How Nature-Based Solutions Are Empowering Climate Resilience And Environmental Friendliness

For the first time in recorded history, the global temperature briefly surpassed a key climate threshold on November 17, 2023. As climate change intensifies, we urgently need all possible solutions that align human progress, including engineering and nature-based solutions (NbS). Recently, there has been a rise in interest in exploring possible strategies that can help lessen the effects of climate change.

Nature-Based Solutions (NbS) emerge as a practical approach with immense potential to empower climate resilience while nurturing environmental sustainability. NbS enhances nature's capacity to absorb greenhouse gases, buffer climate impacts, and sustain biodiversity, translating to a harmonious coexistence between humanity and nature. Investing in NbS is a down payment on our future. According to the World Economic Forum, investing $2.8 trillion globally in nature-based solutions by 2030 could unlock $9 trillion in annual business opportunities and create 395 million jobs.

This multifaceted potential positions NbS as a catalyst for a future where humanity and nature harmoniously coexist. Unleashing NbS means empowering climate resilience and environmental friendliness.

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Nature-Based Solutions in Carbon Sequestration

Nature-based solutions leverage ecosystems' carbon-absorbing capacities, with India's rich biodiversity offering immense potential. The blue carbon potential including mangroves, tidal marshes, and seagrasses can sequester 22% of India's 3.9 billion tonnes of annual emissions. The green carbon sequestration potential reaches 7.2 billion tonnes which includes 529.47 million tonnes of carbon stock in plantations/ Trees Outside Forest, underscoring opportunities.

The potential of soil carbon sequestration in India is estimated at 39¨C49 teragrams of carbon per year through restoration and agricultural practices. A smallholder farmer can potentially sequester 1-8 tonnes of carbon dioxide per hectare per annum via regenerative agriculture in India. Agroforestry systems that are hidden gems in India can enable carbon sequestering at five times the rate of annual cropping without trees, while enabling both food production and supplementary income.

India's NbS approach is reflected in schemes like the Mahatma Gandhi National Rural Employment Scheme (MGNREGA) and the National Action Plan on Climate Change (NAPCC) missions. This includes the National Mission for a Green India enhancing carbon sinks, the mangrove restoration initiative (MISHTI), and Amrit Darohar launched by the Government of India in 2023.

Afforestation and reforestation serve as prominent NbS examples, with forests acting as carbon reservoirs. Soil, too, can serve as a natural carbon sink. India is adopting natural farming to enhance soil health and organic carbon. By harnessing its natural resources and ecosystems, India can address climate change through the intricate relationship between NbS and carbon sequestration.

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Shift to Nature-Based Solutions for climate commitment

India's carbon emissions challenge, totalling 3.9 billion metric tons in 2021, highlights the urgent need for sustainable practices, with coal combustion producing 1.8 GtCO2 and agriculture producing approximately 1 GtCO2. The country's major carbon-intensive industries, including electricity generation, mining, construction, infrastructure development, steel, textiles, cement, and chemicals, struggle with decarbonization due to economic and technical barriers.

Numerous companies, especially in sectors like agriculture, forestry, tourism, power, steel, cement, and textiles, directly depend on natural ecosystems for resources. Investing in Nature-Based Solutions (NbS) provides these industries with an opportunity to develop nature-friendly strategies and integrate NbS into their operations in response to climate change.

The need to achieve the Sustainable Development Goals (SDGs), participate in ESG reporting and disclosure, and respond to mechanisms like the Carbon Border Adjustment Mechanism (CBAM) or carbon border tax hastens corporate adoption of the Natural Climate Solutions Portfolio. This strategic shift is not only a response to regulatory pressures but is also fueled by the desire to enhance brand reputation among environmentally conscious consumers and meet their growing demand for eco-friendly products and responsible business practices.

Many fast-moving consumer goods (FMCG) companies are actively evaluating opportunities to reduce their value chain emissions through natural farming or improve their logistics practices.

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NbS offers solutions beyond carbon mitigation, aligning with multiple SDGs, benefiting communities and livelihoods while conserving water, soil, and marine health. This comprehensive approach resonates with fulfilling environmental and social duties. Investing in NbS allows companies to contribute to nature conservation while benefiting from carbon sequestration and building climate resilience. This can help corporations meet their climate goals at scale.

Challenges Faced in the Implementation of NbS

While Nature-Based Solutions hold immense potential for carbon sequestration and reduction, several challenges must be navigated to scale up these projects effectively. For NbS projects to last for a long time, they need strong monitoring and verification systems that can accurately measure and certify carbon sequestration and environmental benefits. Balancing the ecological goals of NbS with economic and social considerations is another challenge, as projects must not only deliver climate benefits but also uphold the well-being of local communities and ecosystems. Additionally, securing funding, garnering stakeholder support, and managing the complexities of diverse ecosystems across various geographical regions can pose logistical challenges. Addressing these hurdles is pivotal for maximizing the impact of NbS initiatives in the context of the overall climate crisis.

Collaboration and Partnerships: A Key to Success

To overcome the challenges mentioned earlier, collaboration lies at the heart of successful Natural-Based Solutions (NbS) initiatives, bringing together governments, private sectors, non-governmental organizations (NGOs), and local communities in a unified effort to address environmental challenges.

Showcasing successful partnerships

The success of collaboration becomes evident in the remarkable outcomes of partnerships that have birthed transformative change in the ecosystem. CoreCarbonX runs projects that encompass a range of initiatives spanning various sectors:

Mangrove Restoration: Through a collaborative effort involving government agencies, mangrove restoration projects have been launched along coastlines. These projects not only sequester carbon but also protect coastal areas from erosion, provide habitat for marine life, and support local livelihoods. CCX has worked on mangrove restoration in Ennore Creek in Tamil Nadu.

Agroforestry Initiatives: Partnerships between agricultural corporations, conservation organizations, and farming communities have led to the adoption of agroforestry practices. Core CarbonX has worked on developing sustainable agroforestry projects in Andhra Pradesh, Jharkhand, Telangana, Odisha, West Bengal, and other locations. Integrating trees into agricultural landscapes improves soil health, enhances biodiversity, and mitigates carbon emissions, thereby promoting sustainable land use.

Sustainable Rice Production: Collaborations between agricultural research institutions, farmers' cooperatives, and sustainable finance entities have facilitated the transition to sustainable rice cultivation in Telangana, Andhra Pradesh, Odisha, Karnataka, Tamil Nadu, and West Bengal. CCX has developed these projects that employ water-efficient cultivation practices, resulting in reduced methane emissions and lower energy consumption, thus yielding both economic and environmental benefits.

Natural Framing: By partnering with local farmers and NGOs, initiatives have been established in Andhra Pradesh and Odisha to improve soil fertility and environmental health by reducing greenhouse gas emissions and also promise the enhancement of farmer's income. These efforts not only sequester carbon but also preserve cultural heritage and restore healthy habits.

These examples illustrate how collaboration results in multi-dimensional successes while uniting diverse stakeholders in a concerted effort towards sustainable change. The showcased partnerships and their remarkable achievements underscore the potential of collective action in realizing impactful and enduring NbS initiatives.

Conclusion

Nature-based solutions (NbS) for climate change can be a cost-effective strategy to boost resilience while providing various advantages (or co-benefits) to both nature and society. It offers a promising path for nations, industries, and corporations to reduce their climate impacts and contribute to climate change mitigation and adaptation. Corporations are increasingly embracing commitments to mitigate climate change, with some directing resources to nature-based solutions (NbS) projects, signaling a shift toward addressing ecological issues. Adoption of the Task Force on Nature-Related Financial Disclosures framework demonstrates companies are taking environmental accountability more seriously by assessing and disclosing dependencies and impacts on nature. In India, restoring ecosystems, adopting natural farming, and agroforestry provide opportunities for corporations to reduce carbon footprints and bring carbon benefits to involved parties. By investing in NbS, stakeholders can offset emissions, contribute to conservation, and promote more climate-resilient and sustainable business practices. Overall, NBS enables corporations to align operations with robust climate and conservation goals.

About the Authors: Niroj Mohanty is the Managing Director and CEO, CoreCarbonX Sols and Kavita Sahany is the Lead - Strategic Communications and Government Relations of CoreCarbonX. All views/opinions expressed in the article are of the authors.