UN
(SDGTALKING) By Bunyamin Surmeli – UN Deputy Secretary-General Amina Mohammed stated that annual investment in land restoration falls far short of what is needed, noting that inaction costs the global economy at least $878 billion annually. According to the UN, every $1 invested in restoration can yield economic benefits ranging from $7 to $30.
As land loss and drought are becoming an increasingly serious environmental problem worldwide, the United Nations has released striking data on the economic dimension of the crisis.
Speaking at the UN Convention to Combat Desertification COP17 meeting in Ulaanbaatar, the capital of Mongolia, UN Deputy Secretary-General Amina Mohammed said that current investment levels fall far short of what is needed.
According to UN data, approximately $355 billion in investment is needed annually worldwide for land restoration. However, if current trends continue, annual investments are expected to remain at only around $77 billion.
In contrast, the economic cost of inaction is estimated to be at least $878 billion per year.
According to the UN’s assessment, land restoration could generate approximately $1.8 trillion in economic benefits annually.
It is estimated that every dollar invested in restoration could yield an economic return of between $7 and $30.
Noting that up to 40 percent of the world’s land is degraded, the UN states that the frequency and duration of droughts have increased by 29 percent since 2000.
If current trends continue, it is projected that three-quarters of the world’s population could face the effects of drought by 2050.
