A call to invest in nature

(Second of two parts)

There are a number of ways by which we can show our “investments.”

First, let us invest in behavior and lifestyle modification. Global food waste, for example, is responsible for 6-8 percent of greenhouse gas emissions. This, in addition to making more food available for those who are in need, is a tradeoff we make if we are not prudent in our consumption.

Everyday decisions, such as minimizing the use of plastics, can mean a lot in turning the tide in our campaign against marine litter. Reducing the volume of our wardrobe and the frequency we buy new clothes is another way we can make a difference. The fashion industry alone is responsible for 2.1 billion metric tons of GHG emissions in 2018 or 4 percent of the global total. This is equivalent to the same quantity of emissions of the entire economies of France, Germany and the UK combined!

Second, let us invest in risk-informed planning and development. Decisions on location of settlements, industries, city centers; and the way we plan spatial development in cities, greening our infrastructure can mean a lot in preventing lives and saving costs through efficiency gains. Mapping of hazards and exposure of population and assets, and providing alternatives and development controls, zoning regulations can save the government billions of dollars of losses and damages from powerful typhoons and earthquakes.

Third, let us ensure financing is geared towards sustainability. This means ensuring that capital is channeled towards investments that either do no harm or result in positive impacts on environment. There are available tools to guide decision making on this, and metrics to guide us in measuring results. This entails the active application of environment, social and governance (ESG) principles; aligning with the Sustainable Finance Roadmap and ensuring each project is evaluated against social and environmental impacts. There are big wins in doing this – the Better Business Better World Report of UNDP has estimated that around $82 trillion in investment opportunity and 4.4 million new jobs will be created if directed towards those in support of SDG positive investments.

Lastly, all of these will not happen without an environmentally aware citizenry and supportive leadership. At this crucial time, we enjoin all Filipinos to make their voices heard and advocate for environmental sustainability and sustainability financing as priority agenda for the country’s path for development. The clock is ticking, and every second of inaction may cause us generations lost.

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Dr. Selva Ramachandran is UNDP Philippines Resident Representative.