How effective are financial instruments such as rhino bonds and debt-for-nature swaps in safeguarding Asia's biodiversity?

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Eco-Business 1 mo ago

How effective are financial instruments such as rhino bonds and debt-for-nature swaps in safeguarding Asia's biodiversity? - Eco-Business

Quick Summary:

The novel mechanisms promise to mobilise more private financing for conservation, but risk distracting developing countries from addressing underlying debt issues and could ultimately be exploitative, say experts.

Under the current trajectory, researchers estimate that almost all Asian countries will fail to meet a landmark target adopted at the 2022 United Nations biodiversity summit to protect 30 per cent of the world’s lands and oceans by 2030. That is, unless governments start establishing protected areas up to six times faster – an endeavour which will require biodiversity spending as a share of national budgets to increase beyond the current regional average of 0.3 per cent.

However, the challenge is that a lot of the land in emerging economies are zoned for development, unlike South Africa where the conservation sites are ringfenced, which allows the main threats to be narrowed down to poaching and for more “straightforward” key performance indicators (KPIs) to meet, like an increase in the numbers of rhinoceros, said Clements.“In a developing country, it can be done, but it’s a bit more complex because of the added threats from development,” he said.