As countries expand their protected areas to meet the ambitious goal of protecting 30 per cent of land and sea by 2030, many newly established protected areas are failing to stop deforestation, leading to biodiversity loss and carbon emissions.
However, relying purely on such market-based mechanisms has its drawbacks.“With any market-based approach, there is a risk of market crashes,” Zeng says.“It brings risks within the lifetime of a project.” Instead, he says, blended finance, with its mix of public and private funding to manage protected areas, can alleviate the risk.
As countries expand their protected areas to meet the ambitious goal of protecting 30 per cent of land and sea by 2030, many newly established protected areas are failing to stop deforestation, leading to biodiversity loss and carbon emissions.
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