Discussions at the 2022 Bonn Climate Change Conference (SB56) illustrate that climate-aligned food-related finance is becoming a priority for local communities, national governments, and international cooperation.
The IPCC is now in its sixth assessment cycle, in which the IPCC is producing the Sixth Assessment Report (AR6) with contributions by its three Working Groups and a Synthesis Report, three Special Reports, and a refinement to its latest Methodology Report, presenting the most advanced and recent knowledge on global warming and climate change while highlighting the responsibility of humans in the latter. The most recent IPCC report 2022 warned that the world is set to reach the 1.5ºC level within the next two decades and said that only the most drastic cuts in carbon emissions from now would help prevent an environmental disaster.
The State of Finance for Nature in the G20 report attempts to capture the complete amount and future need for G20 country spending on nature-based solutions assets and activities. It reveals that current G20 investments in nature-based solutions are insufficient, at USD 120 billion/year, and G20 Official Development Assistance and private sector investments are small when compared with domestic government spending. It builds on the global report ‘State of Finance for Nature – Tripling Investments in Nature-Based Solutions by 2030’ released in 2021, which calls for closing a USD 4.1 trillion financing gap in nature-based solutions.
The IPCC Special Report on Climate Change and Land found that consumption of food, feed, fibre, timber and energy have caused unprecedented rates of land and freshwater use, with soil erosion from agriculture up to 100 times higher than the soil formation rate, increasing net GHG emissions and loss of natural ecosystems and biodiversity.