Reuters
September 22, 2021
Philanthropists and investors committed $5 billion to nature restoration and conservation on Wednesday, a move environmental activists welcomed as the highest sum of private funding ever pledged.
The funding, pledged at an event on the sidelines of the United Nations General Assembly in New York, will focus on the "30by30" target, which aims to protect 30% of the planet's land and water over the next decade.
Scientists and conservationists say this is key to protecting biodiversity, which encompasses millions of species and natural processes in ecosystems such as rainforests and oceans, and is under threat from human-driven activities such as industrial agriculture, fishing, and greenhouse gas emissions.
Some $150 billion a year is currently pledged on conservation and so-called nature-positive initiatives that prevent degradation of nature but up to $1 trillion a year is needed to halt and reverse biodiversity loss, according to the Convention for Biodiversity, an intergovernmental U.N. agency that leads global biodiversity negotiations.