International efforts to meet targets to stem the loss of wildlife and habitats are failing miserably, according to a UN report.
The Global Biodiversity Outlook 4, published as nearly 200 countries meet on Monday in South Korea in a bid to tackle biodiversity loss, paints a damning picture of governments’ efforts to meet a set of targets agreed in 2010 to slow the destruction of species’ habitats, cut pollution and stop overfishing by the end of the decade.
Humans risk causing irreversible and widespread damage to the planet unless there’s faster action to limit the fossil fuel emissions blamed for climate change, according to a leaked draft United Nations report.
The panel also acknowledged there are costs associated with keeping the temperature rise since industrialization below the 2-degree target. That’s the level endorsed by the nations negotiating on a climate deal. Doing so may lead to losses in global consumption of 1.7 percent in 2030, 3.4 percent in 2050 and 4.8 percent in 2100, according to the paper.
It’s time to choose between short-term economic growth or long-term sustainability.
The Green Climate fund set up as a result of United Nations climate-treaty talks to help finance projects that reduce emissions in poorer nations agreed on a set of rules, paving the way for initial capital to be raised.
The design of the fund, how it will raise funds and spend them, was completed at a meeting in Songdo, South Korea, today, the UN Framework Convention on Climate Change, which stewards the UN talks, said today in an e-mailed statement.