WOBO supports the work carried out to restore and maintain the current eco systems and thanks “edie” for the link.

A coalition of the world’s largest environmental NGOs is urging developed nations to pledge at least $60bn for international finance for nature in developing countries annually, ahead of the UN’s biodiversity summit.

Announced 1 March 2022, the call to action is being made by organisations including WWF, the World Resources Institute (WRI), The Nature Conservancy and the Rainforest Trust.

The NGOs have pointed to the fact that, by UN estimates, less than $10bn is allocated globally to international biodiversity finance. The organisation recommended last year that at least $8.1trn is provided to nature-based solutions alone – projects which involve the restoration of ecosystems in a way that also enhances climate mitigation and/or adaptation efforts – by 2050.

Without increased finance, the NGOs are emphasizing, risks to biodiversity – and, in turn, to livelihoods, public health and the economy – will crystalise. WWF forecast in 2020 that the global cumulative cost of natural ecosystem damages will reach £8trn by 2050. Shortly after that prediction was published, the World Economic Forum released a paper outlining how the economy is more dependent on nature than previously thought, with half the world’s GDP ($44trn) dependent on nature.

The major new report from the Intergovernmental Panel on Climate Change (IPCC) this week has only emphasized the scale of this risk further.

NGOs press UK and other wealthy nations for $60bn international nature finance commitment