TASKFORCE ON NATURE MARKETS released its final report, “Making Nature Markets Work, Shaping a Global Nature Economy in the 21st Century,” on August 10. The Taskforce on Nature Markets was established in April 2022 to support the development of a new generation of purposeful nature markets, so that they deliver nature positive and equitable outcomes, and in so doing contribute to meeting climate goals. Professor Naoko Ishii, CGC Director, is participating in this report as a high-level member of the Task Force.
This report presents seven practical and ambitious recommendations on how to shape nature markets to make positive and equitable use of nature. Today’s economic model has destroyed nature at unprecedented rates, accelerated the climate crisis, inequality, and undermined both financial stability and food security. The shift towards pricing nature into markets could see billions of dollars mobilized for nature’s protection and a greater share of economic rewards going to nature’s stewards – but it also opens the door to risks of greenwashing and entrenchment of the extractive global economy. The Task Force’s seven recommendations can be actioned by policy makers, market actors and citizens to catalyze a global nature economy fit for the 21st century – where markets work for people and the planet.