Open AccessDesigning a global mechanism for intergovernmental biodiversity financing
Author(s) -
Droste Nils,
Farley Joshua,
Ring Irene,
May Peter H.,
Ricketts Taylor H.
Publication year - 2019
Publication title -
conservation letters
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 3.153
H-Index - 79
ISSN - 1755-263X
DOI - 10.1111/conl.12670
Subject(s) - convention on biological diversity , biodiversity , incentive , business , environmental resource management , mechanism (biology) , biodiversity conservation , environmental planning , natural resource economics , global public good , economics , ecology , geography , public good , biology , philosophy , epistemology , microeconomics
Abstract The Convention on Biological Diversity and the Nagoya Protocol display a broad international consensus for biodiversity conservation and equitable benefit sharing. Yet, the Aichi biodiversity targets show a lack of progress and thus indicate a need for additional action such as enhanced and better targeted financial resource mobilization. To date, no global financial burden‐sharing instrument has been proposed. Developing a global‐scale financial mechanism to support biodiversity conservation through intergovernmental transfers, we simulate three allocation designs: ecocentric, socioecological, and anthropocentric. We analyze the corresponding incentives needed to reach the Aichi target of terrestrial protected area coverage by 2020. Here we show that the socioecological design would provide the strongest median incentive for states which are farthest from achieving the target. Our proposal provides a novel concept for global biodiversity financing, which can serve as a starting point for more specific policy dialogues on intergovernmental burden and benefit‐sharing mechanisms to halt biodiversity loss.