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US$295 billion Needed in the Water Sector for Sufficient Climate Change Adaptation 

Dec 1st, 2017 |

Water Action Day at the COP 23 of the UN Climate Change Conference this month concluded that approximately US$295 billion would be needed for countries to take action on adaptation to climate change in the water sector – a tripling of current investment levels. Water Action Day speakers noted that most countries have prioritized water in their national climate plans, but financing is far from adequate. They anticipated that approximately 40% of the world’s population will face water shortages by 2050, lowering economic output and provoking migration and conflict, and they noted that countries face obstacles in accessing funding to invest in the needed infrastructure and capacity building.

The International Declaration on Nature-Based Solutions was signed by 33 alliances representing many governments, international and national organizations, river basin organizations, local authorities, civil society, companies and research organizations. The Declaration highlights the possibilities for combining nature-based solutions with civil engineering approaches. Signatories commit to including nature-based solutions in their long-term strategies and policies on climate change, risk reduction, land planning, and soil and water management, implementing relevant tools, and monitoring and evaluating outcomes through existing alliances on water and climate in the framework of the Marrakesh Partnership for Global Climate Action and through the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services.

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