UNCCD COP17 announces $1.3 billion in financing for land restoration

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At the 17th Conference of the Parties to the United Nations Convention to Combat Desertification (UNCCD COP17) in Ulaanbaatar, stakeholders announced $1.3 billion in new and pipeline financing for land restoration and drought resilience across 23 countries. A primary component of this funding is the $1.2 billion Rangelands Flagship Initiative, which focuses on ecosystems that support two billion people globally. The announcement addressed a significant annual investment gap, as the UNCCD estimates $355 billion is required annually through 2030 to meet global land restoration commitments, far exceeding current investments of $77 billion. Participating organizations included the Global Environment Facility, the Asian Development Bank, and the Green Climate Fund.

Consequences

The influx of capital is expected to initiate 45 projects under the Rangelands Flagship Initiative to mitigate degradation that threatens food security and climate resilience. Furthermore, the commitment to these funds may facilitate progress on proposed legally binding international protocols for drought management, a priority for nations like Nigeria where rangeland degradation has been linked to long-standing farmer-herder conflicts.

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