World leaders pledge more support for nature ahead of UN summit

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World leaders on Tuesday stepped up their financial support and conservation pledges to tackle the global biodiversity crisis that threatens more than a million plant and animal species with extinction.

On the sidelines of the United Nations General Assembly meeting in New York, Germany has pledged to provide 1.5 billion euros per year in international biodiversity financing, more than double its commitments current. Nations will soon gather in Montreal, Canada, for a critical UN Biodiversity Summit (COP15) to finalize and adopt a framework for nature protection and conservation.

More than half of global GDP is highly dependent on the natural world, according to a 2020 report by the World Economic Forum. The December conference “must be a turning point in our conservation efforts,” German Chancellor Olaf Scholz said as he announced the new funding. “With this contribution, we want to send a strong signal for an ambitious outcome of COP15 biodiversity.”

World leaders have so far struggled to agree on a new global framework. Economists say that to reverse biodiversity decline by 2030, the world needs to spend up to $967 billion a year, giving a current gap of more than $800 billion a year.

While Germany has pledged the most funding of any industrialized country, others have announced new strategies, including a biodiversity finance plan backed by Ecuador, Gabon and the UK, among others. . The plan “sets out what we expect from governments, financial institutions, the private sector, philanthropists and civil society, to meet the challenge of increasing and mobilizing resources for biodiversity,” the president said. Ecuadorian Guillermo Lasso.

Those attending the high-level side event, including Canadian Prime Minister Justin Trudeau, reiterated their commitment to protect and conserve at least 30% of their land and ocean territory by 2030. historic progress in meeting our commitment,” said Trudeau. said. “We will continue to mobilize global support to achieve this goal and protect biodiversity on the planet.”

Currently, around 17% of the world’s land area is under protection, according to a 2021 report by the World Economic Forum. But only 7% of the world’s ocean is under some kind of conservation program, with less than 3% highly protected.

(This story has not been edited by the Devdiscourse team and is auto-generated from a syndicated feed.)

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