Environmental costs to reach 400 billion by 2025-UN
2022.12.01 03:32
Environmental costs to reach 400 billion by 2025-UN
Budrigannews.com – The U.N.’s environment watchdog stated on Thursday that investments in better managing and protecting the world’s ecosystems must reach $384 billion annually by 2025, more than double their current level, in order to protect against the risks posed by climate change and the loss of natural resources.
Countries will attempt to reach an agreement to protect nature and wildlife from further losses and degradation of species and landscapes at a biodiversity summit beginning next week in Montreal, Canada. The calculation will serve as the basis for this agreement.
According to a report from the United Nations Environment Programme (UNEP), governments currently spend $154 billion annually on “nature-based solutions,” which protect and better manage water, land, air, and wildlife.
Ivo Mulder, head of UNEP’s climate finance unit, stated, “This will have to increase by several orders of magnitude if we are to tackle the triple crisis of land degradation, climate, and nature.”
He continued, “It shouldn’t be too hard a stretch even if we are living through multiple crises” such as the war in Ukraine and spiraling inflation because “about 50% of global GDP is dependent on healthy and well-functioning ecosystems.”
The report found that governments are spending $500 billion to $1 trillion per year on potentially harmful subsidies for fossil fuels, agriculture, and fisheries.
Last year, more than 100 nations came together in the Chinese city of Kunming to work toward the protection of biodiversity. However, they were unable to come to an agreement on a number of issues, including how to fund conservation efforts in less developed nations.
The current year’s gathering was because of occur in Kunming, however the scene was changed as a result of its zero-Coronavirus checks. China will remain in charge of the country.
When world leaders last signed a biodiversity agreement in Aichi, Japan, in 2010, they set goals to slow down loss by 2020, but none of them were achieved.
“Will have to combine ‘net zero’ with ‘nature positive’,” according to UNEP, despite their commitments to reducing carbon emissions and deforestation, private sector actors only account for 17% of spending on nature-based solutions.
