The private sector has a crucial role to play in financing and addressing sustainability challenges, according to a joint paper published by the Taskforce on Nature Markets and TRAFFIC. The paper argues that the conservation, sustainable use and restoration of biodiversity can provide substantial business opportunities.
The report outlines the high costs of inaction to address biodiversity loss, with the global economy estimated to suffer an annual loss of USD4-20 trillion in ecosystem services between 1997 and 2011. It also illustrates the 15 building blocks that amalgamate regulatory, economic and social interventions to promote legal, sustainable and traceable practices, while addressing the underlying causes of illegality and unsustainability.
Paola Mosig Reidl, TRAFFIC’s Co-lead, Data, Research, and Enforcement Support and co-author of the paper, said: “When governed effectively, legal and sustainable nature markets involving wild species incentivise and contribute to biodiversity conservation, enhance the livelihoods of indigenous peoples and local communities and benefit others involved in the supply chains. The financial sector has an important role to play in promoting and enhancing these nature positive markets and increased transparency.”
Sarah Baker Ferguson, TRAFFIC’s Crime Convergence Lead and co-author of the paper, added: “Nature markets benefit national and international economies. Laws and regulations rooted in science-based evidence are vital to balance the books for those nature markets that are legally and sustainably trading in wild species supply chains and, in turn, disincentivise illegal sales of wild species products that are exacerbating the negative impact of biodiversity loss and climate change.”
The paper further highlights the challenges and intricacies of applying global solutions like CBD’s Kunming-Montreal Global Biodiversity Framework, CITES and other national regulations, as well as the outcomes from recent non-governmental or intergovernmental reports like IPBES Sustainable Use Assessment in real-world examples.
Marcelo Furtado, Co-lead of the Secretariat, said: “This paper brings nature market governance alive through a diversity of compelling and contextually complex case studies of plants and animals from across the world, such as that of the crocodile skin market in the Northern Territories of Australia. These case studies bring the urgent question of nature markets to life – snapping, roaring and singing its findings.”
Simon Zadek, Nature Finance, Executive Director, concluded: “Nature crimes are at the core of much of nature’s destruction, and resulting illegal nature markets provide the economic oxygen to make these crimes profitable. TRAFFIC’s exceptional report helps the reader understand this complex world, and points not only to ways to tackle such crimes but the lessons from experience of doing do for the future governance of nature markets.”
A joint paper published by the Taskforce on Nature Markets and TRAFFIC has highlighted the crucial role of the business and finance sectors in facilitating strong nature markets and purging illegal and unsustainable trade in their commerce. The paper outlines the high costs of inaction to address biodiversity loss, with the global economy estimated to suffer an annual loss of USD4-20 trillion in ecosystem services between 1997 and 2011.
Paola Mosig Reidl, TRAFFIC’s Co-lead, Data, Research, and Enforcement Support and co-author of the paper, said: “When governed effectively, legal and sustainable nature markets involving wild species incentivise and contribute to biodiversity conservation, enhance the livelihoods of indigenous peoples and local communities and benefit others involved in the supply chains. The financial sector has an important role to play in promoting and enhancing these nature positive markets and increased transparency.”
The paper further outlines a set of recommendations and 15 building blocks that amalgamate regulatory, economic, and social interventions to promote legal, sustainable and traceable practices while addressing the underlying causes of illegality and unsustainability. It also highlights the challenges and intricacies of applying global solutions like CBD’s Kunming-Montreal Global Biodiversity Framework, CITES and other national regulations.
Marcelo Furtado, Co-lead of the Secretariat, said: “This paper brings nature market governance alive through a diversity of compelling and contextually complex case studies of plants and animals from across the world, such as that of the crocodile skin market in the Northern Territories of Australia. These case studies bring the urgent question of nature markets to life – snapping, roaring and singing its findings.”
Simon Zadek, Nature Finance, Executive Director, concluded: “Nature crimes are at the core of much of nature’s destruction, and resulting illegal nature markets provide the economic oxygen to make these crimes profitable. TRAFFIC’s exceptional report helps the reader understand this complex world, and points not only to ways to tackle such crimes but the
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