Poverty Environment Partnership advocates strengthening investments in natural capital
Participants in the Poverty Environment Partnership Meeting, Tarrytown, New York, 19-22 June 2017
The Sustainable Development Goals and Paris Climate Agreement have brought into sharp focus poverty reduction and climate change. Central to addressing both poverty elimination and climate change, yet receiving much less attention, is the role of natural capital. Investing in sustainable management and conservation of terrestrial and marine ecosystems is the key to the transition to an inclusive green and blue economy.
Natural capital accounting and the “data revolution” have a major role to play in attainment of the Sustainable Development Goals Life on land (SDG 15) and Life in the water (SDG 14).
The Poverty Environment Partnership, a global network of institutions established in 2002, met on the theme Investing in Natural Capital for an Inclusive Green and Blue Economy to implement the SDGs and Paris Climate Agreement, in Tarrytown, New York, from 19 to 22 June 2017. The Partnership's 22nd meeting was attended by 62 participants representing 41 organizations from 12 countries. The Poverty-Environment Initiative was represented by co-directors Anne Jueper and Isabell Kempf, and Alex Forbes, Programme Officer, Poverty-Environment Facility and Poverty-Environment Initiative Africa.
The meeting addressed three dimensions of investing in natural capital: strengthening mainstreaming and institutions for natural capital; supporting and scaling local ecosystem-based solutions; and learning how to finance natural capital investment.
The participants highlighted the need for systematic assessments methods for measuring investment quality and accountability on environment, social and financial returns from public and private investments. While public and private actors increasingly understand the importance of natural capital in their operations and value chains, more needs to be done to address the limitations of the current financial system that contribute to the degradation of natural capital and inequality. They called for policy and regulatory reforms to support local action through promoting local green enterprises, as well as financing through environmental finance options.
The Poverty Environment Partnership established a Working Group on Mainstreaming and Institutions, whose task is to further develop the International Institute for Environment and Development-led institutional diagnostics tool and contribute to the elaboration of the Poverty-Environment Initiative’s Compendium on Poverty-Environment Mainstreaming Tools, Experiences and Results.
The 23rd meeting of the Poverty Environment Partnership will be held in Nairobi. The meeting will be hosted by the Poverty-Environment Initiative in May/June 2018.
See further information on the 22nd meeting of the Poverty Environment Partnership.
and the Poverty Environment Partnership's "triple vision" of zero extreme poverty, zero net climate emissions, and zero net loss of natural assets: Getting to Zero: A Poverty, Environment and Climate Call to Action for the Sustainable Development Goals (International Institute for Environment and Development, London: June 2015).