what do a caribbean reef and ontario wetlands have in common? - carbon dioxide absorbent
Ask Brian gilvichy how to deal with climate change and he will tell you about the 7 acres of high grass native Ontario.
This is a humble piece of land on his ranch outside Tilson Castle, where the resurrected plants are left to breathe in carbon dioxide
The most prolific greenhouse gas in our atmosphere
Home to endangered birds and badgers.
The deep roots of the grass will also reinforce the soil to make it easier to absorb, so when heavy rain comes, the ground can hold more water before the flood comes.
But with respect to the grass, Gilvesy believes that it represents the promise that the best thing is: he is paid for the restoration and maintenance of the grass.
"What we're trying to get farmers into their farms to produce is not just the thinking space for food and fiber that they traditionally get used to," said Gilvesy, who is now chief executive of ALUS Canada, the organization began paying him fees in 2006 to promote and protect the natural landscape on his pasture.
"They can produce things that are valuable to the larger community and to all Canadians," he said . ". With record-
This spring, floods have ravaged communities in three provinces, and annual wildfires have swept through forests in the West. federal scientists predict that climate change will cause more extremes in Canada in the coming decades.
For many people, including cities like VictoriaC.
They are considering lawsuits against large emitters to pay for the necessary infrastructure upgrades, and the challenges of how to adapt to the new realities of a warming world are becoming increasingly urgent.
In this spirit, groups such as ALUS in Canada and elsewhere in the world are part of a nascent effort to restore and protect the natural buffer zone in response to more frequent and severe weather damage.
But the government is not old-fashioned.
These groups lead protection.
Profits, insurance companies and some governments
They are trying something new: they want to find hidden motives for the private sector to pay for the restoration and protection of what they call "natural infrastructure" or "natural capital.
"ALUS's existing projects are funded by donations from individuals, governments and companies.
The idea is to pay farmers the cost of planting trees and native grass, or to restore wetlands on their properties, in part to enhance their ability to withstand the growing floods and heavy rains.
The organization's spending resumed about 23,600 acres in six provinces.
Gilvesy said that the payment was based on the value of the land, and that Ontario recovered about $150 per acre.
But ALUS is now looking for ways to fund the restoration of these natural features by investing instead of donating.
"Our organization has spent a lot of time trying to tap emerging markets," Gilvesy said . ".
"We are trying to find value for all kinds of natural capital.
Rose's deputy, Laura Ellis.
The president of policy and Partnership said that one option being considered was "environmental impact bonds" that could be sold to charities, with insurance companies and governments funding natural barriers to Restoring floods and disasters.
Investors will be rewarded later because over time new forests, wetlands and other natural features have accumulated savings for the protection of infrastructure and private property.
Such plans can be used in places like Manitoba, where a major highway often floods and the government doesn't want to always pay for disaster relief, Ellis said.
The key is to find out who has an economic interest in protecting and restoring these natural disaster barriers.
"You have to figure out who will benefit from reducing risk and then model the tools around this fun," she said . ".
At the recent summit of the ministers of environment of the Group of Seven in France, Catherine McKenna of Canada supported the alliance for marine risk and operational resilience, promote the use of private sector funds to protect coastal areas such as coral reefs and mangroves, which are natural barriers to rising waters and storms.
"We need to fund in different ways to protect more nature, especially for developing countries with no money," McKenna told reporters at a conference call in France on May 6.
"Therefore, the use of insurance to cover coral reefs, mangroves (creates)
"The right incentives for countries to invest more naturally," she said . ".
An example of using private funds to protect nature can be found on the Yucatan Peninsula in Mexico.
In 2018, Cancun hotel association cooperated with Washington
The natural Conservation Association and the local state government are based at 60-
The Caribbean extends kilometers of Central American coral reefs.
This policy involves payment to a local insurance company that has a reinsurance policy with Swiss Re Global to protect coral reefs.
When a strong wind or anything else destroys a coral reef, Swiss Re pays for its speedy restoration
Within 24 or 48 hours, Nikhil da Victoria Lobo, head of public sector solutions for the Americas of the company, told Star.
"We have long known that natural infrastructure is directly related to reducing or mitigating the effects of some natural disasters," he said . " He described coral reef insurance as a "pilot project" for Swiss Re ".
"I think the fact that we do this proves its enforceability," he said . ".
"By launching the program, more people will invest in science and quantify its benefits.
Although Canada does not use a similar insurance plan, the policy is interestedmakers.
The chairman of Federal Affairs of the Canadian insurance agency said he was scheduled to submit the subject to the environment committee of the House of Commons on June 3 and would address the Council of Canadian environment ministers later this month.
A potential Canadian target for insurance schemes like coral reefs near Mexico is an area outside Windsor, Ontario. , said Stewart.
He could envision the municipalities working with an insurance company to set up a fund to pay farmers money to restore the wetlands on their property, which would reduce the risk of flooding in the southern part of the city, because wetlands are natural reservoirs.
Like Swiss Re in Mexico, such an arrangement makes sense for an insurance company, because if the flood is not so serious, the compensation for flood losses will be lower.
It will also lead to lower premiums for people who pay flood insurance in the area, he said.
"Protecting the natural infrastructure is like having a fire station near your home," Stewart said . ".
"This will prevent damage to the community and reduce the risk of the whole community, so insurance companies can save and they can pass that savings on to their customers.
For Gilvesy, the insurance plan is like a canary in a coal mine, "because they point out a way to determine who's private interests may be in dispute, funding is provided to restore and protect these natural buffers from the growing consequences of climate change.
As his organization continued to explore this new field, he said that the general direction was in line with his spirit as a ranchers and that for 40 years he had been trying to be responsible housekeepers on the land.
"We don't have enough natural capital in the landscape --
As a result, natural infrastructure helps protect us as the climate fluctuates dramatically, "he said.
"It's a way that can happen. ”Correction -
May 27, 2019: The article was edited from a previous version that misspelled the last name of Nikhil da Victoria Lobo.
Alex Ballingall is from Ottawa.
A reporter covering national politics.