MEDIA STATEMENT
Major Environmental Groups Call on Rich Nations to Provide at Least $60 Billion Annually to Address Biodiversity Loss in Developing World
Science-based figure is critical for stemming the tide of biodiversity loss
NAIROBI, KENYA—1 March 2022—Leading environment groups have agreed that the US, the countries of the European Union, the UK, Japan, Canada and other wealthy countries should support a target of at least $60 billion annually of international finance for biodiversity in developing countries. To stop biodiversity loss and achieve a nature-positive economy, this financing effort must be part of a broader and holistic package to close the biodiversity finance gap, including increased domestic and private finance for biodiversity and the elimination of public and private investments that are harmful to biodiversity.
The recommended $60 billion figure was released in advance of a major round of United Nations biodiversity negotiations set to take place in Geneva, Switzerland this month—an important moment on the road to the final biodiversity summit in Kunming, China later this year. In China, delegates from over 190 countries will agree on a global strategy to confront the biodiversity crisis—the post-2020 Global Biodiversity Framework (GBF). The biodiversity strategy is considered to be equally important to the fate of the planet as the 2015 Paris Climate Agreement.
Calculated in consultation with leading economists and based on a growing body of economic studies about the benefits of investing in nature protection, the $60 billion figure would help address the disproportionate impact of wealthy country consumption habits on biodiversity. Research shows that 30% of global threats to biodiversity are generated by international trade, particularly trade in commodities produced in developing countries for use in developed countries.
Wealthy countries—including the European Union countries, the UK, France and Canada—and philanthropists have announced increased funding for biodiversity in recent months, but the environmental groups are calling for increased ambition to reach the $60 billion target.
This amount is limited to international finance for biodiversity—funds sent to developing countries from developed countries—and does not include the funding that countries and private funders must spend to address biodiversity domestically. The overall need to address the biodiversity crisis is estimated to be $844 billion annually, which is $711 billion more than is currently being spent. Less than $10 billion of current spending is international biodiversity finance.
The organizations argue that the urgently-needed increase in international finance must be part of a broader holistic effort to close the global financing gap, including aligning public and private financial flows to a nature-positive economy, eliminating harmful incentives, including subsidies, while creating positive ones, increasing domestic funding for biodiversity in developed and developing countries and increasing the effectiveness and efficiency of existing resources. In addition, the finance sector is a critical lever for the transformation to a nature-positive world with several financial institutions already calling for regulations to measure, assess and disclose their dependencies and impacts on biodiversity.
Scientists have urged that ending the biodiversity crisis is as important to the future of humanity as stopping global warming. A seminal 2019 scientific study found that one million animal and plant species could go extinct within the next decades. Safeguarding these species and their habitats as well as ensuring the critical benefits nature provides humanity will require dedicated finance—with equitable access by developing countries as well as Indigenous Peoples and local communities.
The organizations standing behind this call for finance include: BirdLife International, Conservation International, Campaign for Nature, the International Union for Conservation of Nature, Natural Resources Defense Council, The Nature Conservancy, Rainforest Trust, Wildlife Conservation Society, WWF and World Resources Institute.
Quotes
Patricia Zurita, Chief Executive Officer of BirdLife International, said:
“Ending the biodiversity crisis is as important to the future of humanity as stopping climate change. To stop biodiversity loss and achieve a nature-positive economy, we must close the biodiversity funding gap. The post-2020 Global Biodiversity Framework, set to be agreed at the Kunming COP by over 190 countries this year, is equally important to the fate of the planet as the 2015 Paris Climate Agreement. Wealthy countries should support a target of at least $60 billion annually of international finance for biodiversity in developing countries. This financing effort needs to be part of a broader and holistic package and include eliminating harmful incentives, including subsidies, and other creative financial mechanisms and tools.”
Brian O’Donnell, Director of Campaign for Nature, said:
“Wealthy nations must agree to a viable path to direct at least $60 billion in public funding to developing nations to prevent extinctions, safeguard clean water and maintain the healthy natural systems on which communities rely. Wealthy nations are driving much of the loss of nature in developing countries through imported goods and have a responsibility to address this impact. Economically-rich nations must financially support nature-rich nations to secure a safe future for all life on earth.”
James Roth, Senior Vice President Global Policy and Government Affairs at Conservation International, said:
“The recent climate talks in Glasgow brought new commitments and funding for climate action, with a strong focus on the role of nature as a solution. As the world prepares to meet in Kunming, we must raise our ambition once again for both action and funding for biodiversity. This funding is an investment in the future we all want – and will help address the many challenges facing the planet, including climate change mitigation and adaptation, pandemic prevention, and the conservation of the nature we all need for food and fresh water. The time to act is now – there is not a moment to waste.”
Dr. Bruno Oberle, Director General of the International Union for Conservation of Nature (IUCN), said:
“The consumption of resources in the developed world is a main driver of biodiversity loss, but its consequences are borne mostly by communities in developing countries who live in biodiversity hotspots. Providing local and indigenous communities with the necessary means to conserve nature is not only a moral obligation, but also a sound investment that will generate high returns for all of us.”
Marco Lambertini, Director General of WWF International, said:
“Unsustainable production and consumption, particularly of food, continue to drive biodiversity loss across the globe. To move towards a nature-positive economy, we need to spend more directly on biodiversity conservation and end pressure on nature from harmful financial flows and subsidies. We are finally beginning to understand that this is not only essential for nature: it will safeguard humanity, help prevent pandemics and create essential new jobs. With the Global Biodiversity Framework being negotiated ahead of the COP15 summit this year, wealthy countries have a moral responsibility to support a target of at least $60 billion of international finance for nature annually in Asia, Africa, Latin America, as a part of a necessary comprehensive resource mobilization strategy. This is vital if we are to reverse nature loss.”
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The Campaign for Nature works with scientists, Indigenous Peoples, and a growing coalition of over 100 conservation organizations around the world who are calling on policymakers to commit to clear and ambitious targets to be agreed upon at the 15th Conference of the Parties to the Convention on Biological Diversity in Kunming, China in 2021 to protect at least 30% of the planet by 2030 and working with Indigenous leaders to ensure full respect for Indigenous rights.
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