Public or private funding for biodiversity – the continuing debate
Date and Time
8 May 2012 13:15 - 14:45
The challenge of mobilizing resources for biodiversity has led to proposals for market mechanisms to generate funding. But the questions remain. Should biodiversity be turned into a tradable asset? Wouldn’t this simply lead to the privatisation and commodification of biodiversity? What about the impacts on indigenous peoples and ecosystems? Attempts to define biodiversity in financial terms remain controversial. Experiences in the climate convention process are demonstrating the limits and failures of market mechanisms. Instead, consensus is emerging that the state must play a key role in regulating and also in contributing funds for biodiversity. However, reform and redirection of subsidy regimes, or the development of environmental or financial transaction taxes to raise funds, requires political will. Presentations will highlight the issues, followed by discussion.