UNWTO refinances tourism for climate action with the United Nations

In collaboration with NOAH Regen, UNWTO has rethought tourism financing with the launch of the United Nations NetZero Fund and the Re-PLANET Capital Fund Ecosystem

(Source: UNWTO)

The launch took place on November 14, 2023 at United Nations Headquarters in Geneva, marking a pivotal moment in the global campaign against climate change following the adoption of the Paris Agreement by 196 parties.

A new era of financial governance

The United Nations NetZero Fund and the Re-PLANET Capital Fund ecosystem aim to foster a new era of global financial governance. This transformative initiative aims to unlock the value of carbon, incorporating concepts such as Blue Carbon and circular business models. The ecosystem is dedicated to catalyzing positive changes in the blue and green economy sectors, transforming regeneration not only into an ecological necessity but also a profitable endeavour.

Highlights of the framework include:

Blended Financial Ecosystem – A collaborative approach that integrates diverse sources of finance, providing a solid foundation to address pressing climate challenges.
Blockchain Technology: Using low-energy blockchain technology to transparently raise and transfer funds, ensuring real-time tracking and accountability.
Transparency and Accountability: Committed to unparalleled transparency, accountability and auditability, ensuring traceability of funds from inception to implementation.

Announcing the launch

Director-General of the United Nations Office at Geneva (UNOG), Tatiana Valovaya, said: “The UN NetZero Fund is designed to resonate with the 2030 Agenda, which reflects the interconnection between human well-being and human health. planet".

UNWTO Secretary-General Zurab Pololikashvili says: "The transformation of tourism towards low-carbon operations is our compass, let's make Net Zero our destination by 2050: a journey towards prosperity and a healthy Earth."

Frederic Degret, CEO of Noah, adds: “We are at a crucial moment. The Re'planet Capital Fund, in accordance with article 9 of the SFDR, is not just a fund; “It is a catalyst for change that allows investors to drive sustainable growth.”

Mixed financing model

The UNWTO Multi-Partner Trust Fund, within the United Nations system, will offer advisory services and grants to accelerate global progress towards achieving net-zero carbon emissions. The Fund will operate under a blended financing model and is intended to leverage investments for the transition towards building a climate-conscious economy.

The United Nations NetZero Fund and the Re-PLANET Capital Fund Ecosystem will address some of the most capital-intensive climate issues, such as the quality and integrity of carbon credits, regulatory and market dynamics, and the monetization of sovereign nature-based and carbon credits.

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