Four biodiversity finance solutions launched to commemorate International Biodiversity Day

To reduce the financing gap in the country’s efforts in biodiversity conservation, four biodiversity finance solutions were launched today in commemoration of International Biodiversity Day in Thimphu. The financial solutions fall under the global biodiversity finance initiative, which involves 41 countries. The solutions will be implemented by the finance ministry, tourism department, the Department of Forests and Park Services, Bhutan for Life, WWF Bhutan, and the Royal Society for Protection of Nature.

The four financing solutions are enhancing results-based budgeting implementation through ecological fiscal transfers, mainstreaming biodiversity finance and finance solutions into the local government plans, increasing revenues from ecotourism fees in parks and conservation areas, and redesigning human-wildlife conflict schemes.

“The motivation is to not only increase the amount of funding available but to improve the efficiency by which we are investing in nature in Bhutan, using solutions that are particularly appropriate to the priorities of the country,” said Andrew Seidl, senior technical advisor of Global BIOFIN Team.

According to Agriculture and Livestock Minister Yeshi Penjor, with the launch of the financial solutions, agencies will work together to achieve Bhutan’s commitment to the conservation and sustainable utilisation of biological resources.

“Bhutan is among the first to be chosen because of its unique position in biodiversity and climate finance. UNDP feels that collaboration with Bhutan can result in positive outcomes for biodiversity that are very important for the world,” added Andrew Seidl.

The commemoration of International Biodiversity Day ended with a tree plantation programme, followed by a garden tour of the Royal Botanical Garden.

The second edition of the book titled “A Century of New Orchid Records in Bhutan” was also launched as part of the event.

At the event, the National Biodiversity Centre also declared the winners of the National Bird Month and the National Bird Photography Contest 2023. Out of around 2500 bird observations, Thinley Wangchuk came first with 480 observations followed by Tshering Dorji and Sangay Chhophel.

Meanwhile, Ugyen Tshering won the National Bird Photography Contest. Chening Dorji and Tshultrim Drukpa bagged the second prize and Deoman Rai came third.

Tashi Yangden

Edited by Sherub Dorji

The post Four biodiversity finance solutions launched to commemorate International Biodiversity Day appeared first on BBSCL.

Related Posts