Post by sweetpea33 on Jan 22, 2024 23:08:25 GMT -5
New research finds that as little as 1.5 percent of all public international climate finance has gone to support nature-based solutions for adaptation in developing countries. Just a handful of major bilateral donors and multilateral institutions have driven public funding for these approaches. The first assessment of global funding for nature-based solutions for adaptation, produced by WRI and Climate Finance Advisors — in support of the Global Commission on Adaptation’s Nature-based Solutions Action Track — finds that while there is increasing awareness and interest of natural solutions for adaptation, this has not yet translated into adequate financial support for developing countries.
Bilateral and multilateral funding for these approaches is beginning to increase, but it’s not enough to meet the rising demand for nature-based solutions for adaptation. Public funding is also critical to mobilize much-needed private finance. WRI graphic In 2018, public donor finance for nature-based solutions for adaptation accounted for Email List approximately 0.6% of total climate finance flows and 1.5 percent of public climate finance flows. Courtesy of WRI Close Authorship The urgent need to fund nature-based solutions for adaptation As the Commission outlined in its Adapt Now report, nature-based solutions offer a "triple dividend."
This includes helping communities avoid losses from climate impacts by protecting against extreme weather events, saving countries billions of dollars each year. For example, restoring wetlands can absorb and filter flood waters and excessive rainfall, helping communities avoid asset loss and contamination. Nature-based solutions also generate economic gains through immediate job creation, increased business productivity and tourism. Compared to traditional infrastructure, these solutions often deliver higher economic returns, and are faster to implement and more sustainable in the long run.
Bilateral and multilateral funding for these approaches is beginning to increase, but it’s not enough to meet the rising demand for nature-based solutions for adaptation. Public funding is also critical to mobilize much-needed private finance. WRI graphic In 2018, public donor finance for nature-based solutions for adaptation accounted for Email List approximately 0.6% of total climate finance flows and 1.5 percent of public climate finance flows. Courtesy of WRI Close Authorship The urgent need to fund nature-based solutions for adaptation As the Commission outlined in its Adapt Now report, nature-based solutions offer a "triple dividend."
This includes helping communities avoid losses from climate impacts by protecting against extreme weather events, saving countries billions of dollars each year. For example, restoring wetlands can absorb and filter flood waters and excessive rainfall, helping communities avoid asset loss and contamination. Nature-based solutions also generate economic gains through immediate job creation, increased business productivity and tourism. Compared to traditional infrastructure, these solutions often deliver higher economic returns, and are faster to implement and more sustainable in the long run.