Active contribution to the 2030 Sustainable Development Goals by the South American, Caribbean and African conservation trust funds (CTFs) is essential. This project, sponsored by the RedLAC and CAFÉ networks and supported by the FFEM, actively encourages the private sector to engage in financing conservation through innovative financial mechanisms.
Context
Biodiversity is declining at an unprecedented rate and the pressure is increasing. In the Post-2020 Global Biodiversity Framework, transformational change must happen in every sector by 2030.
To reverse the planet-wide decline of biodiversity, additional funding of some USD824 billion per year will be required. Greater mobilisation of private sector financial resources, and the engagement of businesses in conservation, is becoming a priority. By their very nature, CTFs promote innovation and provide exclusive partnership platforms between the public & private sectors, and civil society. The BRIDGE project, sponsored by the two South American-Caribbean and African networks and supported by the FFEM, is the embodiment of this ambition.
Description
The project has three components:
- Supporting innovative, new and existing financial mechanisms which mobilise private investment and meet the criteria including alignment with public policy in supporting the member funds in RedLAC - the South American and Caribbean environmental funds network - and CAFÉ - the Consortium of African Funds for the Environment.
- Creating communities of practice which deepen the capabilities of CTFs to engage with the private sector through interaction and mentoring.
- Developing and managing in the long-term knowledge relevant to the CTFs as promoters of private financing for conservation by reinforcing the networks and the construction of a learning system.
Impacts
- Greater commitment from the private sector in biodiversity conservation thanks to new financing mechanisms managed by the CTFs.
- Promotion of the CTF learning process regarding the engagement of the private sector and reproduction of the solutions through the RedLAC and CAFÉ networks.
- Strengthening the appeal of the RedLAC and CAFÉ networks for their members and for the community financing biodiversity conservation.
Exemplary and innovative characteristic
Innovation is the driving force behind this FFEM-supported project. In fact, the goal is to create conditions favourable to the development of novel financing mechanisms - through partnerships and alliances - which the CTFs are able to test, implement, capitalise upon and develop, then to build new initiatives that will allow private financing for biodiversity conservation to grow. The innovative character of this project lies also in its construction, which will see partners collaborate from distant geographical regions: the extensive involvement of the two CTF networks will promote the exchange and dissemination of positive experiences, both within each network and between the two participating platforms.
01/07/2021
Project start date
31/07/2025
Estimated project end date
01/06/2021
Project grant date
4 years
Sectors
Afrique, Amérique du Sud, Caraïbes
In progress
Asociación Costa Rica Por Siempre (ACRXS)
Ministry for Europe and Foreign Affairs
members of RedLAC and CAFÉ
Asociación Costa Rica Por Siempre (ACRXS)
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