(Thomson Reuters Foundation) – Global annual spending to protect and restore nature needs to triple this decade to about $350 billion by 2030 and rise to $536 billion by 2050, a U.N. report said on Thursday, urging a shift in mindset among financiers, businesses and governments.
The inaugural State of Finance for Nature report looked at how to tackle the planet’s climate, biodiversity and land degradation crises, estimating about $8 trillion in investment would be needed by mid-century to safeguard natural systems.
Inger Andersen, executive director of the United Nations Environment Programme (UNEP), told the report launch the amounts required may sound large but “it’s peanuts when we are frankly talking about securing the planet and our very own future”.
“Our health, the quality of our lives, our jobs, temperature regulation, the housing we build and of course the food we eat, the water we drink” all depend on well-functioning natural systems, she said.
Report co-author Ivo Mulder, who heads UNEP’s climate finance unit, said financial flows should work with nature rather than against it.