Investments to reverse biodiversity loss are economically beneficial

Sumaila, U. Rashid; Rodriguez, Carlos Manuel Taboada; Schultz, Maria; Sharma, Ravi; Tyrrell, Tristan D.; Masundire, Hillary; Damodaran, A.; Bellot-Rojas, Mariana; Rosales, Rina Maria P.; Jung, Tae Yong; Hickey, Valerie; Solhaug, Tone; Vause, James; Ervin, Jamison; Smith, Sarah E.; Rayment, Matt

doi:10.1016/j.cosust.2018.01.007

Cited by 12 publications

(5 citation statements)

References 16 publications

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“…Though the proportion of this amount that is relevant to the ocean has not been identified, the ocean financing gap is likely very high; it is estimated that to meet the global need for conservation funding in general, investable cash flows from conservation projects need to be at least 20-30 times greater than they are today 27 . Sumaila et al 28 report that currently ∼0.002% of global GDP is invested in the conservation and sustainable use of biodiversity generally, and that about four times the current level of investment is required to meet conservation needs. It is evident that current investment for a SOE is insufficient.…”

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confidence: 99%

Financing a sustainable ocean economy

Walsh²,

et al. 2021

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The ocean, which regulates climate and supports vital ecosystem services, is crucial to our Earth system and livelihoods. Yet, it is threatened by anthropogenic pressures and climate change. A healthy ocean that supports a sustainable ocean economy requires adequate financing vehicles that generate, invest, align, and account for financial capital to achieve sustained ocean health and governance. However, the current finance gap is large; we identify key barriers to financing a sustainable ocean economy and suggest how to mitigate them, to incentivize the kind of public and private investments needed for topnotch science and management in support of a sustainable ocean economy.

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confidence: 99%

Financing a sustainable ocean economy

Walsh²,

et al. 2021

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“…Furthermore, it has been estimated that to achieve the global need for conservation funding, investible cash flows from conservation projects need to be at least 20-30 times greater than they are today. Sumaila et al (2017) report that currently about 0.002% of global GDP is invested in conserving and sustainably using biodiversity, and about 4 times the current level of investment is required to meet conservation needs. Although these estimates are for biodiversity in general, the available data suggest inadequate investments in ocean sustainability.…”

Section: Introductionmentioning

confidence: 99%

Ocean Finance: Financing the Transition to a Sustainable Ocean Economy

Lubchenco

Haugan

2023

The Blue Compendium

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The ocean covers more than 70% of Earth’s surface and plays a crucial role in providing ecosystem goods and services that sustain life and support the well-being of billions of people worldwide (Teh and Sumaila 2013; FAO 2018; Hoegh-Guldberg et al. 2019; IPBES (Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services) 2019). The ocean holds many economic opportunities, and many experts are recognising the need for a coordinated and sustainable approach to its use. Ocean finance can play a vital role in supporting sustainable development of the ocean economy by directing investments to sustainable development pathways that minimise ocean risks and maximise social equity, human well-being and environmental health.

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“…The financial shortfalls for MPAs mirror broader capacity gaps for conservation at large. Recent reports estimate that about $300-$967 billion USD needs to be invested in biodiversity conservation each year in order to reach and maintain global targets [including billions per year for MPAs (Brander et al, 2020)], of which only $52-$143 billion is estimated to be delivered (Bryan and Crossman, 2013;Huwyler et al, 2014;Deutz et al, 2020;Perry and Karousakis, 2020;Sumaila et al, 2020). MPAs are primarily supported by domestic government spending, which comprises 57-80% of total annual investment in biodiversity conservation (Deutz et al, 2020;Perry and Karousakis, 2020).…”

Section: Introductionmentioning

confidence: 99%

A New Tool to Evaluate, Improve, and Sustain Marine Protected Area Financing Built on a Comprehensive Review of Finance Sources and Instruments

et al. 2022

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Marine protected areas (MPAs) require sustained funding to provide sustained marine protection. Up until now government budgets, multi- and bi-lateral aid, and philanthropic grants have been commonly relied upon to finance the management and enforcement of MPAs. But new funding mechanisms, such as impact investments or blue carbon, are increasingly applied and developed. Here, we present a semi-structured review that identifies 11 or more sources of finance, 21 financial instruments and more than 75 potential combinations thereof that show the current diversity of financial mechanisms available to support MPA establishment and operations. Based on the review, we developed nearly 100 indicators reflecting environmental, governmental, socioeconomic, and management characteristics that can inform the appropriateness, and corresponding strengths and weaknesses, of applying these financial mechanisms to any given MPA. The outputs provide a series of recommendations for implementing new funding mechanisms and ways to improve the sustainability of in-place mechanisms. The findings were compiled into a replicable framework and excel tool that was pilot tested in May 2021 for Parque Nacional Natural Corales de Profundidad in Colombia that identified potential ways to improve upon financial mechanisms, including, hiring a full-time manager and potential alternative mechanisms like biodiversity offsets from fossil fuel exploration and exploitation, among several others. The research also identified barriers for implementing financial mechanisms that reflect broader systemic challenges for MPA finance worldwide.

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Investments to reverse biodiversity loss are economically beneficial

Cited by 12 publications

References 16 publications

Financing a sustainable ocean economy

Financing a sustainable ocean economy

Ocean Finance: Financing the Transition to a Sustainable Ocean Economy

A New Tool to Evaluate, Improve, and Sustain Marine Protected Area Financing Built on a Comprehensive Review of Finance Sources and Instruments

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