Current investments in nature-based solutions need to be tripled to effectively tackle climate change and preserve biodiversity by 2030, according to a new study.
Carried out by the World Economic Forum, in collaboration with the United Nations Environment Programme (UNEP) and the Economics of Land Degradation (ELD) Initiative, this new study considers that investment totaling $8.1 trillion in nature is required over the next three decades to effectively manage the consequences of the climate crisis, preserve biodiversity and halt land degradation.
According to these expert estimations, annual investment should reach $536 billion annually by 2050 in order to successfully tackle the issues. Current investment in solutions for preserving nature stands at around 0.10% of global GDP, amounting to around $133 billion.
"Biodiversity loss is already costing the global economy 10% of its output each year. If we do not sufficiently finance nature-based solutions, we will impact the capacities of countries to make progress on other vital areas such as education, health and employment. If we do not save nature now, we will not be able to achieve sustainable development," said UNEP Executive Director, Inger Andersen.
She continues: "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."
Among the examples of investment required, the study mentions the management, conservation and restoration of forests. This alone will require $203 billion in total annual expenditure globally (or just over $25 per year for every citizen in 2021).
"While investments in nature-based solutions cannot be a substitute for deep decarbonization of all sectors of the economy, they can contribute to the required pace and scale of climate change mitigation and adaptation," the report concludes.