environment
Spotlight on UN desertification summit as it mulls how to spend $12bn war chest
Extreme weather has raised the significance of Cop17 talks starting this week on tackling drought and land degradation
TL;DR
- Cop17 talks in Mongolia are focusing on tackling drought and land degradation, with over $12 billion pledged to vulnerable countries.
- The funds aim to operationalize past pledges and address food security concerns exacerbated by extreme weather events.
- The UN Convention to Combat Desertification (UNCCD) treaty, once overlooked, is now receiving increased attention and financial support.
- Saudi Arabia and the US are notable backers, with Saudi Arabia having hosted the previous Cop16 summit.
- Key initiatives include the Riyadh Global Drought Resilience Partnership, aiming to help 74 countries over seven years.
- While the $12 billion is a significant step, the UNCCD estimates $2.6 trillion is needed by 2030 to fully address land degradation.
- Projects may involve improving irrigation, planting drought-resistant crops, and enhancing rainwater storage.
- Efforts are underway to secure private sector funding in addition to the current public sector pledges.