UN Reports Confirm That Global Investment Towards Climate And Nature Must Triple By The End Of The Decade
The joint reports, on financing for nature, by the conservation UN Environment program, the World Economic Forum, and the Economics of Land Degradation Initiative, examined the ways the wealthy nations can contribute to preventing more natural disasters and climate change.
In addition, to promote the green energy spaces, sustainable qualitative farming, and supply chains the ways G20 countries can tackle the rising Global warming. The state of Finance for Nature in the G20 reports said that the annual investment must reach 285billion USD by 2050. The group includes the world’s most advanced economies that must focus on the climate change, biodiversity conservation, and land degradation crises by increasing the investment, it further reported.
The UN reports published that G20 spending will prove to be one of the biggest factors in tackling the climate disaster. The spending stands in 2020 at 120 billion USD.
It further notes that the spending gaps in the Non-G20 countries are larger and become so difficult to fill. It traces back to the reports by State Finance for Nature- Tripling investment nature-based solutions that asked the 4.1 trillion NbS financing gap in the years between 2020 and 2050.
UN reports find that only 11 percent, which amounts to 14 billion USD annually, are spent on the concern. The investment from the private sector remained small, which contributes 60 percent of the GDP of the G20 countries.
However, the report also presents that 92 percent of the total investment comes from the G20 countries.
Moreover, it says that 87 percent of the total investment is distributed in the domestic programs which amounted to 105 billion USD. The findings also have confirmed that countries need to invest more towards net-zero and nature-positive projects.
To meet the targets, concerning the agreed biodiversity and land restorations, countries have to increase the investment to 140 percent, which means the private sector investment will have to be increased by the private sector and ODA.
With an urgent note, it stated that the paradigm shift by Government, organizations and private sectors has to be made with collaborations to tackle the nature, land degradation, and climate problems to save the planet from a massive loss.
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