World Bank backs nature-based solutions for climate resilience

World Bank backs nature-based solutions for climate resilience
Banking & Financial Services
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Ajay Banga 14th President of the World Bank Group | Official Website

Between 2012 and 2024, the World Bank financed approximately 250 projects using nature-based solutions (NBS) to enhance climate resilience. These initiatives include urban resilience, coastal resilience, and landscape restoration efforts. Among these projects, 66 have directly benefited 9.5 million people and restored 1.1 million hectares of ecosystems.

Active projects are projected to benefit an additional 19.4 million people and restore 3.5 million hectares of natural spaces. NBS are vital for strengthening climate resilience, as demonstrated by a retention basin built in Argentina in 2020 that reduced flood risks for over three million people. Similarly, a park in Mozambique protected thousands from flooding.

Nani Hendiarti, Deputy Minister for Environment Coordination and Forestry at Indonesia's Coordinating Ministry for Maritime Affairs and Investment, highlighted the benefits of mangroves: "Mangroves provide endless benefits for communities... The carbon stored in mangroves can also be traded."

The World Bank's approach includes raising awareness about NBS through knowledge sharing and policy support while integrating NBS into country-specific strategies. It has developed tools like the NBS Opportunity Scan to identify investment opportunities across cities and coastlines globally.

In partnership with organizations such as United Nations agencies and The Nature Conservancy, the World Bank works on joint knowledge products to advance NBS implementation worldwide.

Looking ahead, the World Bank plans to continue investing in NBS projects in low- and middle-income countries while exploring ways to create jobs through these solutions.