The Mulloon Rehydration Initiative was the Australian Case Study for United Nations–commissioned Economics of Drought Report. Chris Inskeep and Jono Forrest had worked with the team from ELD – Economics of Land Degradation Initiative and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH.
Chris Inskeep and I (courtesy of generous philanthropic funding) attended the Conference of the Parties COP16Riyadh of the UN Convention to Combat Desertification. The report acknowledges the role of Nature-based solutions drought in restoring soil health and landscape function and in empowering communities. They offer no regrets options as they generate a triple dividend with two dividends regardless of drought:
- reduce drought loss & damage from drought
- increasing the income of land and water users & unlocking development
- generating broader co-benefits for climate, nature and sustainable development.
It was great to share some of Mulloon’s work with the global community. The issues around the need for regulatory reform across Australia to support landscape restoration projects resonated with many delegates.
Landscape restoration can deliver across all the three UN conventions, climate, biodiversity & drought. The message at COP 16 was clear we urgently need to connect investment ready projects with available capital. We need to engage with the private sector to demonstrate how landscape restoration is a low risk investment that can deliver real benefits for the environment, communities and financial returns.
Richard Thomas UN University & partner on the ELD – Economics of Land Degradation Initiative Economics of Drought Report released this week suggested: we need an honest broker to bring the patient capital from the private sector and to ensure equitable distribution of benefits. Reports like the Economics of Drought underscore the significant costs of inaction.
This was a great experience for Chris and I presenting the work of Mulloon Institute one that will stay with us forever.
