RIYADH, Dec. 3 (Xinhua) -- At least 2.6 trillion U.S. dollars are required by 2030 to restore over 1 billion hectares of degraded land and enhance global resilience to drought, according to a report released Tuesday by the United Nations Convention to Combat Desertification (UNCCD).
The report, titled Investing in Land's Future: Financial Needs Assessment for UNCCD, highlights that 355 billion per year is needed to combat desertification and land degradation between 2025 and 2030. However, the required investment is still falling short by 278 billion each year.
Launched during the ongoing 16th Conference of the Parties (COP16) to UNCCD, the report emphasizes that financing for land restoration is increasing, but major deficits remain, especially in Africa, where 191 billion dollars annually are required to restore 600 million hectares of degraded land.
The UNCCD estimates that up to 40 percent of the world's land is degraded, impacting over 3.2 billion people. Without swift financial intervention, the socio-economic consequences of land degradation could escalate, leading to instability and forced migration.
The report warns that by 2050, crop yields in some regions could drop by as much as 50 percent, driving food prices up by 30 percent and exacerbating food insecurity, particularly in vulnerable areas.
Investing in land restoration, however, offers significant returns, generating up to 8 dollars in social, environmental, and economic benefits for every dollar spent, it notes.
"Every dollar invested in healthy land is a dollar invested in biodiversity, climate, and food security. The good news is that the world could save billions annually and earn trillions more by restoring land back to health and building resilience to drought," said UNCCD Executive Secretary Ibrahim Thiaw. ■