Dec 17, 2024 01:43 PM IST
This paper is authored by Gopalika Arora, ORF, New Delhi.
Nature-based solutions (NbS) harness the benefits of nature to address the climate crisis, biodiversity loss, and land degradation while creating pathways for sustainable development. While NbS could generate substantial economic benefits, current private finance flows remain insufficient due to market and information failures. This brief makes a case for increased private investments in NbS, highlighting their cost-effectiveness and sustainability. Implementing comprehensive reforms in data sharing, financial mechanisms, and capacity building is crucial for unlocking large-scale NbS financing.
The impacts of the climate crisis are becoming increasingly evident, and societies are facing massive threats from rising temperatures, erratic rainfall patterns, and frequent extreme weather events. Additionally, natural resources are deteriorating at an alarming rate, and human-induced biodiversity loss is escalating. Approximately 40% of the planet’s land is already degraded, and more than half of the world’s Gross Domestic Product (GDP) of approximately $44 trillion is at immediate risk due to nature loss. By 2030, this loss of natural capital could reduce global GDP by 2.3% annually (to $2.7 trillion), with poorer countries bearing the brunt of this decline due to their low adaptive capacity, dependence on climate-sensitive sectors, and already fragile ecosystems. These issues are exacerbated by the impact of changing weather patterns on natural ecosystems.
This paper can be accessed here.
This paper is authored by Gopalika Arora, ORF, New Delhi.
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