Countries call for action to finance nature recovery ahead of COP15
Publication year
Resource type
UNCCD Library
Material Type
news article
Stockholm +50 event brings government, business, finance and civil society together to discuss how to finance nature protection and restoration
Action to drive the recovery of the global economy and bolster food security worldwide by protecting and restoring nature will be set out today by government ministers, CEOs and civil society leaders at a major multinational summit being held today (Wednesday 1 June).
‘Financing the Transition to a Nature Positive Future’ will be held in association with Stockholm +50, a major environmental meeting led by the United Nations between 2-3 June. The event is being convened by the UK Government and supported by the Leaders’ Pledge for Nature (LPN).
Over half of GDP - $44 trillion - relies on the services that nature provides or natural capital - from the bees that pollinate the plants we eat, to the trees that purify our air and the forests and oceans that absorb carbon emissions. However, we are spending our natural capital much faster than it is being replenished.
At the event, the UK Government will announce a contribution of £330 million to the Global Environment Facility (GEF), the fund that supports developing countries to tackle the most pressing environmental problems and so deliver on the Sustainable Development Goals. Carlos Manuel Rodriquez, Chair of the GEF, will thank donors for their record-breaking contributions, which bring the total pledged to GEF8 to date to $5.25bn, a real increase of 29% compared with GEF7.
The event builds on the ambitious commitments made by nearly 100 countries through the Leaders’ Pledge for Nature and COP26, which put nature at the heart of global efforts to tackle climate change. The Glasgow Leaders Declaration secured commitments from 141 governments to halt and reverse deforestation. This was matched by major donors pledging $20 billion to protect and restore the world’s forests, and commitments by financial institutions and major commodity traders to make sure their investments and business support the goal of forest protection.
READ further following the link above
Action to drive the recovery of the global economy and bolster food security worldwide by protecting and restoring nature will be set out today by government ministers, CEOs and civil society leaders at a major multinational summit being held today (Wednesday 1 June).
‘Financing the Transition to a Nature Positive Future’ will be held in association with Stockholm +50, a major environmental meeting led by the United Nations between 2-3 June. The event is being convened by the UK Government and supported by the Leaders’ Pledge for Nature (LPN).
Over half of GDP - $44 trillion - relies on the services that nature provides or natural capital - from the bees that pollinate the plants we eat, to the trees that purify our air and the forests and oceans that absorb carbon emissions. However, we are spending our natural capital much faster than it is being replenished.
At the event, the UK Government will announce a contribution of £330 million to the Global Environment Facility (GEF), the fund that supports developing countries to tackle the most pressing environmental problems and so deliver on the Sustainable Development Goals. Carlos Manuel Rodriquez, Chair of the GEF, will thank donors for their record-breaking contributions, which bring the total pledged to GEF8 to date to $5.25bn, a real increase of 29% compared with GEF7.
The event builds on the ambitious commitments made by nearly 100 countries through the Leaders’ Pledge for Nature and COP26, which put nature at the heart of global efforts to tackle climate change. The Glasgow Leaders Declaration secured commitments from 141 governments to halt and reverse deforestation. This was matched by major donors pledging $20 billion to protect and restore the world’s forests, and commitments by financial institutions and major commodity traders to make sure their investments and business support the goal of forest protection.
READ further following the link above
Keywords
ecosystems restoration
financial assistance
food security
investment opportunities
SDGs targets