Investments in nature-based solutions should triple by 2030 and quadruple by 2050, a new report warns that the status quo is irreversible if it does not change the economy, the planet and humanity.
A new Nature Report for Finance warns that public and private investment is projected to triple $ 350 billion by 2030 from the current $ 133 billion – or $ 4.1 trillion difference by 2050.
“It’s doable, but it’s not done,” Teresa Jartman, one of the report’s authors and climate and nature leader at the World Economic Forum, told Al Jazeera.
“If we take the existing financial flows, the recovery packages, the subsidies, the tax revenues – and if we redirect them, that’s the goal that can really be achieved.”
The world is having to tackle three major emergencies at the same time. The first is obviously the Covid-19 pandemic that is still raging around the world, the second is climate change, which is also getting much worse every year, and finally, there is biodiversity loss, which will mean the loss of up to a million species if we cannot stem the tide.
What is being done and what more needs to be done, at both the global as well as national levels?
At the global level, for climate change, we have the United Nations Framework Convention on Climate Change (UNFCCC) and the Paris Agreement on Climate Change. For biodiversity, we have the Convention on Biodiversity (CBD), and for Covid-19, we have the World Health Organization (WHO) and its COVAX vaccine initiative. Both the CBD and UNFCCC will be holding their respective annual Conference of Parties (COP) in the next few months.
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