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What is the news?
The World Economic Forum (WEF) has released a report titled “BiodiverCities by 2030: Transforming cities’ relationship with nature”.
What is the “BiodiverCities by 2030: Transforming cities relationship with nature” Report?
The report is a key output of the BiodiverCities by 2030 initiative
| Note: BiodiverCities by 2030 initiative is led jointly by the World Economic Forum and the Alexander von Humboldt Biological Resources Research Institute and championed by the Government of Colombia. The initiative aims to support city governments, businesses and citizens, to make choices that enable cities to live in harmony with nature by 2030. |
What are the key findings of the report?
Cities contribute nearly 80% to the global economy, but they also account for nearly three-fourths of greenhouse gas emissions.
Impact of Nature Loss: Around 44% of global GDP in cities ($31 trillion) is estimated to be at risk of disruption from nature loss. More than 1.4 billion people living in the world’s largest urban centres are threatened by natural hazards.
Solution to overcome from Nature Loss: Investing in ‘Nature-positive’ investments – such as Nature-based Solutions for infrastructure or returning land to nature can enhance nature. It can also secure significant economic benefits as cities become more resilient, liveable and competitive.
What are the three steps that will enable cities to live in harmony with nature?
Firstly, cities must embrace a ‘systems approach’ to urban governance that considers the needs of all stakeholders and accounts for the value of natural ecosystems.
Secondly, cities must reintegrate nature into their planning decisions. This means preserving natural habitats within and around cities, renaturing degraded land (through, for example, community-based tree planting) and ‘growing smart’ by embedding nature in new or upgraded infrastructure such as green corridors along high streets and green roofs on new buildings.
Thirdly, action is needed to make nature an attractive investment to financial markets and drive private funding into cities’ natural capital.
Source: This post is based on the article ‘BiodiverCities by 2030: Transforming cities relationship with nature’ published in World Economic Forum on 19th January 2022.
