![]() ![]() Governments also play an important role in catalysing crucial private sector investment through a range of policies and mechanisms, such as early-stage grants, blended finance, and fiscal incentives to reward biodiversity-positive investments. With 80 – 85% of the biodiversity funding coming from domestic budgets, this will need to continue to be a major source of sustained funding. Most of the world’s biodiversity exists in countries that require financial support to achieve biodiversity goals and targets, and effective, accessible and catalytic ODA will need to be scaled up for these countries. Funding will be needed from all sources – public and private sector, domestic and international. There must be an increase in financial resources committed to rebalancing nature with people. Improving the effectiveness and efficiency of our actions – doing more with our limited resources. ![]() Reducing harmful investments to reduce the total funding needs.Three actions for closing the funding gapĬlosing the biodiversity funding gap will require actions on three fronts: The actions required to reduce the gap are wide-ranging and include efforts across all of society. If the world is serious about closing the funding gap, it is entirely possible. The funding gap is only a small fraction of global GDP – around 0,7%. The funding gap and its impact on nature are too large to ignore. While there remains some uncertainty about the exact size of the funding gap, there are three things we do know: The funding gap for the broader range of actions under the CBD has been estimated to be between $599 billion and $824 billion annually. There have been several estimates using different methodologies and considering different targets.įor example, the funding gap for safeguarding 30 per cent of our terrestrial and marine areas has been estimated to be between $103 billion and $178 billion annually (around 0,3% of our global GDP). It is difficult to measure the global biodiversity funding gap accurately. In the draft Post-2020 Global Biodiversity Framework, targets related to closing the funding gap are among those under intense debate. One of the main reasons many of the previous decade’s biodiversity Targets were not reached was insufficient resources to match the need. While there are strong calls for an ambitious framework, including from the business and finance sector, much of the text of the draft Post 2020 Global Biodiversity Framework is still “bracketed” – indicating a lack of consensus with more negotiations to come in Montreal. Negotiations for the Post-2020 Global Biodiversity Framework have not been smooth, with few targets being agreed upon to date. Nature-based solutions comprise over one-third of our most cost-effective solutions to climate catastrophe – reducing flood risk and watershed protection, improving crop yields and forest products, and potentially sequestering up to 1.7 gigatons of carbon dioxide equivalent annually. Nature is humanity’s most powerful asset to achieve a sustainable, thriving, flourishing future. Along with climate change, biodiversity loss is now a profound threat facing humanity. Nature has declined more extensively over the past 50 years than at any other time in human history. Loss of ecosystem services could depress annual global GDP by up to $2.7 trillion by 2030, with a greater impact in low-income and lower middle-income countries. Nature loss poses a grave risk to the global economy and societies. The strategy for the next decade called the ‘Post-2020 Global Biodiversity Framework’ and its targets need to put the world back on track towards the CBD’s 2050 Vision of a world of “Living in harmony with nature” where, by 2050, biodiversity is valued, conserved, restored and wisely used, maintaining ecosystem services, sustaining a healthy planet and delivering benefits essential for all people.We are far from achieving this vision. This COP has a particularly daunting task: To make up for the previous decade of missed targets and to agree on a new framework and targets to be reached by 2030. Nations from around the world will meet in December in Montreal, Canada, for part two of the CBD COP15 – the 15th Meeting of the Parties of the Convention of Biological Diversity. By Tracey Cumming, Senior Technical Advisor, BIOFIN ![]()
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