India needs Rs 81.6k crore per year up to 2029-30 to meet biodiversity goals | India News – Times of India

NEW DELHI: India has committed to prioritise effective restoration of at least 30% of its degraded terrestrial, inland water, and coastal and marine areas by 2030 in sync with the country’s 23 national biodiversity targets as well as the global 30×30 biodiversity goals. It said the country would need an annual average amount of Rs 81,664 crore for implementation of its updated pledges up to 2029-30.
The country unveiled its voluntary commitments in its updated National Biodiversity Strategy and Action Plan (NBSAP) during the 16th session of the UN Convention on Biological Diversity (COP16) at Cali, Colombia where countries representatives are negotiating multiple issues to protect nature, including a financial mechanism to support countries towards their efforts.
India in its updates also outlined its 23 national biodiversity targets, aligning it with the Kunming-Montreal Global Biodiversity Framework (KM-GBF) adopted by 196 countries in Montreal during COP15 in 2022 as part of a larger global goal to protect 30% of the planet Earth by 2030 (popularly known as 30×30 targets) through halt and reverse biodiversity loss and achieve a nature-positive world.
India in its updated NBSAP claimed that it spent around Rs 32,207 crore annually on biodiversity protection, conservation, and restoration from 2017-2018 to 2021-2022.
India’s 23 targets focus on reducing threats to biodiversity, ensuring sustainable use of resources, and enhancing tools for implementation. Each target is linked to specific strategies aimed at promoting ecosystem resilience, species recovery, and sustainable management practices.
“India’s diverse geography, climate, and socio-economic conditions contribute to its status as a megadiverse country, housing numerous species across various ecosystems. With over 55,000 plant taxa and 1,00,000 animal species, India plays a crucial role in global biodiversity. This diversity supports essential ecosystem services vital for human livelihoods and ecological health,” said India’s updated NBSAP.
It said, “India employs both in-situ and ex-situ conservation strategies. Protected areas (PAs) are central to conservation efforts, complemented by community-driven initiatives and managed forest practices. Agrobiodiversity is recognized as critical for food security, with extensive efforts made in conservation and sustainable management of agricultural biodiversity.”
Since achieving the country’s national biodiversity targets needs, India in its submission noted that the financing of biodiversity initiatives has been identified as a “significant challenge”.
It said, “The estimated financial requirements for implementing the updated NBSAP are substantial, necessitating innovative resource mobilization strategies. The establishment of a comprehensive biodiversity monitoring framework is also essential for tracking progress against national targets, leveraging indicators that reflect the ecological health and biodiversity status across India.”