Cebu Hosts 4th BIOFIN Regional Workshop
Cebu plays host to the 4th Biodiversity Finance Initiative (BIOFIN) Regional Workshop for Europe, Asia and the Pacific which kicked off in Lapu-Lapu City today with experts from 20 countries across Europe, Asia, and the Pacific gathering to discuss effective solutions and best practices in biodiversity conservation financing.
The workshop aims to discuss the ways in which governments across the region are implementing finance solutions to close the significant gap in resources needed to properly conserve nature and the resources it provides.
In the Philippines, the financing gap is estimated at Php19 billion (USD 349 million) annually.
The United Nations Development Program’s BIOFIN partnered with the Department of Environment and Natural Resources (DENR) through the Biodiversity Management Bureau to implement several finance solutions to close the gap.
Globally, the annual financing need has been estimated to be between US$150 and US$440 billion.
The funding gap is seen as a major challenge in both developed and developing countries in achieving the Convention on Biological Diversity’s (CBD) Strategic Plan and the Sustainable Development Goals.
BIOFIN legislative champion and lawmaker Rep. Josephine Ramirez-Sato said the biodiversity protection is a shared problem that affects all people and it is crucial to bring about better policies for biodiversity conservation.
Sato presented during the workshop the recently enacted Expanded National Integrated Protected Areas System (ENIPAS) or R.A 11038, which expanded the protected areas in the country to now cover a total of 94 areas from what was initially only 13.
ENIPAS secures the source of funding for the protected areas by providing an annual budget for them, allowing better conservation management of diverse natural capital and rich ecosystems found across the country.
Violators also face stiffer penalties under the new law.
“We have expanded not only the areas but the prohibited acts within protected areas as well. For example, if you’re a mayor, and under ENIPAS it is proven that you have committed violations in a protected area, a case will be filed against you and if found guilty, you will face perpetual disqualification from public office,” she said during a press conference.
Sato is also a key proponent of other BIOFIN bills such as the Malampaya Fund Bill and the Philippine Genetic Resources Access and Benefit Sharing (PGRABS) Bill. (rmn/PIA7 Cebu)
