UN urges G20 to spend to fight climate change

A new report into nature-based solutions (NbS) that “protect, sustainably manage, and restore natural and modified ecosystems” will need to rise by 140 per cent by 2050 to meet climate and biodiversity goals.

With current G20 investments into NbS standing at around $120bn per year, the report jointly published by the UN Environment Programme (UNEP), World Economic Forum (WEF), and the Economics of Land Degradation (ELD) Initiative, calls for a scaling up of investment with an additional $165bn.

The report, The State of Finance for Nature in the G20, also urges high income countries to close up a $4.1tr financing gap in nature-based solutions, by 2030. Although precise definitions of what NbS actually is means that there is still some discussion on how to achieve any progress, the report proposes investing NbS in developing countries and harnessing private capital to help bridge the funding gap, noting that private sector investments make up 11 per cent of investment whilst contributing 60 per cent of the national GDP of the G20 countries.

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