How Finance can Fund Technology to Boost Biodiversity
Finance that unlocks the technology required to boost biodiversity is therefore essential, says UBS in its new white paper ‘Bloom or Bust’, produced and discussed at the World Economic Forum’s Annual Meeting in Davos.
Switzerland’s largest bank, UBS examines global biodiversity loss, existing technology solutions, and the role that finance and government action must play.
UBS says that biodiversity and climate are linked to such an extent that failing on one means failing on both.
Biodiversity is also essential to the global economy, with UBS analysis showing around 60% of global GDP relies on nature. This means more interest from investors, corporates and governments in how to mobilise finance for these nature-based solutions.
“Biodiversity loss requires swift action,” says Sergio Ermotti, Group CEO of UBS.
“Collaboration between governments, industries, academia, and communities is critical to accelerate and scale the solutions needed to reduce biodiversity loss by 2030.”
Here is the tricky part – it will take an estimated US$700 billion to meet the 2030 goal – every single year. UBS says that can only be achieved by leveraging private capital through innovative approaches, to close this biodiversity investment gap.
The white paper also highlights the need for understanding the drivers and pace of biodiversity loss, and this will require significant investment in technologies including AI and remorse sensing via satellite.
