We aim to use nature-based solutions (NbS) to deliver value and contribute to our people and planet aims in our operations and through our business activities. We will also support the development of scalable markets for certified natural climate solutions (NCS) that help the world reduce deforestation, get to net zero and deliver environmental and social benefits.
We have set two objectives for this aim: to use NbS to deliver value and contribute to our people and planet aims; to enable emissions reductions through investments in certified Natural Climate Solutions (NCS). We are working towards delivery of a NbS action plan by the end of 2022.
Nature-based solutions (NbS) are actions to protect, sustainably manage and restore natural or modified ecosystems that address societal challenges effectively and adaptively, simultaneously providing human wellbeing and biodiversity benefits.
Natural climate solutions (NCS) are a subset of nature-based solutions that focus on actions to reduce or remove greenhouse gas emissions through nature conservation, restoration and improved land management.
We aim to support efforts to scale up high-quality NCS which can deliver both environmental and social benefits. We recognize that focused collaboration is required by market participants to enable NCS to achieve their potential to contribute to the Paris goals.
External engagement can support the scaling up of high-quality NCS in carbon markets. We have participated and contributed to:
We also participate in a number of NCS related trade associations: