Financial Support for Nature Protection Is Insufficient

At the COP17 Leaders’ Summit on biodiversity held in Yerevan, UN Secretary-General António Guterres drew attention to key issues related to environmental protection and the need to increase ecological investment.

As noted in his speech, for every $1 currently allocated to protecting nature, $30 is spent on activities that damage and degrade natural resources.

In 2023 alone, $7.3 trillion was directed toward environmentally harmful sectors such as heavy industry, agribusiness, and hydrocarbon extraction.

Around $1 trillion per year is needed to achieve global biodiversity conservation goals, which is equal to only about 1% of global gross domestic product (GDP).

Since 2010, the cost of solar panels has fallen by 90%, while battery prices have dropped by 95%. As a result, investment in green energy is growing twice as fast as investment in the oil and gas sector.

However, the benefits of clean energy are not distributed equally around the world. The UN chief said that international financial institutions should help developing countries in this area.

The Secretary-General also recalled that 76 days remained until the end of his term and said that combating the climate crisis and protecting biodiversity remain among his main goals for future generations.