Financial Sustainability for Protected Areas’ System: the Brazilian case
Funbio - Brazilian Biodiversity Fund
Date and Time
15 October 2012 13:15 - 14:45
This event will describe and analyze the latest mechanisms to support the financial sustainability of the Brazilian Protected Areas’ System. Environmental compensations, as described in Brazilian law, are demanded when infrastructure projects generate significant environmental impacts. Compensation resources are now a major source of extra-budgetary resources available for financing PAs. In December 2007, the Rio de Janeiro state government invited Funbio – the Brazilian Biodiversity Fund - to design a mechanism that would make it viable to manage and execute the state’s environmental compensation resources in a speedy, transparent fashion. The mechanism was implemented and in three years of operations it has gathered a portfolio of about US$ 107 million, part of which has already benefited 15 PAs, including state, federal and municipal areas. By the end of 2012, three other Brazilian states will have designed their own compensation funds in partnership with Funbio.