- $12 Billion Commitment: Global pledges include $10 billion from the Arab Coordination Group and $1 billion each from OPEC Fund and Islamic Development Bank (IsDB).
- Critical Funding Gap: Annual investments of $355 billion are needed, but current commitments fall short by $278 billion.
- High Returns Potential: Restoring over 1 billion hectares of land could yield up to $1.8 trillion annually.
The 16th Conference of the Parties (COP16) to the UN Convention to Combat Desertification (UNCCD), held for the first time in Riyadh, brought in $12 billion in pledges to address global challenges of land degradation, desertification, and drought. The event, themed “Our Land, Our Future,” highlighted urgent action needed to restore degraded lands and support vulnerable communities.
Major Commitments
The Arab Coordination Group announced a $10 billion investment by 2030 to tackle these pressing issues. OPEC Fund and IsDB each pledged $1 billion, alongside $150 million from Saudi Arabia.
“Through land restoration, combating desertification, and addressing drought, we aim to enhance resilience in the world’s most vulnerable communities,” said Muhammad Sulaiman Al Jasser, President of IsDB and head of the Arab Coordination Group.
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Funding Gap Highlights Challenges
UNCCD reports indicate an annual investment requirement of $355 billion from 2025 to 2030, yet current pledges fall significantly short. The private sector’s contributions, representing just 6% of required funding, underscore the need for greater engagement.
High Economic Returns
Despite the funding challenges, the potential for returns is significant. Reclaiming over 1 billion hectares of degraded land could generate economic benefits of up to $1.8 trillion annually, emphasizing the financial viability of land restoration investments.
COP16 reinforced the importance of collective global action to address land degradation and drought, setting the stage for future efforts to close the funding gap and maximize land restoration opportunities.
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