UN: 11 trillion dollars are needed to stop global warming

Governments and the private sector should invest at least $11 trillion (about €10.6 trillion) in ‘nature-based solutions’ up to 2050 to limit global temperature rise below 1.5 degrees, they said. alerted the United Nations this Thursday .

The United Nations Intergovernmental Panel on Climate Change (IPCC) identifies 1.5 degrees, above pre-industrial levels, as a tipping point beyond which the risk of events such as extreme drought, bushfires or floods.

Reducing greenhouse gas emissions will not be enough to stop global warming, according to the new edition of the “State of Finances for Nature” report, released today by the Nairobi-based United Nations Environment Program (UNEP), in collaboration with the Economics of Land Degradation (ELD) initiative.

“Nature-based solutions” – such as reforestation, the use of solar energy or sustainable agriculture – are measures or policies that protect ecosystems and improve their ability to halt biodiversity loss, reduce emissions and halt land degradation.

According to the report, investments in general in these types of measures are expected to more than double by 2025, from the current 154,000 million dollars a year (more than 148,500 million euros) to 384,000 million (about 370,000 million euros).

“As we move to net zero emissions by 2050, we must also redirect all human activities to relieve pressure on the natural world on which we all depend,” UNEP Executive Director Inger Andersen said in a statement.

Andersen has called on governments, businesses and the financial sector to “drastically” increase funding for nature-based solutions.

However, as governments are “unlikely” to increase their investments, which currently account for 83% of the global total and face challenges such as conflict, public debt or poverty, it must be the private sector that “significantly increases them”, above of the current 17 percent ($26,000 million or about €25,000 million annually), UNEP said.

“This is in stark contrast to the myriad deforestation-free and zero (emissions) commitments made by agribusinesses, banks and investors, which have resulted in little equity and little capital employed,” according to the report.

In this sense, warns the UNEP, marine ecosystems are particularly lacking in investments in this type of measure, collecting only 9% of the total financial flows, despite the fact that the ocean covers over 70% of the earth’s surface and absorbs about 25%. of carbon dioxide emissions.

In this scenario, public investments in negative measures for nature, such as subsidies for the fisheries, agriculture and fossil fuel sectors, are still between three and seven times higher than positive ones.

“Harmful” subsidies are particularly high in energy (up to $530,000 million a year or more than €511,000 million) and agriculture (about $500,000 million or €482,000 million).

The report is published a few days after the celebration in Montreal (Canada) between 7 and 19 December of the United Nations Conference on Biodiversity (COP15), with the assistance of thousands of delegates from all over the world, to negotiate a global agreement on biodiversity.

The summit will address controversial measures such as designating at least 30 percent of the planet’s land and ocean surface as protected areas or eliminating, or drastically reducing, those harmful incentives and subsidies.

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