Fall 2024’s Climate, Nature, and Tech News (in Under 5 Minutes)
Summer 2024 was Earth’s hottest on record, and this fall has brought worsening storms and climate impacts like extreme flooding to places previously considered climate “safe havens”. Urgency is building, as is the need for creative, innovative, and proven solutions. As we play our part in scaling those solutions, autumn has been a time of big momentum for Canada’s Forest Trust Corporation. We’re keeping some big announcements quiet (for now!) and a lot of our work happens behind the scenes: building relationships with partners, procuring and preparing land, and planting and monitoring forests. At the same time, we’ve been engaging in thoughtful panels, attending cutting-edge events, and keeping a pulse on national and global developments at the intersection of climate, biodiversity, and tech.
At Forward Summit EAST, our Chief Operating Officer Erin Flood participated in a roundtable discussing the recognition and respect of the rights of Indigenous Peoples in sustainable forestry initiatives. Erin joined Francis Archibald of Apitipi Resources LP, Jacob Handel from Finite Carbon and Jessica Kaknevicius from Forests Ontario, and together they explored carving a path toward a more sustainable future for forestry.
Our team also attended the Elevate conference in Toronto, surrounded by visionary entrepreneurs, investors, and innovators. The spotlight on AI and technology showcased the potential across industries, and the untapped advantages that climate and nature tech have to offer companies like CFTC.
We took part in the World Biodiversity Summit at Climate Week in New York City. The big themes of this gathering included that climate and nature are two sides of the same coin, making progress on our biodiversity goals requires everyone (including business), and companies are paying attention because they see the reputational and operational risks of inaction. Indigenous perspectives and expertise must be centered in decisions regarding biodiversity and nature. Tech is our friend, and we need scale and speed.
On National Day for Truth and Reconciliation, as a team we recognized the tragic history and ongoing impacts of residential schools. We wore orange shirts to remember the children lost, honour the healing journeys of Survivors, and stand in solidarity with affected families and communities. Also in September, we celebrated National Forest Week and were proud to see many of our clients proudly sharing their CFTC partnerships with their communities.
In our spare time, we’ve been reading hot-off-the-press reports released this fall. The Deloitte 2024 CxO Sustainability Report surveyed over 2100 executives across 27 countries, and no surprise, climate change remains a top-three priority for 70% of global C-suite leaders. This year, 85% of leaders increased their sustainability investments—up from 75% in 2023—and 45% are transforming their business models to tackle climate change. These trends are worth paying attention to, and every day we see businesses show leadership by committing to grow a Smart Forest™ with CFTC.
Closer to home, a new report from Smart Prosperity Institute and Nature United called Unlocking the Economic Power of Natural Climate Solutions laid out the economic case for solutions like protecting and restoring forests. The report highlighted how Natural Climate Solutions like forests create multiple benefits, including substantial greenhouse gas emissions reductions, and significant social, cultural, biodiversity, and economic benefits. Cultivating forests is a wise investment: the restoration of forest cover in southern Ontario can lead to an increase of $6.50 in GDP for every tree planted, amounting to $12 million annually.
So, what else is coming up?
We’rejust getting started. We have our eyes on the United Nations Biodiversity Conference (CBD COP16) in Cali, Colombia, where this month. a lot is at stake. As articulated by The Nature Conservancy, “The goal is to transform the commitments of the 2022 Kunming-Montreal Global Biodiversity Framework (GBF) into actionable plans. Ultimately, the decisions made at COP16 will shape our planet’s future.” COP16 will include another World Biodiversity Summit, which will dive into essential topics like how to integrate business into sustainability. Our eyes will be on the conversation about Forest Management 2.0: Innovations and Applications which will look at how digital solutions are reshaping the future of forest management. It is exactly that symbiosis between data, technology, biodiversity, and climate resilience that shapes our ethos at Canada’s Forest Trust Corporation.
October will bring with it a host of important days, like Youth Climate Action Day on October 22 and World Mental Health Day on October 23. With 83% of young people believing that previous generations have fallen short in protecting the planet, the message is clear – there’s still a lot of work ahead. The best antidotes to climate anxiety that young people experience are proven, impactful climate solutions like forests.
Finally, the global United Nations climate gathering COP29 will take place in Baku, Azerbaijan, in November. With a theme of investing in a livable planet for all, COP29 aims to accelerate action to tackle the climate crisis. This is a key moment for countries to present their updated national climate action plans under the Paris agreement, which are due by early 2025. If done right, these plans will limit global warming to 1.5°C above pre-industrial levels.
Whether it is at an event close to home or a gathering on the world stage, we are paying attention to concrete commitments, business leadership, responsible forestry practices, and tech-enhanced solutions. We know that these solutions are needed urgently to safeguard our climate and nature for future generations. Join us in taking action today.
