at Aspiration. He works with partners worldwide to design and fund nature-based projects that drive impact for climate, environment, and communities. He has led various biodiversity-centric initiatives for national governments to establish sustainable economic policies and financing for Protected Areas. Prior to this, he spent nearly a decade advising Fortune 500 corporations with Deloitte Consulting. He graduated from the University of Notre Dame with a BA in Finance and earned his MBA from the University of Texas.