Investing in the Nexus of Climate and Biodiversity at the Urban Scale

The UNFCCC, the CBD and the UNCCD have all achieved considerable success in mainstreaming urban issues into their respective COPs. At COP27, the first-ever COP Ministerial Meeting on Urbanization and Climate Change was convened. Furthermore, CBD COP15 adopted the landmark Global Biodiversity Framework, which includes Target 12; the first global target on conserving and planning green and blue spaces in urban areas, and endorsed the Plan of Action on Subnational Governments, Cities and Other Local Authorities for Biodiversity. Additionally, during COP14, a key theme was how land degradation impacts urban areas, as well as promoting sustainable land use practices in cities, and exploring how urban planning can contribute to combating desertification and achieving sustainable development goals.

While the Secretariats of the 3 Rio Conventions have made efforts to connect climate, land and biodiversity at the urban level, overall funding is still insufficient. According to the State of Finance for Nature report, 2023, the total annual finance flows to NbS in 2022 were roughly US$200 billion, with urban NbS receiving just 0.3% of overall spending. Meanwhile, average annual climate finance flows reached almost USD 1.3 trillion in 2021/2022, reflecting only 1% of the global GDP. Furthermore, the 2nd edition of the Global Land Outlook report by the United Nations Convention to Combat Desertification (UNCCD) suggests that less than 15% of land restoration funding goes to urban areas, despite the growing need due to rapid urbanization.

Considering the synergistic relationship between climate, land and biodiversity in cities, there is a need to link the three agendas at the local level and scale up financing to implement urban NbS, land restoration and climate action. This underscores the importance of engaging with the Coalition for High Ambition Multilevel Partnerships (CHAMP) in order to enhance cooperation with subnational governments in the planning, financing, implementation, and monitoring of climate, land and biodiversity strategies. Moreover, this means aligning countries’ Nationally Determined Contributions (NDCs), National Adaptation Plans (NAPs), National Biodiversity Strategies and Action Plans (NBSAPs), and Locally Determined Contributions (LDCs), with a view to localize implementation and maximise impact.

This side event is an attempt to initiate the global conversation on how to position urban action as a key point of synergy for the three Rio Conventions (on biodiversity, climate change, and land degradation neutrality), going beyond the usual discussions about alternative funding for cities. The event aims to highlight the role of urban areas in advancing the goals of the three conventions and initiate discussions on how urban funding can contribute towards achieving the conventions' objectives. Additionally, the event seeks to advocate for prioritizing investments in urban action, emphasizing that such investments offer greater efficiency and impact in the implementation of the Rio Conventions, especially in light of limited new funding.