"The world spends 30 times more money destroying nature than protecting it. That's according to a new report from the United Nations Environment Program (UNEP) that exposes a massive gulf between so-called "harmful investments" and financing that promotes nature preservation. The global environment agency's latest "State of Finance for Nature" (SNF) report is calling to phase out the US$7.3 trillion (6.2 trillion) in global investments that damage nature including into high-emissions energy infrastructure and manufacturing, for example."
"Based on 2023 data, the report shows that nature-positive investments reached $220 billion some 30 times less than harmful investments. The authors note that nearly half of the global economy significantly depends on nature, and yet governments, business and finance are eroding "our collective nature bank." "Without nature, the foundation of our economy collapses," states SNF, which notes that 73% of nature's wildlife populations have vanished since 1970, undermining vital ecosystem services such as pollination, clean water and soil fertility that ultimately support human economies."
UNEP identifies US$7.3 trillion in global investments that damage nature, with around two-thirds from private sources concentrated in utilities, industry, energy and materials. Public funds and subsidies into fossil fuels, agriculture, transport and construction also contribute to harm. Nature-positive investments reached only $220 billion in 2023, roughly thirty times less than harmful finance. Nearly half of the global economy depends on nature, while wildlife populations have fallen 73% since 1970, undermining pollination, clean water and soil fertility. Redirecting finance toward nature-based solutions is presented as essential for recovery and economic stability.
Read at www.dw.com
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