Smarter News Now
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting
No Result
View All Result
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
No Result
View All Result
Smarter News Now
No Result
View All Result
Home Investing News

New global fund invests in nature to shore up climate change fight

by
June 2, 2022
in Investing News
0
New global fund invests in nature to shore up climate change fight
0
SHARES
14
VIEWS
Share on FacebookShare on Twitter

KUALA LUMPUR — A new international fund backed by wealthy nations aims to invest at least $500 million in protecting nature in developing countries and giving indigenous people a bigger role in conserving their environment and tackling climate change.

The Climate Investment Funds (CIF), one of the world’s largest multilateral climate financing instruments, launched its “Nature, People, and Climate” (NPC) program on Wednesday at a major United Nations (UN) environment conference in Stockholm.

Backed so far by Italy and Sweden, and with a target of raising $500 million by November, the NPC will provide finance and expertise to initiatives that conserve wildlife, plants and forests, promote sustainable agriculture and food supplies, and enable people to cope with rising seas and extreme weather.

“Nature-based solutions help reduce emissions, support communities adapting to a changing climate and protect biodiversity,” Matilda Ernkrans, Sweden’s international development minister, said in a statement.

Improving conservation and management of natural areas, such as parks, oceans, forests and wildernesses, is seen as crucial to safeguarding the ecosystems on which humans depend and to limiting global warming to internationally agreed targets.

But forests are still being cut down — often to produce commodities such as palm oil, soy and beef — destroying biodiversity and threatening climate goals, as trees absorb about a third of planet-warming emissions produced worldwide.

The new NPC program expects to invest in efforts to expand approaches like carbon storage, mangrove restoration,

 and climate resilience in small island developing states, sub-Saharan Africa and forested countries around the globe

They are among the places hit hardest by the impacts of the coronavirus disease 2019 (COVID-19) pandemic and rising food and energy prices fueled by the Ukraine war, said Paul Hartman, a senior environmental specialist at the CIF.

“Many of these shocks that you see globally to food systems have an impact on countries’ economies but particularly on (the) economies of the farmers and livelihoods of people,” he told the Thomson Reuters Foundation.

Global annual spending to protect and restore nature on land needs to triple this decade to about $350 billion by 2030, a UN report said last year.

Boosting finance for developing nations to better protect their nature-rich ecosystems is a longstanding challenge.

Earlier this year, international green groups called on the world’s richest nations to provide at least $60 billion a year to protect and restore biodiversity in developing countries.

The NPC platform aims to invest in nature projects that are part of larger, national investment plans, also involving multilateral development banks, with the aim of raising more finance from the private sector and other sources, said Hartman.

In addition, the NPC aims to partner with indigenous groups and communities living in and around protected areas, who experts say play a vital role in conservation.

“This is more than just about working with them — it’s about putting them in positions of being the decision-makers,” Mr. Hartman said.

“It’s not just about involving them, it’s about them being at the table and making decisions and using their knowledge.” — Michael Taylor/Thomson Reuters Foundation

ShareTweetPin

Related Posts

Stocks decline on profit taking, recession fears
Investing News

Stocks decline on profit taking, recession fears

August 23, 2022
Peso climbs vs dollar as RTB offer starts
Investing News

Peso climbs vs dollar as RTB offer starts

August 23, 2022
PNR cancels bids for 3 projects after finding them ‘non-feasible’
Investing News

PNR cancels bids for 3 projects after finding them ‘non-feasible’

August 23, 2022
Senate grills Rodriguez on approval procedures for sugar import order
Investing News

Senate grills Rodriguez on approval procedures for sugar import order

August 23, 2022
Trade dep’t expecting sugar price monitoring report by Friday
Investing News

Trade dep’t expecting sugar price monitoring report by Friday

August 23, 2022
Fisherfolk seek halt to reclamation on municipal fisheries
Investing News

Fisherfolk seek halt to reclamation on municipal fisheries

August 23, 2022
Next Post
Elon Musk tells Tesla staff: return to office or leave

Elon Musk tells Tesla staff: return to office or leave

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Email Address *
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
 

Recommended

Rail bosses hope offering redundancy compromise will end RMT strikes

Rail bosses hope offering redundancy compromise will end RMT strikes

June 24, 2022
A good visual novel

A good visual novel

July 21, 2022
SuperWorld sees opportunities for virtual real estate in PHL

SuperWorld sees opportunities for virtual real estate in PHL

June 29, 2022
US says Beijing’s South China Sea ‘provocations’ risk major incident

US says Beijing’s South China Sea ‘provocations’ risk major incident

July 27, 2022
Duterte’s health chief stands by controversial pandemic fund transfer

Duterte’s health chief stands by controversial pandemic fund transfer

June 6, 2022
NBA investigates 76ers for possible free-agent tampering

NBA investigates 76ers for possible free-agent tampering

July 31, 2022
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting

Copyright © 2022 SmarterNewsNow.
All Rights Reserved.

Disclaimer: SmarterNewsNow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

No Result
View All Result
  • About Us
  • Contact Us
  • Email Whitelisting
  • Home
  • Privacy Policy
  • Terms & Conditions
  • Thank You

Copyright © 2020 SmarterNewsNow. All Rights Reserved.