Ulaanbaatar:- The UN Convention to Combat Desertification (UNCCD COP17) have announced US$1.3 billion in new and pipeline finance for land restoration and drought resilience, spanning commitments in 23 countries across five continents.
At the centre of the new finance is a major push on rangelands, an issue of particular importance to host country Mongolia. The Rangelands Flagship Initiative, currently valued at US$1.2 billion across 45 named projects, was launched in Ulaanbaatar during the United Nations International Year of Rangelands and Pastoralists in 2026, a designation championed by Mongolia. It is the largest single mobilisation for rangelands in the Convention’s history.
Of the finance announced at COP17, US$644.5 million is currently identified as new finance, with US$216.4 million already confirmed and moving towards implementation.
Mongolia came to COP17 with a series of measures aimed at bringing more domestic finance into land restoration. These include sector-wide sustainable finance principles, a national green taxonomy, and a target of 10 per cent green lending by 2030.
Mongolia also launched a national Business4Land (B4L) Hub, bringing the Convention’s private-sector platform to the country level for the first time. Russia followed with a hub of its own, while Luxembourg moved to establish a Business4Land Foundation and Germany funded the B4L Finance Expert Group.
Rangelands cover more than half of the world’s land surface and support the livelihoods of around two billion people, including some 500 million pastoralists. Yet up to half of these ecosystems are degraded or at risk, making investment in their restoration critical for food security, livelihoods and drought resilience.
The economic case for that investment is significant. Rangelands generate benefits estimated at US$21–47 trillion a year, including through food production, water, carbon storage and biodiversity. Restoring rangelands typically returns US$4–6 for every dollar invested — and, when wider public benefits such as water supply are included, returns can reach as high as US$36 for every dollar invested.
“Land is not simply an environmental issue , it is economic infrastructure. It underpins food, water, jobs and stability, and when land fails, the costs are felt across economies and communities. What we are seeing in Ulaanbaatar is a shift from talking about the financing gap to building the pathways that can move investment into implementation, from stronger project pipelines and de-risking instruments to public-private partnerships. Ultimately, this finance will be judged by whether it reaches the people and landscapes that need it.” Yasmine Fouad, Executive Secretary of the UNCCD
“Rangelands are vital ecosystems, yet they have long been underfunded. Through the new UNCCD COP17 Legacy Project and other projects that are joining the Rangeland Flagship Initiative, the GEF is supporting the implementation of successful rangelands management and restoration at scale by combining our investments with strong partnerships.” Chizuru Aoki, Head of the Multilateral Environmental Conventions and Funds Division of the Global Environmental Facility.
The Global Environment Facility (GEF) supports coordination of the Rangelands Flagship Initiative through a US$3.3 million investment in the UNCCD COP17 Legacy Project. Over the past four years, GEF has also approved more than 50 projects worth over US$300 million supporting sustainable rangeland management and restoration, as well as pastoralist livelihoods.
The Asian Development Bank put US$113 million behind the Green Inclusive Regional Agribusiness Fund, while the Green Climate Fund backed two projects in Botswana and Mongolia and TWENDE in Kenya with the International Union for Conservation of Nature (IUCN).
The Adaptation Fund committed US$9.1 million to locally led adaptation with Indigenous Peoples and local communities across Africa, while the German Agency for International Cooperation (GIZ) and the German Federal Ministry for Economic Cooperation and Development (BMZ) backed Forests4Future (US$76 million) and three further programmes across Southern Africa. Peace Parks Foundation and Conservation International brought Herding for Health (US$35 million), while the International Livestock Research Institute (ILRI) brought the STELARR Investment Hub (US$22 million).
Twelve of the projects are delivered with the United Nations Development Programme (UNDP), six with the United Nations Environment Programme (UNEP) and three with the Food and Agriculture Organization of the United Nations (FAO) — showing how the UN system and development partners are beginning to converge around a common implementation agenda for rangelands.
