Natural climate solutions are solutions around all of the ecosystems on the planet, our forests, our grasslands, our wetlands, that can address climate change they already absorb a huge amount of carbon. How can we work with those ecosystems to both reduce emissions from those ecosystems as well as enhance their sequestration. They act as a huge giant sink for carbon. The word "natural" is really important. We didn't have to intervene for all of human history making these systems do what they do. Now though we need them to do more of it. At least 20% of the total climate solutions will come from our lands. They are available today. We don't need to wait for tech fixes that will come decades down the line It makes no sense at all the talk about carbon capture and sequestration as a technological solution without thinking about what that is relative to a natural sequestration. We know there are things that we can be doing to enhance how food is produced and reduce emissions from land use and the agriculture sector we know that there are things that we can do today to be restoring forests to be incentivizing different forestry practices. Decarbonizing energy alone is not sufficient to address the scale of the threat we face with climate change.
We start recognizing what our ecosystems do today to already be absorbing so much carbon, then we start to recognize this is actually a critical biological bridge to be able to get too deeper decarbonisation away from the energy sector that we cannot do without. We've got to get the science for network solutions really watertight that we can demonstrate to politicians, to corporates that this is a serious sector In California we have a comprehensive climate change regulatory program that included cap-and-trade mechanism with a role for forests. This is the first one in the world that actually allows force landowners to produce offets that regulated entities like utilities can submit to meet the requirements of the law. There's a parallel revenue stream that's being generated from the auction of the permits. That is producing more than a billion dollars for Californians. In many other parts of the world you have forest dependent communities, you have indigenous communities. who know very well how to protect their natural environment they see the natural world and their own world is much more integrated.
20 percent of the world's forest carbon is found in Indigenous lands. So this means that if we're gonna be serious about finding solutions to climate and serious about finding solutions to conservation then that means we need to be engaging indigenous people in local communities. We gotta bring multiple parties together to recognize that there are shared objectives. The role of the private sector really coming forward and saying what's good for climate mitigation can also be good for business. This is really not a tradeoff anymore. We have to have policies that stimulate the enabling environment. We need to have a price for carbon. We need to have the right mechanisms where credits can be offered to businesses that are facing steeper costs to abate emissions in other ways. We need to full force, and the full creativity of the financial service industry, to come behind helping us find solutions get from us science-based NGOs, academic organizations. What we all know, because we know a ton. And help us convert that into investable structures.
We need to find new ways of bringing private sector actors in of unlocking the entrepreneurial spirit of people around the world to shape so of these solutions. The Nature Conservancy has relationships, it has land assets, it has field programs around the world. If we can leverage all of that then The Nature Conservancy can play a very very important role in addressing the climate challenge..