With over 70 municipal and provincial officials registered from 6 countries in the Latin American region, our webinar on February 7, 2024, explored the potential of Nature-based Solutions (NbS) as drivers of sustainable development in a context of deepening economic recession and external debt.
From NbS Hub, we want to share some of the key conclusions and reflections that emerged during the session:
- Creation of a Space/Hub for Subnational Governments: The idea of establishing a collaborative space dedicated to subnational governments was proposed, focused on sustainable territorial development through NbS.
- Cost-Efficiency of NbS in Times of Crisis: In times of economic hardship, NbS emerge as a cost-efficient alternative to address environmental and economic challenges. The economic crisis in the Latin American region can be the opportunity to unlock and accelerate the transformation towards resilient and sustainable cities and territories.
- Opening New International Markets: The potential of NbS to open new international markets was highlighted, including carbon and biodiversity as new “commodities” based on global environmental services, as well as consumer products that apply NbS and have priority given the growing non-tariff barriers imposed by importing countries.
- Initiatives for International Financing: The idea of deepening the creation of a common roadmap and presenting international financing proposals was presented, including the possibility of accessing the Global EbA Fund from the International Union for Conservation of Nature (IUCN).
- Highlights of the Presentations:
- Mateo Ledesma: Emphasized the importance of considering climate risks in territorial planning, highlighting the direct and indirect impact on the economy and infrastructure.
- Federico Salcedo: Advocated for making policies based on the “great causes” of the present, such as the environment and NbS, and highlighted the adaptability of smart city concepts.
- Agustín: Reflected on the need to explore the ecosystem potentials of each particular territory to design sustainable development financing schemes. It is essential to promote the pooling of jurisdictions for the presentation of joint project portfolios that achieve the desired impacts. Blockchain technology can facilitate this process through the greatest possible reduction of intermediaries.
- Yulia: Presented the IUCN’s Global EbA Fund as a possible source of funding for entities working on the ground.
- Patricio: Highlighted concrete examples of how subnational governments can generate financing through the strategic valorization of their natural resources. “It is the hour of paradiplomacy. We increasingly need agreements between subnational governments to achieve their autonomy and independence towards sustainable development,” concluded Patricio.
These reflections motivate us to continue exploring the opportunities offered by NbS to build a more sustainable and resilient future. We thank all participants for their contributions and look forward to continuing this dialogue in future sessions!
At NbS Hub, we generate technical teams with extensive experience in this field, which can be strategic partners for governments to connect them with available financing. Contact us to learn more!
The webinar is recorded and can be accessed through the following link.