World Environment Day – 5th June, 2024.
All over the world, ecosystems are threatened, this is why World Environment Day 2024 focuses on land restoration, halting desertification and building drought resilience under the slogan “Our land. Our future. We are #GenerationRestoration.”
Why Land Restoration:
- Globally, more than 2 billion hectares of land are degraded – an area nearly the size of India and Russia and every year estimated 12 million hectares of land are further lost to degradation.
- Climate change, Deforestation and Agriculture are major drivers of Land degradation.
- The disappearance of once-productive land affects 40% of global population with devastating effect on the least fortunate.
- It is also leads to crisis that is pushing 1 million species to extinction.
Economic Impact
- Land degradation could reduce global food productivity by 12%, causing food prices to soar by up to 30% by 2040.
- An estimated US$10 trillion in global GDP could be lost by 2050 if ecosystem services continue to decline.
Counter:
- Every dollar invested in ecosystem restoration—the process of halting & reversing degradation – results in up toUSD 30 in ecosystem services, & helps the world achieve sustainable development goals.
- Restoring 15%of converted land in the right places could avoid 60% of expected species extinctions.
- Urban areas are home to more than half of population and can play a huge role.
Encouraging progress:
- Countries are delivering on their vow to restore 1 billion hectares of degraded land and make similar commitments for marine and coastal areas.
- The Kunming-Montreal Global Biodiversity Framework, signed in 2022, includes a target that by 2030 at least 30% of degraded ecosystems are under effective restoration.
- Indigenous communities are the unsung heroes of conservation. 36 per cent of remaining intact forests are on Indigenous Peoples’ lands and on average, ecosystems managed by Indigenous people tend to be less degraded.
Acknowledgements:
RBI Bulletin (www.bulletin.rbi.org.in), SEBI (www.sebi.gov.in), NSE (www.nseindia.com), BSE (www.bseindia.com)
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