Rich nations must pay $60bn to save environment in poor countries – groups

Environmental groups have demanded that rich nations should pay $60 billion (Sh6.83 trillion) to help restore biodiversity in poor countries.

The recommended $60 billion figure was released during the ongoing United Nations Environment Assembly in Nairobi.

The groups specifically said the targeted nations are members of the European Union, the UK, Japan, Canada and other wealthy countries.

Research shows that 30 per cent of global threats to biodiversity are generated by international trade, particularly trade in commodities produced in developing countries for use in developed countries.  

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, the groups said, would help address the disproportionate impact of wealthy country consumption habits on biodiversity. 

“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,” said Dr Bruno Oberle, director general of the International Union for Conservation of Nature.

“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.”

Wealthy countries—including the EU countries, the UK, France and Canada—and philanthropists have recently announced increased funding for biodiversity.

But the environmental groups said this must be increased to reach the $60 billion target. 

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.

“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,” James Roth from Conservation International said.

The groups that made the joint call 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.

They spoke as the UN Environment Assembly comes to a close in Nairobi.

UNEA meets biennially to set priorities for global environmental policies and develop international environmental law; decisions and resolutions then taken by Member States at the Assembly also define the work of UNEP.

Edited by A.N