Side Event

Innovative financial mechanisms - the impacts on biodiversity and ecosystem resilience

Organizer
EcoNexus with co-sponsors: Ecoropa, Third World Network

Date and Time
10 November 2011 18:15 - 19:45

Meeting
Fifteenth meeting of the Subsidiary Body on Scientific, Technical and Technological Advice

New mechanisms for financing biodiversity such as biodiversity offsets are being promoted by some governments both nationally and internationally, among them the UK. The experience from carbon offset markets to date suggests this is risky. Issues include the problems around derivative markets, the difference between the intrinsic value of biodiversity and market prices and the danger of trying to reduce the first to the second. In addition, new mechanisms may lead to fragmentation of biodiversity, swapping biodiversity protection for access to resources, all with negative impacts on ecosystem integrity and resilience, local communities and indigenous peoples. Presentations provide an overview of current approaches and problems arising from them.