Thomson Reuters
September 22, 2021
A group of private donors pledged a record $5 billion to help safeguard the planet's plants, animals and ecosystems at an event during the United Nations General Assembly on Wednesday.
The nine charitable funders, which include the Bezos Earth Fund, Bloomberg Philanthropies and the Rainforest Trust, launched the decade-long "Protecting Our Planet Challenge" to help finance larger and better-managed natural areas worldwide.
"Halting and reversing biodiversity loss and climate change requires expanded protected and conserved areas, especially in tropical forests," said James Deutsch, CEO of the Rainforest Trust, which contributed $500 million to the pot.
"Developing nations and indigenous peoples need financing to achieve this, which is why we are pledging to more than double our level of funding between now and 2030, and (are) urging other private and public funders to do the same," he added in a statement.
The Finance for Biodiversity Pledge also said on Wednesday that 75 financial institutions - worth a combined 12 trillion euros ($14 trillion) in assets - have committed to protecting and restoring biodiversity through their investments.