Thomas, R., Davies, J., King, C., Kruse, J., Schauer, M., Bisom, N., Tsegai, D., Madani, K., 2024. Economics of Drought: Investing in Nature-Based Solutions for Drought Resilience – Proaction Pays. A joint report by UNCCD, ELD Initiative and UNU-INWEH, Bonn, Germany; Toronto, Canada.
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Drought is one of the costliest and most pressing threatsto societies and economies affecting every continent around the globe and particularly drylands. Already today,droughts affect over 1.8 billion people annually hitting especially women and children and the world’s poorestand most vulnerable people. The use of nature-based solutions (NbS) to address drought and challenges suchas climate change and loss of biodiversity is gaining traction. NbS involve restoring and conserving nature toaddress societal challenges and play a critical role in building drought resilience: to prepare, respond and recover, toincrease resilience and reduce vulnerability and exposure.
This report makes the economic case for nature-basedsolutions as part of a proactive approach to drought management. It presents evidence for NbS costs and benefits to show that proaction pays and elaborates transformational pathways to mobilize both public and private investment, strengthen necessary enabling environments and create scalable business cases for NbS to drought. The report supports UNCCD Decision 23/COP15 to examine and identify the financing needs and opportunities for drought risk reduction and resilience-building activities, including partnerships with the private sector.
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Suggested citation: "Economics of drought: Investing in nature-based solutions for drought resilience – proaction pays," United Nations University, UNU-INWEH, 2024-12-03, https://unu.edu/inweh/article/economics-drought-investing-nature-based-solutions-drought-resilience-proaction-pays.