According to a new report from the United Nations Environment Programme (UNEP), financial resources directed towards activities that harm ecosystems exceed investments in their protection by 30 times. This report is based on data from 2023.
The authors of the study report that the total amount of financial flows related to destructive activities is $7.3 trillion. Of this amount, $4.9 trillion represents private investments, which are mainly distributed across sectors such as energy, utilities, industry, and raw materials extraction.
Government subsidies for fossil fuel extraction, the use of harmful types of transport, as well as agricultural and water management methods that harm nature, account for another $2.4 trillion.
In 2023, only $220 billion was invested in solutions aimed at nature conservation, with nearly 90% of this amount coming from public sources.
UNEP emphasizes that to achieve sustainable development, investments in eco-friendly solutions need to be increased by at least 2.5 times, reaching $571 billion per year, which is only 0.5% of the global gross domestic product.
The report notes that redirecting money from the private and public sectors is a key tool for changes towards sustainable development. The authors of the report propose a concept that will help policymakers and businesses implement phased reforms and increase the number of environmentally safe solutions across various sectors of the economy.
This concept outlines a path towards gradually phasing out destructive subsidies and investments while simultaneously proposing to increase funding that supports nature. It contains specific recommendations for public and private companies at all levels of supply chains.
