$100 billion needed a year for conservation
Updated: May 6, 2019
A new report says $100 billion is needed annually before 2030 to save biodiversity and reduce climate change.
Coinciding with Earth Day, a new report says that half of the land on the planet needs to be conserved by 2030 in order to prevent the world’s ecosystems from unravelling and to counter climate change. It’s called A Global Deal for Nature and the authors suggest an outline of how to reach this ambitious goal.
At present, several countries (excluding the U.S.) have already committed to protecting 17% of land and 10% of the oceans by 2020 under the Convention on Biological Diversity (CBD). Most countries, however, are not on target to meet these goals, but the report says countries should in fact double their protected zones to 30% of the Earth’s land area, and add 20% percent more as climate stabilization areas, for a total of 50% of all land kept in a natural state.
How can finance play a role? The study estimates it will cost $100 billion a year, but the international community currently spends just $4 billion to $10 billion per year on conservation. The authors suggest that in the sectors of fishing, forestry, agriculture, and insurance, that corporations may be able to align their financial returns directly to reaching these larger conservation targets.
A good overview of the Global Deal can be found here: https://www.leonardodicaprio.org/the-global-deal-for-nature/