13 Jan The UK announces funding from climate finance to support nature and biodiversity
The UK has announced they will allocate over £3 billion of international climate finance towards nature and biodiversity over the next five years. The PM explained that the funding would be for the protection and restoration of nature and biodiversity.
The funding will come from the UK’s existing commitment of £11.6 billion for international climate finance and used to generate significant changes in protecting biodiversity-rich landscapes, transforming food production and supporting the lives of people in some of the most deprived areas. Funding will go towards several projects including the flagship Blue Planet Fund for marine conservations, specific projects to protect forests and maintain illegal time trade and other initiatives focusing on habitat conservation.
The PM will announce plans at the One Planet Summit, with a targeted speech on Financing for Biodiversity, urging others to raise their plans for funding for nature, and securing finance for sustainable solutions to climate change.
The UK is accelerating its plans towards delivering clean energy solutions. The latest announcement addresses two of the largest sources of global emissions; electricity generation and land use. The new measures will emphasise the UK’s goals in tackling climate change before the COP26 summit later this year.
PM Boris Johnson explained before the One Planet Summit that achieving our goals on climate change goals, sustainable development or preventing pandemics will not be possible if we fail to address and care for our natural world. In his speech, Mr Johnson emphasised that we need to work together as a global force to accelerate change and investment required to protect our planet and its diverse life.
Current reports suggest that biodiversity is declining at a record rate. There has been a 68% reduction in populations of mammals, birds, fish, reptiles and amphibians over the last 40 years and approximately 1.3 million square kilometres of the forest was destroyed between 1990 and 2016. Protecting our nature and tackling climate change are very much interrelated. The rising temperatures and increase in pollution are causing further damage to our natural ecosystems. Our forests and ocean form a critical role in managing climate change. Agriculture, deforestation and land use accounts for 23% of greenhouse gas emissions worldwide. Studies suggest that our land, coastal and marine ecosystems could provide over 30% of the climate measures required to meet the targets set in the Paris Agreement.
COP President Alok Sharma explains that there have been bold commitments made worldwide in reaching net-zero, but targets require actions. Mr Sharma reiterates the need to preserve our nature and biodiversity and make a quicker transition from coal to clean energy.
The latest announcement on nature funding is the latest in several bold actions made by the Government to address the crisis. Near the end of last year, the UK PRM signed the Leaders Pledge for Nature at the UN General Assembly, a plan that has gained approval by 82 nations. In the next month, an independent review commissioned by the Government in 2019 referred to as the Dasgupta Review on the Economics of Biodiversity will be published. The report will focus on the economic case for biodiversity protection.