Biodiversity Conference: Droughts causing damage of 300 billion euros per year on Earth

By: Trademagazin Date: 2024. 12. 04. 12:19

Global droughts are causing an estimated €300 billion (HUF 124 trillion) in annual damages, according to a UN report presented on the second day of the 16th Biodiversity Conference (COP16) in Riyadh, Saudi Arabia. The impact of desertification and droughts extends beyond environmental damage, significantly affecting global economies and quality of life.

Urgent Actions Needed

The report highlights the need for substantial investments by 2050 to mitigate the effects of droughts. Key recommendations include:

Reforestation: Forests play a crucial role in carbon sequestration and in preserving soil and water resources.
Improved Soil and Water Management: Enhancing soil quality and optimizing water usage is essential for sustainable agriculture.
Agricultural Advancements: More efficient farming methods can reduce losses and increase agricultural revenues, alleviating the impacts of climate change.

The measures proposed in the report would affect three-quarters of the global population, directly contributing to improved living conditions worldwide.

2024 Could Be the Hottest Year on Record

UN experts suggest that 2024 may become the hottest year in recorded history, accompanied by unprecedented droughts in regions such as the Mediterranean, Morocco, Namibia, Malawi, Ecuador, and Brazil. These conditions have led to wildfires, water shortages, and food insecurity, further straining affected communities.

Severe Economic and Social Consequences

Kaveh Madani, director of the UN University’s Water, Environment, and Health Institute, warned that droughts not only disrupt food supply chains and ecosystems but also jeopardize national GDP and economic stability. Over time, these damages could result in:

Rising unemployment,
Worsening hunger,
Increased migration.

Leaders Must Act

Andrea Meza, the UN-appointed organizer of the COP16 under the Convention to Combat Desertification, emphasized that understanding the scale of drought-induced losses is not enough. World leaders must implement preventative measures that prioritize nature conservation while supporting sustainable human development.

Combating drought requires global collaboration and significant investments. The UN’s COP16 report underscores the urgency of addressing climate change impacts. Reforestation, sustainable farming, and efficient water usage are vital to securing future generations’ living conditions. Time is of the essence, and global leaders must act now to prevent further devastation.