Economics of Drought: Investing in nature-based solutions for drought resilience – Proaction pays
About the project
Drought, a relentless threat to our environment, lives, and economies, is a crisis that cannot be ignored. Major drought events in the past century have claimed the lives of over 10 million people and caused hundreds of billions of USD ($) in economic losses worldwide. Still, the costs of increased drought are greatly underestimated, leading to inadequate drought preparedness. Despite the clear and present danger, proactive drought management approaches are often lacking, and reactive approaches remain the norm.
“Major drought events in the past century have claimed the lives of over 10 million people and caused hundreds of billions of USD ($) in economic losses worldwide.”
Published by the UNCCD, ELD Initiative, and UNU-INWEH, the economics of drought report provides vital insights into the economics of drought resilience.
As droughts fueled by human environmental destruction are projected to affect three in four people by 2050, investing in sustainable land and water management is essential to reduce their costs, which already exceed $307 billion per year globally.
Drawing on a wealth of evidence and case studies from various countries, this report makes the economic and business case for nature-based solutions to drought — practices that restore ecosystem functions and soil health to enhance water cycling, storage, and supply in support of human wellbeing (e.g. reforestation, grazing management, and the management, restoration and conservation of watersheds).
Case study countries are:
- Australia (implemented by Mulloon Institute)
- Chile (implemented by Corporación Nacional Forestal)
- India (implemented by WOTR – Watershed Organization Trust)
- Burkina Faso (implemented by CIFOR-ICRAF)
- Spain (implemented by Commonland)
- Tunisia (implemented by Deutsche Gesellschaft für Internationale Zusammenarbeit, giz)
The final report was launched at UNCCD COP16 in 2024, aiming to inform discussions and negotiations of stakeholders and contributing to creating high-level momentum for the global agenda on drought resilience.
Read the report here: Economics of drought – Investing in nature-based solutions for drought resilience – Proaction pays
Read the executive summary here: Economics of drought – Investing in nature-based solutions for drought resilience – Proaction pays