Hyderabad, Oct 18: New approaches to financing nature conservation that mobilize funding and community action can provide the long-term sustainability needed to secure healthier ecosystems and improve livelihoods, says a World Bank report.
The report titled “Expanding Financing for Biodiversity Conservation: Experiences from Latin America and the Caribbean” was released Thursday at the 11th Conference of the Parties of the UN Convention on Biological Diversity (CBD) here.
The report documents five examples across Latin America where diverse sources of financing – from public to private to non-government – are being combined to fund effective conservation and community development.
World Bank Vice President for Sustainable Development Rachel Kyte called for innovative partnerships to mobilize resources for biodiversity conservation and management
“In an era of diminishing public expenditures for biodiversity conservation, we need innovation, communication and effective partnerships. We are seeing more and more good 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,” Kyte said.
One of the success stories the report highlights comes from the Brazilian state of Acre which decoupled its economic growth from deforestation. The state has reduced deforestation rates by 70 percent while growing its GDP by 44 percent between 2003 and 2008.
Another Brazilian state, Rio de Janeiro filled 43 percent of its conservation financing gap by setting up the Atlantic Forest Fund.
Partially funded through legally enshrined compensation payments for the environmental impacts of industrial and infrastructure projects, the funds are being used to finance projects in approximately 20 protected areas.
The report stressed the need for raising resources from diverse stakeholders, enabling legal and institutional support, capacity based on record of experience. building social capital, clarity about conservation objectives and strong government leadership to achieve the goal.