Financing Biodiversity : Php334B needed for biodiversity conservation in the Philippines

11 December 2015 (Makati City) – The Philippines is one of 17 mega diverse countries, harboring more diversity of life per hectare than any other country in the world. Yet encroachment in forested areas, pollution, over fishing, poor land management practices, are leading to biodiversity loss at an alarming rate.

To address these threats, the Department of Environment and Natural Resources-Biodiversity Management Bureau (BMB) with support from the United Nations Development Programme (UNDP)’s Biodiversity Financing Initiative (BioFin), other national government agencies, academe, civil society and development partners, has 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.

Through the BioFin, the DENR-BMB has also determined the financing gap of implementing the PBSAP, estimated to be at least Php 334 billion (US$7.4 billion) over the next 13 years [PhP24 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.  This could see a minimum return of $10 billion per year from fisheries, eco-tourism and pharmaceuticals derived from genetic resources” UNDP Philippines Country Director Titon Mitra said.

The results of the review were presented today by UNDP and BMB in a press briefing attended by Mr. Guillermo Zuñiga, Former Minister of Finance, Republic of Costa Rica, now UNDP Bio Fin Team Leader in Costa Rica, and representatives from the Philippines Department of Finance, Department of Environment and Natural Resources, and the National Economic and Development Authority.

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.

For more information, contact:

Ms. Anabelle E. Plantilla, Project Manager, +63 917 5762921

About Biodiversity Financing Initiative (BIOFIN)
Launched in 2012, the Biodiversity Finance Initiative – BIOFIN, as a new global partnership, seeks to address the biodiversity finance challenge in a comprehensive manner – building a sound business case for increased investment in the management of ecosystems and biodiversity, with a particular focus on the needs and transformational opportunities at the national level. For more information, please visit: http://www.biodiversityfinance.net/.

About the Philippine Biodiversity Strategy Action Plan (PBSAP)

The PBSAP project addresses the country’s need to fulfill its obligations under the Convention on Biological Diversity (CBD) and to contribute to the efforts towards implementing the CBD Strategic Plan 2011-2020 at the national level. The updated Philippine Biodiversity Strategy and Action Plan (PBSAP) is a comprehensive plan with its own costing of the strategies and actions as well as a resource mobilization plan, which are among the key strengths of the Plan and where the BIOFIN project contributes to.

For more information, please visit: https://www.facebook.com/pbsap.

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