Going beyond market-based mechanisms to finance nature-based solutions and foster sustainable futures

Failure to address the climate and biodiversity crises is undermining human well-being increasing global inequality. Given their potential for addressing these societal challenges, there growing attention on scaling-up nature-based solutions (NbS). However, are concerns that in its use, NbS concept dissociated with social economic drivers of including pervasive focus market-based mechanisms growth imperative, promoting risk greenwashing. In this perspective, we draw recent research effectiveness, governance, practice highlight key limitations pitfalls a narrow natural capital markets finance scaling up. We discuss need simultaneous push complementary funding examine how financial instruments mechanisms, while important bridge gap reduce reliance public funding, not panacea NbS. Moreover, present significant governance further entrenching power asymmetries. propose four recommendations ensure foster more just, equitable, environmentally sustainable pathways support CBD’s (Convention Biological Diversity) 2050 vision “living harmony nature”. stress must be used distract away from reducing emissions associated fossil fuel use or promote an agenda perpetual call government policy makers decenter GDP as core political target, refocusing instead ecological well-being.