P300 B needed to conserve Philippine biodiversity – DENR

MANILA, Philippines - The country will need more than P300 billion to be able to undertake biodiversity conservation, the Department of Environment and Natural Resources (DENR) said.

The Philippines is one of 17 mega diverse countries, harboring more diversity of life per hectare than any other country in the world. Yet the DENR warned that encroachment in forested areas, pollution, overfishing and poor land management practices lead to biodiversity loss at an alarming rate.

To address these threats, the DENR-Biodiversity Management Bureau (BMB) with support from the United Nations Development Program (UNDP), other national government agencies, academe, civil society and development partners, conducted a study and developed the Philippines Biodiversity Strategy and Action Plan (PBSAP).

The PBSAP is the country’s road map in conserving biodiversity and critical ecosystem services for the next 13 years. The project addresses the country’s need to fulfill its obligations under the Convention on Biological Diversity.

Through the UNDP’s Biodiversity Financing Initiative (BioFin) which forms part of the PBSAP, the DENR-BMB has determined the financing gap of implementing the PBSAP estimated to be at least P334 billion ($7.4 billion) over the next 13 years (P24 billion annually).

This covers actions on forest, coastal and marine, inland wetlands, caves and cave systems, protected areas, invasive alien species, agrobiodiversity, access and benefit-sharing and urban biodiversity.

“This may sound like a huge impost on the budget but it really is not. It should be seen as an investment in conservation and also as an economic investment with significant financial returns to the country. It is an investment that needs to be made by both government and the private sector,” UNDP Philippines country director Titon Mitra said.

He added this could see a minimum return of $10 billion per year from fisheries, ecotourism and pharmaceuticals derived from genetic resources.

UNDP project manager Anabelle Plantilla said that to be able to come up with the amount and address the threats to biodiversity, government should increase allocation for that purpose.

“It is also possible to engage in partnerships with the private sector to meet our goals, and at the same time, avail for example, of the official development assistance, and other similar financial assistance,” Plantilla added.

She likewise stressed the importance of making the general public appreciate biodiversity conservation that will in effect lead to resource mobilization.

Launched in 2012, BioFin is a global partnership seeking to address the biodiversity finance challenge in a comprehensive manner through building a sound business case for increased investment in the management of ecosystems and biodiversity.

The Philippines is one of 29 countries involved in the initiative.