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State of Finance for Nature 2023 Report


Why is it in the news?

  • State of Finance for Nature 2023 Report was released by UNEP.

More about the news

  • The report aims to monitor and analyse the flow of public and private finances towards Nature-based Solutions (NbS) addressing critical global issues like biodiversity loss, land degradation, and climate change.
  • Approximately US$200 billion is currently allocated to NbS, which accounts for only one-third of the required finance projected for NbS by 2030.
  • The report estimates that nature-negative finance flows, referring to financial activities potentially harmful to nature (e.g., fossil fuel subsidies), amount to nearly US$7 trillion annually.
  • To meet the targets set by the Rio Convention, the report suggests that finance flows to NbS must nearly triple from the current levels, reaching US$542 billion per year by 2030.

 

Recommendations

  • Emphasizes the need to reduce public and private nature-negative finance flows, aligning financial activities with environmental sustainability goals.
  • Advocates for the scaling up of both public funding and private investment into NbS.
  • Suggests creating non-traditional revenue streams, such as leveraging biodiversity and carbon credits to attract investments.
  • Highlights the importance of ensuring a just transition to a green and inclusive financial system.
  • Specifically emphasizes the inclusion of vulnerable groups, women, and Indigenous Peoples in shaping and benefiting from these financial systems.

 

About Nature-based Solutions (NbS)

路聽聽聽聽聽聽 NbS refers to actions designed to protect, sustainably manage, and restore natural and modified ecosystems.

路聽聽聽聽聽聽 These actions aim to address societal challenges effectively and adaptively, ensuring simultaneous benefits for both people and nature.

路聽聽聽聽聽聽 NbS encompass a range of activities, including reforestation, afforestation, wetland restoration, and green infrastructure projects. These initiatives are chosen for their potential to create positive impacts on the environment and enhance human well-being.

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