We must achieve SDG 14 to address the triple planetary crisis and underpin economic growth, yet, it is among the least funded SDGs by both Official Development Assistance and philanthropic development
The State of Finance for Nature 2022 report highlights the significant underfunding of nature-based solutions (NbS). To address biodiversity loss, limit climate change, and achieve land degradation neutrality by 2030, NbS financing must double by 2025 and triple by 2030. However, marine NbS receives only 9% of total NbS investment.
Reports indicate the need for $175 billion annually to reach SDG14 by 2030, yet, from 2015 to 2019, less than
$10 billion was invested (WEF, 2022). Marine protected areas receive just $980 million yearly, while terrestrial ones get nearly $23 billion. Bridging the finance gap for marine protection is crucial for ocean species, tourism, trade, food security, and livelihoods.
The Global Biodiversity Framework aims to secure financial resources, particularly for underdeveloped nations, small island states, and economies in transition, closing the $700 billion biodiversity finance gap.
