EIB, WWF Championing Nature-Based Solutions Across Europe

10/30/2024 5:13:50 AM

(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 30. In a landmark agreement signed at the United Nations convention on Biodiversity (COP16) in Colombia, the European investment bank (EIB) and the World Wide Fund for Nature (WWF) have committed to a four-year partnership to advance Nature-based Solutions (NbS) across Europe, Trend reports via the EIB.

This collaboration, detailed in a Memorandum of Understanding, aims to address the interconnected crises of climate change and biodiversity loss by restoring ecosystems critical to sectors like agriculture, energy, and urban resilience, all while helping Europe, the world's fastest-warming continent, strengthen its climate adaptation efforts.

The initiative, a direct response to alarming biodiversity trends, will also work to reverse nature loss on the continent. The latest WWF Living Planet Report revealed a 35% decline in species populations in Europe and Central Asia since 1970, underscoring the urgent need for action.

A central component of the partnership is the establishment of an "Incubation Facility" by WWF, designed to develop a steady pipeline of NbS projects, from initial stages to investment-ready ventures. The EIB, in turn, will support this pipeline by offering expertise on securing both public and private financing.

The EIB and WWF have a longstanding history of collaboration on projects promoting biodiversity, climate resilience, and ecosystem restoration. Their joint work has included the creation of the Sustainable Blue Economy Finance Principles, as well as a recent partnership with WWF-Greece to identify and implement NbS for flood resilience in Thessaly, Greece. Through this renewed partnership, the EIB and WWF aim to set a benchmark for nature-centered climate adaptation across Europe, advancing sustainable finance while helping to protect and restore the continent's vital ecosystems.

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