Stakeholders worry over growing threat to biodiversity

Stakeholders have expressed concerns over the increasing threat to biodiversity in Africa and other parts of the world.

This was even as they worried that the $967 billion needed annually to reverse the trend may remain unrealistic.

Executive Director, International Support Network for Africa Development (ISNAD-Africa), Adedoyin Adeleke, in a policy released in partnership with the World Wide Fund for Nation (WWF) said while 78 and 22 per cent of the world’s biodiversity finance are generated in developed and developing economies respectively, COVID-19 and other issues have worsened the funding challenges.

“Moreover, the continent still depends on traditional funding sources for conservation such as government and donor support as well as self-generated revenue, which is needed yet inadequate to bridge this funding gap.

“Yet, the COVID-19 pandemic has reduced the conservation-related funding significantly due to decline of tourism across African countries. Hence, there is a crucial need to diversify and increase self-generated revenues and develop innovative financing mechanisms,” he said.

To achieve the goal of the post-2020 Global Biodiversity Framework, Adeleke stressed the need to include 2030 milestones in the post-2020 Global Biodiversity Framework (GBF).

“We recommend that Parties refine and complement the milestones provided in the first draft of GBF to ensure they help focus the attention and actions of key decision-makers, stakeholders and sectors on what needs to be achieved by 2030.

“In order to avoid confusion, we need to be clear that while milestones focus on outcomes, all targets should focus on the transformative actions needed to achieve the 2030 Mission,” he added

Adeleke added that align and link strategies for implementing post-2020 Global Biodiversity Framework with green strategies and net-zero emissions in order to create an opportunity for more biodiversity funding.

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Stakeholders worries over growing threat to biodiversity