NAIROBI, March 1 (Xinhua) -- International conservation groups on Tuesday called on major economies to allocate 60 billion U.S. dollars annually in order to boost protection of biodiversity hotspots in developing countries.
The funding appeal that was made on the sidelines of the resumed fifth session of the UN Environment Assembly (UNEA-5) underway in the Kenyan capital, Nairobi is expected to revitalize conservation of endangered species.
Bruno Oberle, the director-general of Geneva-based International Union for Conservation of Nature (IUCN) stressed that bridging a funding gap towards biodiversity conservation will guarantee a healthy, green and prosperous future for communities in the global south.
"Providing local and indigenous communities with the necessary means to conserve nature is not only a moral obligation, but also a sound investment that will generate high returns for all of us," said Oberle.
According to the UN Convention on Biological Diversity(CBD), halting the growing biodiversity loss amid climate change and over-exploitation would require 844 billion dollars annually.
Experts noted that multilateral lenders and wealthy nations are yet to honor their financial obligation to strengthen biodiversity conservation in developing countries, thereby undermining climate resilience among local communities.
Marco Lambertini, the director-general of World Wide Fund for Nature (WWF) International said that investing in nature protection will spur inclusive and green growth besides shielding communities from disease-causing pathogens.
Lambertini stressed that innovative financing tools were required to boost conservation of biodiversity hotspots that are key to food, water and energy security in developing countries.
He said that funding should be at the heart of negotiations that would pave way for the establishment of a post-2020 global biodiversity framework.
Delegates from over 190 countries will be expected to endorse the post-2020 global biodiversity framework at a summit to take place in Kunming city, the capital of China's southern Yunnan Province from April 25 to May 8.
Patricia Zurita, CEO of Birdlife International said the Kunming meeting will provide a platform to discuss policy, legislative and financing tools that could be harnessed to revitalize biodiversity conservation in the developing world.
Zurita stressed that bridging the financing gap should be combined with adoption of sustainable production and consumption habits in order to halt biodiversity loss. ■