1. © Z/Yen Group 2010 © Z/Yen Group 2011 Z/Yen Group Limited Risk/Reward Managers 5-7 St Helen’s Place London EC3A 6AU United Kingdom tel: +44 (20) 7562-9562 “When would we know our financial system is working?” Long Finance - London Accord Spring Conference 2011 Peak Everything: Enough To Go Around?

2. ` 2 The University of Edinburgh London Accord – Merrill Lynch – 24 th March 2011 Finance, Biodiversity and Ecosystems Dr. Geneviève Patenaude School of Geosciences genevieve.patenaude@ed.ac.uk

3. ` 3 Food availability: x 3 in last 50 years Food production per capita: + 25-30% Food prices: all time low Unbelievable successes

4. ` 4 genevieve.patenaude@ed.ac.uk At a price… Gradual decrease in global catches since late 1980’s

5. ` 5 genevieve.patenaude@ed.ac.uk At a price… (c’td) Increasing depth of catches

6. ` 6 genevieve.patenaude@ed.ac.uk At a price… (c’td) Increasing depth of catches

7. ` 7 genevieve.patenaude@ed.ac.uk In some cases, unprecedented pressure Gradual increase in landings until 1960s Trawlers & drift nets Collapse of stock Reversal to previous practices Non-linearity of ecological systems

8. ` 8 genevieve.patenaude@ed.ac.uk Global Ecosystems: States and trends Broad Ecosystems

9. ` 9 genevieve.patenaude@ed.ac.uk Global Ecosystems: States and trends Drivers of change: Habitat change Climate change Invasive species Over-exploitation Pollution

10. ` 10 genevieve.patenaude@ed.ac.uk Global Ecosystems: States and trends Past trends (last century)

11. ` 11 genevieve.patenaude@ed.ac.uk Global Ecosystems: States and trends Actual & future trends

12. ` 12 genevieve.patenaude@ed.ac.uk Global Ecosystems: States and trends

13. ` 13 genevieve.patenaude@ed.ac.uk Global Ecosystems: States and trends

14. ` 14 genevieve.patenaude@ed.ac.uk Global Ecosystems: States and trends

15. ` 15 genevieve.patenaude@ed.ac.uk Global Ecosystems: States and trends

16. ` 16 genevieve.patenaude@ed.ac.uk Global Ecosystems: States and trends

17. ` 17 genevieve.patenaude@ed.ac.uk Can the world rise to an acceptable level of human development without overloading its environment? Source: WWF 2008 Africa : Ecological Footprint and Human Wellbeing WWF–Gland, Switzerland and Global Footprint Network (GFN), Oakland, California USA.ISBN 978-2-88085-290

18. ` 18 genevieve.patenaude@ed.ac.uk To ensure societal well-being (now and later, within sustainability threshold): Appropriate institutional choices, including valuation of biodiversity. Source: WWF 2008 Africa : Ecological Footprint and Human Wellbeing WWF–Gland, Switzerland and Global Footprint Network (GFN), Oakland, California USA.ISBN 978-2-88085-290

19. ` 19 genevieve.patenaude@ed.ac.uk Financing biodiversity and ecosystems

20. ` 20 genevieve.patenaude@ed.ac.uk Carbon versus biodiversity offsets 1.Define a currency e.g. CO 2 e e.g. Habitat Hectare or species richness 2.Approve methodologies & standards e.g. CDM e.g. Sustainable Forest Management Standards 3.Negotiate targets/caps and timelines e.g. 2°C average warming above pre industrial levels e.g. Protected area coverage 4.Choose investment instruments e.g. Cap and trade emissions e.g. Habitat credit trading 5.Monitor, Report, Verify e.g. National reports to UNFCCC; Carbon disclosure project e.g. National biodiversity action plans and national reporting (CBD) 6.Learn and adapt e.g. Commitment periods e.g. ???

21. ` 21 genevieve.patenaude@ed.ac.uk Datasets: Biodiversity priorities and ES value White: low values for both Black: high values for both Source: Turner et al. (2007) Global conservation of Biodiversity and Ecosystem Services. BioScience. 57 (10). p.868-873

22. ` 22 genevieve.patenaude@ed.ac.uk Datasets: Diversity of mammal species. Source: IUCN Red List (2011) http://www.iucnredlist.org/initiatives/mammals/analysis/geographic-patterns IUCN Global

23. ` 23 genevieve.patenaude@ed.ac.uk Datasets: Forest canopy height (0 - 70 meters) Source: NASA Earth Observatory. Data from Michael Lefsky.

24. ` 24 genevieve.patenaude@ed.ac.uk NERC funded activities: some examples Programmes Biodiversity and Ecosystem Services Sustainability Initiative www.nerc.ac.uk/research/programmes/bess Ongoing & forthcoming activities Valuing Nature Network PI: Prof. Ian Bateman, UEA Forest-Finance Risk Network PI: Dr. Genevieve Patenaude, UoE NERC mission concept. Multispectral Canopy Lidar PI: Dr.Iain Woodhouse, UoE; CO-I: Dr. Genevieve Patenaude, UoE et al. Overview of datasets and activities Grants on the Web (GOTW)

25. ` 25 genevieve.patenaude@ed.ac.uk Pathway to long finance How to optimise NERC’s biodiversity and ecosystem services science-base for use by the financial sector Information Data Models

26. ` 26 The University of Edinburgh London Accord – Merrill Lynch – 24 th March 2011 Thank you. Dr. Geneviève Patenaude School of Geosciences genevieve.patenaude@ed.ac.uk