The Canadian government has released a 2030 Nature Strategy for reversing biodiversity loss, in line with the goals of the COP15 final agreement, proposing ramping up natural capital accounting.
The nature strategy set out areas of action for a “whole-of-society” approach towards a “nature positive” country, while considering a resource mobilisation plan.
“We are taking a major step forward by launching our national strategy and the legislation that will hold the government accountable to make progress on these ambitious nature protection goals,” said Steven Guilbeault, minister of environment and climate change.
“Generational fairness must be rooted in protecting and restoring our natural world for all it does to support our economy and our wellbeing.”
Canada also proposed legislation to hold the government accountable on its commitments until 2050.
Dealing with the continued biodiversity loss in Canada requires addressing the challenges that have held it back, rethinking systems that led to the nature crisis, and finding new ways of financing its efforts, the government said.
The strategy set out six pillars:
- Implementing the rights of Indigenous Peoples
- Ensuring a whole-of-government, whole-of-society approach
- Supporting a resilient economy
- Adopting flexible community-based approaches
- Using the best available science, giving equal weight to Western and Indigenous knowledge
- Ensuring actions are inclusive and transparent
“However, federal actions alone will not be enough. Provincial and territorial leadership and ambition will be essential, complemented by actions by all other segments of society,” the plan said.
FINANCING
The document addressed all 23 targets of the Kunming-Montreal Global Biodiversity Framework (GBF) from COP15, matching their ambition, it said.
In its response to Target 19 of the GBF, on mobilising at least $200 billion worldwide annually from all sources towards biodiversity, the government did not announce any new funding.
However, it said it will “continue to identify how it can better use its funding instruments and convening power to attract private sector resources for a whole-of-society effort to protect, conserve, and restore nature at the domestic and international levels”.
The government “may” also:
- Support development of natural capital accounting
- Develop a national resource mobilisation plan exploring models of nature-related public-private partnerships, blended finance, impact funds, green bonds, and other fiscal incentives
- Create a public listing of companies’ nature-positive activities
Last December, Canada partnered with the US and Australia on an initiative that aims to help decision makers account for the values of nature through natural capital accounting.
“Amplifying and integrating biodiversity values and considerations into decision making in an inclusive, transparent way will be key, such as through the creation of markets and advances in natural capital accounting,” Canada said in its 2030 plan.
The strategy flagged existing nature-related initiatives amounting to approximately C$12.5 bln over an unspecified time frame, across investments such as an Enhanced Nature Legacy Fund, a Natural Climate Solutions Fund, and marine conservation.
This month, Canada said it would extend its Conservation Exchange Pilot programme, which allows companies to earn government-issued certificates for conservation achievements.
ACCOUNTABILITY BILL
Canada proposed an accountability bill in parliament, to enshrine the commitments of the 2030 nature strategy in legislation.
The act will require the government to report on the implementation of the bill, with checkpoints, aiming to improving transparency.
“The bill would provide concrete steps to 2050 to advance implementation of those commitments, including requirements to develop national biodiversity strategies and action plans – like the 2030 Nature Strategy – and to report on their implementation,” it said.
Future environment ministers will be required to consider certain items when preparing reports, such as Indigenous knowledge, under the proposed bill.
By Thomas Cox – t.cox@carbon-pulse.com
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