IsDB: Investments in nature-based solutions will transform the labor market

Investments in nature-based solutions will transform the labor market, Bradley Hiller, Lead Climate Change Specialist at the Sustainability and Climate Action Department of the Islamic Development Bank (IsDB), said at the event "Nature-Based Solutions for Sustainable Arab Cities: From Local Action to Urban Transformation" within WUF13 in Baku.

Report quotes him as saying the IsDB, in cooperation with the International Labour Organization (ILO) and Cambridge Econometrics, carried out quantitative modeling of climate policy scenarios for the MENA region (Middle East and North Africa).

"This allowed us to identify scenarios of labor market dynamics and economic opportunities linked to the transition to low-carbon, climate-resilient development pathways," Hiller said.

He added that at COP30 in the Brazilian city of Belém, multilateral development banks launched a joint taxonomy and tracking methodology for nature finance, which has the potential to support the mobilization and scaling up of nature-based solutions.