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LATEST NEWS UPDATES | Need New Approaches to Nature Funding: World Bank

Need New Approaches to Nature Funding: World Bank

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published Published on Oct 19, 2012   modified Modified on Oct 19, 2012
-Outlook

Hyderabad: New approaches such as Public Private Partnerships(PPP) and community-based activities would go a long way in maintaining healthy ecosystems and improving livelihoods, a senior World Bank official said here today.

Observing that there is not enough public money to invest in the biodiversity needs of the world, Rachel Kyte, World Bank Vice President for Sustainable Development, said new approaches are needed to finance nature conservation efforts.

The World Bank has a long track record in mobilising resources and its role now is in innovating and bringing in new financial mechanisms, she said.

"In an era of diminishing public expenditures for biodiversity conservation, we need innovation, communication and effective partnerships.

"We are seeing more and more examples of partnership that cross the boundaries between the public, private and non-government spheres to bridge public financing gaps and to deliver effective conservation on the ground," she said.

She was speaking at a side event organised at the ongoing UN Convention on Biodiversity on ‘Mobilising resources for conservation: Marrying public and private sector to raise revenue and cut costs’.

The countries can mobilise resources for biodiversity conservation by making use of payments made by people either by legislation or by agreement between private sector and municipalities, by cities and citizens for large scale investments to protect nature, Kyte said.

Such examples from Brazil and countries from Latin America, Africa and Asia were discussed at the event.

A World Bank report launched at the 11th Conference of the Parties of the UN Convention on Biological Diversity (CBD) documents five examples in Latin America where diverse sources of financing, from public to private to non-government were being combined to fund conservation and community development.

A success story the report highlighted came from the Brazilian state of Acre which decoupled its economic growth from deforestation and reduced deforestation by 70 per cent while growing its GDP by 44 percent between 2003 and 2008.

It did so by reducing illegal deforestation through the monitoring of timber licenses, enforcing environmental regulations, regularising land tenure, creating development programs in forest areas and improving agricultural and forest production processes, a press release said.

Also in Brazil, the state of Rio de Janeiro filled 43 percent of its conservation financing gap by setting up Atlantic Forest Fund which is partially funded through legally enshrined compensation payments for the environmental impacts of industrial and infrastructure projects. The funds are used to finance projects in about 20 protected areas.

Outlook, 18 October, 2012, http://news.outlookindia.com/items.aspx?artid=778529


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