Investments into protecting and better managing the world's ecosystems need to reach $384 billion a year by 2025, more than double their current levels, to guard against the threats of climate change and loss of natural resources, the U.N.'s environment watchdog said on Thursday.
starting next week in Montreal, Canada, where countries will try to agree on a deal to protect nature and wildlife from further losses and degradation of species and landscapes.
"This will have to increase by several orders of magnitude if we are to tackle the triple crisis of land degradation, climate and nature," said Ivo Mulder, head of UNEP's climate finance unit. Meanwhile, governments are spending $500 billion-$1 trillion a year on potentially damaging subsidies to fisheries, agriculture and fossil fuels, the report found.
This year's meeting was due to take place in Kunming, but the venue was changed because of its zero-COVID curbs. China will continue to serve as president.
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