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UNGA: Nature Finance Forum

Statement by Minister of Climate and Environment Sveinung Rotevatn at the Nature Finance Forum online event for the UN Biodiversity Summit, 28 September 2020.

Our safety net is stretched almost to a breaking point. Biodiversity loss constitutes a direct threat to human well-being in all regions of the world.

Global warming is on the rise as one of the main causes of biodiversity loss. Biodiversity loss also makes global warming go faster.

It's time to turn the tide.

We need increased ambitions on emission reductions and biodiversity recovery. Stepping up ambitions also means stepping up contributions and efforts.

We need a transition into a sustainable economy based on green supply chains. We have to be innovative in our thinking. We have to mobilize resources from all sources.

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The High-Level Panel for a Sustainable Ocean Economy are currently working on a transition agenda. Now, more than ever, we need a healthy ocean to provide key ecosystem services and benefits that are crucial for a sustainable future. We cannot let this opportunity escape us.

One of the most acute challenges of the biodiversity agenda is to protect and restore tropical forests. On a relatively limited area, they host more than a third of the world's plants, animals and insects.

We now have a historic opportunity to halt and reverse tropical deforestation. Several forest countries are moving strongly to slash their deforestation rates.

A strong coalition of private companies are signaling willingness to pay for those results.

Standards to ensure that emissions reductions are real, additional and lasting now exist. Institutions to help markets function smoothly have been established.

Financing tropical forests is among the best investments humanity can make.

By the Biodiversity COP in Kunming and the Climate COP in Glasgow next fall: Let us put in place coalition to end tropical deforestation once and for all.  

This will take political will, billions of dollars in annual finance, and objective standards of performance.

It will definitely be worth the effort.