THE GND IS HYPER-CAPITALIST:

Chile is a good example. The government announced an updated climate pledge in April, together with a new climate bill that is currently before the National Congress. The updated NDC links climate action to sustainable development and a just energy transition. At its core is a commitment to achieving carbon neutrality by 2050, and it is easy to see how the government's pandemic response can help to achieve this goal by accelerating the necessary transitions in the energy and transportation sectors.

But Chile's new NDC also shows another front where countries' economic recovery plans can receive a significant boost: nature-based solutions. The NDC demonstrates an understanding of the role nature can play in achieving carbon neutrality, as well as in adapting to the effects of climate change and recognizing the importance of creating and maintaining natural carbon sinks.

For starters, Chile's climate plan links ocean and climate health, while acknowledging the economic value of coastal ecosystems. We don't need to look far for an example of how healthy marine ecosystems support local economies. In Mexico, in the Gulf of California and the Baja California Peninsula alone, marine ecosystems generate $518 million in annual tourism revenues and directly account for at least 3,575 jobs. Given Chile's extensive coastline, the possibilities are much likely orders of magnitude higher. The NDC does not disappoint in this regard: It includes a commitment to turn 25% of its exclusive economic zone into a protected area. If properly implemented, this pledge would create new economic opportunities for the country.

The new NDC also significantly strengthens Chile's commitments regarding forests. The government has doubled its target for sustainable forests management and restoration from 100,000 hectares to 200,000 hectares by 2030. Likewise, it will plant 200,000 hectares of new forests (up from 100,000 hectares), of which at least 100,000 hectares will comprise permanent forest cover and at least 70,000 hectares will be native species. Finally, Chile has said it will cut emissions from deforestation and land degradation by 25% by 2030.

The link to economic growth (albeit understudied and underappreciated) is clear here as well. Pursuing these targets will enable governments to create a variety of jobs, including foresters, botanists, machinery operators, and laborers. And restored landscapes offer additional benefits. A 2016 study by the World Resources Institute found that in Latin America, reviving degraded lands would yield $23 billion in net benefits over a period of 50 years. On average, farmers who restore their land can earn an extra $1,140 per hectare in net economic value.

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