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UNCCD COP17 ends with $1.3 billion drought resilience plan
The 17th session of the United Nations Convention to Combat Desertification (UNCCD) concluded in Ulaanbaatar, Mongolia, on Friday, unveiling a new global framework for drought resilience. The 12-day conference announced $1.3 billion…
The 17th session of the United Nations Convention to Combat Desertification (UNCCD) concluded in Ulaanbaatar, Mongolia, on Friday, unveiling a new global framework for drought resilience. The 12-day conference announced $1.3 billion in new and pipeline finance for land restoration and drought resilience in vulnerable countries.
Key initiatives include the world's first Drought Resilience Index (DRI) and the Drought Resilience Investment Facility (DRIF). The DRI uses AI-powered monitoring to help countries assess drought preparedness and shape policies. The DRIF, launched by UNCCD and Luxembourg, aims to mobilise up to $400 million in public and private capital for projects in water security, sustainable agriculture and land restoration.
Union environment minister Bhupender Yadav led India's delegation at the talks. Up to 40 percent of global land is degraded, and countries have committed to restoring over one billion hectares by 2030, including 26 million hectares by India.
Indian Opinion Analysis
India has pledged to restore 26 million hectares of degraded land by 2030 under the UNCCD framework, a target set in 2019. The new Drought Resilience Index could help states like Rajasthan and Maharashtra benchmark their preparedness and attract private capital for watershed projects. The DRIF facility uses public funds to de-risk investments, a model similar to blended finance structures the World Bank has tested in Africa. Next steps include individual countries signing up for the DRI pilot programme and submitting bankable projects to the DRIF pipeline.
Source: timesofindia.indiatimes.com
This brief was synthesised by AI from the source linked above.
