Innovative mechanisms for financing biodiversity conservation: A comparative summary of experiences from Mexico and Europe
Meeting global and EU commitments on protecting and restoring biodiversity will require innovative funding approaches. An EU Partnership Instrument-funded project by IEEP and partners from CIRAD Agricultural Research for Development and Ibero-American University compared the use of novel funding mechanisms for biodiversity conservation in the EU and Mexico. The project resulted in three reports: two regional reports and a synthesis summary.
The authors explored mechanisms including payments for environmental / ecosystem services (PES), biodiversity offsetting, environmental fiscal instruments, and private sector and impact investment. The study also provides examples of best practice from the EU and Mexico which could be applied to the other region.
These instruments offer a variety of options to increase biodiversity financing, but should be seen as complements, and not replacements to public investing. They should be used as part of a wider policy mix that must be tailored to specific economic, institutional and social characteristics of each region and context. This tailored approach is essential for the success of any conservation funding mechanism.
The three reports inform the implementation and evaluation of the EU Biodiversity Strategy to 2020, which help meet commitments under the UN Convention on Biological Diversity and the UN Sustainable Development Goals.