COP17 secures $1.3 billion for land restoration, prioritizing rangelands

Governments, development banks, and businesses at the 17th Conference of the Parties to the UN Convention to Combat Desertification (UNCCD COP17) have pledged $1.3 billion in new and pipeline financing for land restoration and drought resilience efforts. The announcement, made in Ulaanbaatar, Mongolia, will support projects in 23 countries across five continents.

This significant financial commitment places rangelands at the forefront of global conservation efforts. Mongolia, hosting COP17, has championed the cause of these vital ecosystems, which cover vast areas of its landscape and support millions of pastoralists globally. The UNCCD highlighted that $644.5 million of the total is new finance, with an additional $216.4 million already confirmed for implementation.

The funding announcement comes amid a recognized substantial gap in financing needed to meet global land restoration goals. The UNCCD estimates an annual requirement of $355 billion through 2030, far exceeding the current investment of approximately $77 billion. Nigeria, represented at the conference, is among nations pushing for a legally binding instrument on drought management to secure more financial support for national adaptation plans.

A major component of the new financing is the Rangelands Flagship Initiative, valued at $1.2 billion across 45 projects. Launched during the UN International Year of Rangelands and Pastoralists, it marks the largest mobilization for rangelands in UNCCD history. Rangelands, covering over half the Earth's land surface and supporting two billion people, are increasingly degraded, threatening food security, biodiversity, and resilience to drought.