Fred Pearce is a freelance author and journalist writing on behalf of Wetlands International Europe.
Everybody knows that saving the Amazon rainforest is critical to our planet’s future. But the Pantanal? Most people have never heard of Brazil’s other ecological treasure, the world’s largest tropical wetland – let alone understood its importance, as home to the highest concentration of wildlife in the Americas, while keeping a billion tonnes of carbon out of the atmosphere, and protecting millions of people downstream from flooding.
Hundreds of millions of euros are spent every year on protecting and restoring the world’s forests. Wetlands are just as important, yet don’t get anything like the same recognition or investment. That, scientists insist, has to change. And Europe can lead the way.
For forests, the EU already provides financial and technical assistance for a series of Forest Partnerships with non-EU countries, as part of its Global Gateway strategy for investing globally in environmentally and socially sustainable infrastructure. Such partnerships operate in Guyana, the Democratic Republic of the Congo, Mongolia and elsewhere.
I believe the time is now right to establish a parallel EU Wetland Partnerships, framing wetlands as a strategic, cost-effective investment offering high financial, environmental and social returns.
Wetlands store a third of global soil carbon
Wetlands come in many shapes and sizes: freshwater peatlands, lakes and river floodplains, as well as coastal salt marshes, mangroves and seagrass beds. They are vital natural infrastructure, maintaining river flows that buffer against extreme weather events such as floods and drought, as well as protecting biodiversity, and providing jobs and economic opportunities, often for the most vulnerable nature-dependent communities.
Wetlands cover just six percent of the land surface, but store a third of global soil carbon – twice the amount in all the world’s forests. Yet they have been disappearing three times faster than forests, with 35 percent lost in the past half century.
Their loss adds to climate change, causes species extinction, triggers mass exoduses of fishers and other people whose livelihoods disappear, and depletes both surface and underground water reserves. Continued wetlands destruction is estimated to contribute five percent of global CO2 emissions – more than aviation and shipping combined.
EU Wetland Partnerships can be critical to unlocking finance to stem the losses and realise the benefits by promoting nature-based economic development, such as sustainable aquaculture, eco-tourism, and forms of wetlands agriculture known as paludiculture, while contributing to climate adaptation by improving the resilience of water resources.
Pantanal faces multiple threats
The Pantanal would be a prime candidate for a flagship project. The vast seasonal floodplain stretching from Brazil into Paraguay and Bolivia, is home to abundant populations of cayman, capybaras, jaguars and more than 600 species of birds. It is vital also for preventing flooding on the River Paraguay for some 2000 kilometres downstream to the Atlantic Ocean.
The Pantanal faces multiple threats, from droughts due to upstream water diversions and climate change, invasions by farmers setting fires and a megaproject to dredge the river and create a shipping corridor through the wetland.
But EU investment to achieve partnership targets agreed with Brazil on restoration, conservation and sustainable management could reinvigorate traditional sustainable land use – including cattle ranching that helps sustain the Pantanal’s open flooded grasslands.
Accounting for wetlands carbon in national emissions targets
Africa, a main focus of the Global Gateway, has abundant potential for early partnership initiatives. They include the Inner Niger Delta in Mali, which sustains some three million inhabitants, but is threatened by upstream dams and conflicts over resources between farmers and herders.
Another is the Sango Bay-Minziro wetland, a region of swamp forests, flooded grasslands and papyrus swamp straddling the border between Uganda and Tanzania on the shores of Lake Victoria, Africa’s largest lake.
The two countries have agreed to cooperate in pushing back against illegal logging, papyrus extraction and farming, and Wetlands International has been working with local governments to encourage community-based initiatives. But an EU partnership could dramatically expand this work, helping sustain the wider ecology of Lake Victoria and the Nile Basin.
Deep in the Amazon, forest protection cash must vie with glitter of illegal gold
National pledges to bring wetlands to the fore of environmental action are proliferating rapidly, especially since the 2023 global climate stocktake at COP28 in the UAE emphasised the importance of accounting for wetlands carbon in national emissions targets.
Since then, more than 50 countries have signed up to the 2023 Freshwater Challenge to protect freshwater ecosystems; more than 40 governments with 40 percent of the world’s mangroves have endorsed the 2022 Mangrove Breakthrough that aims to protect and restore 15 million hectares by 2030; and the newly established Peatland Breakthrough aims at rewetting at least 30 million hectares and halting the loss of undrained peatland by 2030.
Such ambition will almost certainly be endorsed at the 2026 UN Water Conference to be hosted by the UAE and Senegal in December this year. But the key to turning targets into reality on the ground lies in finding the billions of Euros needed to deliver on the ambition. EU Wetlands Partnerships could help seal the deal.
The post The EU should partner with Global South to protect carbon-storing wetlands appeared first on Climate Home News.
The EU should partner with Global South to protect carbon-storing wetlands
Months after a collapsed pipe pushed nearly 250 million gallons of raw sewage into the river, residents say the area still smells.
Members of a congressional subcommittee this week questioned utility leaders and state officials about their knowledge of preexisting problems with the sewage line that collapsed on Jan. 19 near the Potomac River.
Congress Grills Officials About the Potomac River Sewage Spill
A formal petition to the U.S. government calls for sanctions on Chinese seafood imports as it highlights China’s loophole-ridden illegal shark fin trade.
For migrant workers trapped onboard Chinese distant water fishing fleets, cutting the fins off sharks as they writhe violently on rusted decks in the Indian Ocean isn’t accidental. It’s an intentional and lucrative act that marks the start of a bloody half-a-billion-dollar offshore supply chain, tacitly supported by Beijing yet covertly concealed from port inspectors globally.
New data on international climate finance for 2023 and 2024 suggests that wealthy countries are highly unlikely to have met their pledge to double funding for adaptation in developing nations to around $40 billion a year by 2025 amid cuts to their overseas aid budgets.
At the COP26 climate summit in Glasgow in 2021, all countries agreed to “urge” developed nations to at least double their funding for adaptation in developing countries from 2019 levels of around $20 billion by 2025. Funding for adaptation has lagged behind money to help reduce emissions and remains the dark spot even as the data showed overall climate finance rose to a record $136.7 billion in 2024.
A United Nations Environment Programme report warned last year that wealthy nations were likely to miss the adaptation finance target and the data released on Thursday by the Organisation for Economic Co-operation and Development (OECD) shows that in 2024 adaptation finance was just under $35 billion.
The OECD, an intergovernmental policy forum for wealthy countries, said the increase between 2022 and 2024 was “modest”, adding that meeting the doubling target would require “strong growth” of close to 20% in 2025.
More cuts likely
The OECD’s figures do not go up to 2025, but several nations announced cuts to climate finance last year. The most notable was the abandonment of US pledges to international climate funds by the new Trump administration but the UK, France, Germany and other wealthy European countries also pared back their contributions.
Joe Thwaites, international finance director at the Natural Resources Defense Council, said developed countries were “not on track” to meet the adaptation funding goal.
Power Shift Africa director Mohamed Adow said adaptation finance is needed to expand flood defences, drought-resistant crops, early warning systems and resilient health services as the world warms, bringing more extreme weather and rising seas. “When that money fails to arrive, people lose homes, harvests and livelihoods – and in the worst cases, their lives,” he warned.
Imane Saidi, a senior researcher at the North Africa-based Imal Initiative, called the $35 billion in adaptation finance in 2024 “a drop in the ocean”, considering that the United Nations estimates the annual adaptation needs of developing countries at between $215 billion and $387 billion.
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If confirmed, a failure to meet the goal is likely to further strain relations between developed and developing countries within the UN climate process. A previous pledge to provide $100 billion a year of total climate finance by 2020 was only met two years late, a failure labelled “dismal” by the UAE’s COP28 President Sultan Al Jaber and many other Global South diplomats.
Missing that goal would also raise doubts about donor governments’ commitment to meeting their new post-2025 adaptation finance goal. At COP30 last year, governments agreed to urge developed countries to triple adaptation finance – without defining the baseline – by 2035.
African and other developing countries have pointed to lack of funding as a key flaw in ongoing attempts to set indicators to measure progress on adapting to climate change.
Speaking to climate ministers from around the world in Copenhagen on Wednesday, Turkish COP31 President Murat Kurum stressed the importance of climate finance. “It is easy to say we support global climate action,” he said, “but promises must be kept.”
He said the COP31 Presidency will use the new Global Implementation Accelerator and recommendations in the Baku-to-Belem roadmap, published last year, to scale up climate finance – and will hold donors accountable for their collective finance goals.
He noted that developed countries should this year submit their first reports showing how they will deliver their “fair share” of the new broader finance goal set at COP29 in 2024, to deliver $300 billion a year in climate finance by 2035. They are due to report on this once every two years.
Broader climate finance
The OECD data shows that the overall amount of climate finance – including funding for emissions cuts – provided by developed countries grew fast in 2023 before declining in 2024. In contrast, the amount of private finance developed countries say they “mobilised” increased in both 2023 and 2024, pushing the top-line figure to a record high.
While the OECD does not say which countries provided what amounts, data from the ODI Global think-tank suggests that the 2024 cuts to bilateral climate finance were spread broadly among wealthy nations.
Thwaites of NRDC welcomed the fact that overall climate finance provided and mobilised by developed countries exceeded $130 billion in both 2023 and 2024. He said that this was “well above earlier projections” and “shows that when rich countries work together, they can over-achieve on climate finance goals”.
But Sehr Raheja, programme officer at the Delhi-based Centre for Science and Environment, said these figures are “modest” when set against the new $300-billion goal.
“While the headline total figure of climate finance remains alright,” she said, “declining bilateral climate spending raises important questions about the predictability of high-quality, concessional public finance, which has consistently been a key demand of the Global South.”
She also lamented that loans continue to dominate public climate finance and that mobilised private finance is concentrated in middle-income countries and on emissions-reduction measures rather than adaptation projects. “Private capital continues to follow bankability rather than climate vulnerability or need,” she added.
Ritu Bharadwaj, climate finance and resilience researcher at the International Institute for Environment and Development, said the figures painted an outdated picture as climate finance has since declined as rich countries shrink their overseas aid budgets and increase spending on defence.
Last month, the OECD published figures showing that international aid – which includes climate finance – fell by nearly a quarter in 2025. The US was responsible for three-quarters of this decline. The OECD projects a further decline in 2026.
With Thursday’s climate finance report, the OECD is “publishing a victory lap for 2023 and 2024 at almost the same moment its own aid statistics show the funding base eroding underneath it,” Bharadwaj said.
The post New data shows rich nations likely missed 2025 goal to double adaptation finance appeared first on Climate Home News.
New data shows rich nations likely missed 2025 goal to double adaptation finance
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