Regulation & Policy Jul 1, 2021 4:04 PM
The UN spoke about the need to increase investments in nature.
The organization said that annual financial investments in “nature-based solutions“, such as reforestation, should triple by 2030 and quadruple by 2050, El Tiempo reported.
The ‘State of Finance for Nature’ report, released by the United Nations Environment Program (UNEP), the World Economic Forum (WEC) and the Economics of Land Degradation Initiative, estimated that US$8.1T needs to be invested in nature by 2050.
“Biodiversity loss is already costing the global economy 10% of its output each year. If we do not sufficiently fund nature-based solutions, we will limit the ability of countries to make progress in other vital areas, such as education, health and employment,” UNEP’s Inger Andersen said.
The report calls for putting nature at the center of financial decisions to address the triple crises of climate, biodiversity and land degradation.
The UNEP sees the need to redirect environmentally “harmful” agricultural and fossil fuel economic subsidies and create new economic incentives for nature-based solutions.
The agency said that measures related to forest management, conservation and restoration will require about US$203B in annual global spending.
“Estimates are uncertain because the flow of capital towards nature-based solutions is not consistently recorded or documented,” the UNEP admitted.
The UNEP said that one of the main challenges will be to increase private capital for nature-based solutions, guarantying sustainable economic growth for this century.
“The report is a wake-up call for governments, financial institutions and businesses to invest in nature, including reforestation, regenerative agriculture and restoration of our ocean,” Andersen concluded.
Bottom-Line: Developed countries are the ones that need to commit the most to these investments, as their actions will really start to make a difference.
Colombia is doing its part, promoting new technologies and sustainable investments, and the government must leave a solid and attractive regulatory framework to continue on this path in the medium and long term.