UN NetZero Facility for Climate-Conscious Tourism

Tourism’s Future in Focus with UNWTO’s Re-PLANET Ecosystem Launch

 

The World Tourism Organization (UNWTO), in collaboration with NOAH Regen, announced the launch of the UN NetZero Facility and Re-PLANET Capital Fund Ecosystem.

This event took place at the United Nations Headquarters in Geneva on November 14, 2023, signifying a crucial advancement in the global fight against climate change following the Paris Agreement.

This pioneering initiative represents a new era of finance governance, aiming to revolutionize the way the world approaches climate financing. The UN NetZero Facility and Re-PLANET Capital Fund Ecosystem are designed to unlock carbon value, incorporating innovative concepts such as Blue Carbon and circular business models. The primary objective is to catalyze positive transformations in the Blue and Green Economy sectors, making ecological regeneration both a necessity and a profitable venture.

Key features of this transformative framework include:

  1. Blended Financial Ecosystem: This model promotes a collaborative funding approach, combining various sources of finance to provide a robust foundation for tackling climate challenges effectively.
  2. Blockchain Technology: Utilizing energy-efficient blockchain for transparent fundraising and transfer processes, this technology ensures real-time tracking and accountability of funds.
  3. Transparency and Accountability: The initiative is committed to unparalleled transparency, accountability, and auditability, ensuring that every cent is traceable from its source to its application.

During the launch, the Director-General of the United Nations Office in Geneva, Tatiana Valovaya, emphasized the alignment of the UN NetZero Facility with the 2030 Agenda, highlighting the interconnection between human well-being and the planet’s health. UNWTO Secretary-General Zurab Pololikashvili remarked that transforming tourism into low-carbon operations is essential and that achieving Net Zero by 2050 should be the ultimate goal for a prosperous and healthy Earth.

Frederic Degret, CEO of Noah, underlined the pivotal role of the Re’planet Capital Fund, which goes beyond being a mere fund to a catalyst for change, empowering investors to promote sustainable growth.

The UNWTO’s Multi-Partners Trust Fund within the UN system will play a key role, offering advisory services and grants to expedite global progress towards net-zero carbon emissions. Operating on a blended finance model, the Facility is set to leverage investments for a climate-conscious economy transition.

Addressing some of the most challenging climate issues, the UN NetZero Facility and Re-PLANET Capital Fund Ecosystem focus on carbon credit quality, regulatory dynamics, and monetization of sovereign nature-based and carbon credits, thereby setting a new standard in climate finance and sustainable tourism.

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