The United Nations Development Program (UNDP) in the Philippines and the Canadian government launched a program that will translate nature-based solutions (NbS) into tangible economic activities at the community level,
The UNDP bared the NatureNest Accelerator―a flagship component of the Accelerating Green and Climate Finance in the Philippines: Nature-based Solutions (AGCF) Project. The program aims to strengthen private sector investment in gender-responsive NbS.
The NatureNest Accelerator is a six-month program that aims to catalyze the growth of 10 local Nature-based Enterprises (NbEs) to promote ecosystem protection and enable resilience at the grassroots level.
Implemented with the support of Villgro Philippines, the Accelerator will provide the NbEs with comprehensive capacity building on business operations, climate, gender equality and social impact.
It will also offer one-on-one mentoring to develop sound and sustainable business models, facilitating access to financing while deepening resilience and nature-positive impact.
“We see this initiative as a core component of the Canada-funded AGCF Project, as it helps address one of the key challenges in climate finance ― the need to bring more investments into nature-based solutions,” said John Lok, Head of Cooperation at the Embassy of Canada to the Philippines.
“It is in communities that the concept of nature-based solutions must be translated into tangible and sustainable economic activities. Providing support to stakeholders on the ground is key to ensuring that NbS delivers on its promise of inclusivity, resilience, and co-benefits,” said Dr. Selva Ramachandran, UNDP Philippines Resident Representative.
UNDP Philippines News
The launch event was attended by government and private sector partners and featured a panel discussion that tackled the barriers in implementing NbS. Existing initiatives from various community-led NbEs were also featured, including the production of indigenous and eco-friendly alternatives to plastic and mangrove reforestation efforts.
Key implementing partners of the AGCF Project, including representatives from the Department of Finance (DOF), the Department of Environment and Natural Resources (DENR) and the Bangko Sentral ng Pilipinas (BSP), reaffirmed their support in scaling NbS application across the country through NatureNest Accelerator.
“NatureNest allows us to tap into the potential of NbS as cost-effective and sustainable means to build climate-resilient communities and incentivize private sector investment,” said DOF Undersecretary Maria Luwalhati Dorotan Tiuseco.
DENR Undersecretary Analiza Rebuelta-Teh said for NbS to fully deliver its potential, stakeholders must be empowered.
“NatureNest equips them with the tools and resources to scale their impact, which complements the DENR’s efforts to translate NbS into concrete actions,” she said. UNDP Philippines News
