Source: Small Island Developing States
19 September 2019: The Nature Conservancy (TNC) and Amazon have launched the ‘Right Now Climate Fund,’ committing USD 100 million to restore and protect the world’s forests, wetlands and peatlands. The Fund will help remove millions of metric tons of carbon dioxide (CO2) from the atmosphere over the lifetime of the project, and create economic opportunity for thousands of people.
The two organizations are currently in an exploratory phase to assess carbon reduction programmes and to identify, design and implement natural climate solutions, which will be supported by the Right Now Climate Fund. The fund is part of Amazon’s efforts to achieve net zero carbon emissions across its business by 2040 – ten years ahead of the 2050 target set in the Paris Agreement on climate change.
The business community has a crucial role to play in shaping a sustainable future for people and our planet.
According to a TNC press release, the private sector has a responsibility to decarbonize through innovations in clean energy, and has the power to accelerate the implementation of natural climate solutions.
“The business community has a crucial role to play in shaping a sustainable future for people and our planet,” said Sally Jewell, interim CEO, TNC. Citing the science on healthy forests, grasslands and wetlands being some of the most effective tools to address climate change, she noted that “we must act now to take natural climate solutions to scale.”
The announcement came ahead of the UN Secretary-General’s Climate Action Summit on 23 September. [The Nature Conservancy Press Release] [Amazon Press Release] [SDG Knowledge Hub Story on Climate Action Summit]