Green Economy Journal Issue 56

BIODIVERSITY
BIODIVERSITY
CLIMATE CHANGE
weakens ECONOMIC
and SOCIAL SYSTEMS
Climate change, biodiversity loss and pollution threaten the environment on which we depend,
and they weaken our economic and social systems. Concern for the environmental crisis is no
longer confined to multilateral institutions or the non-governmental sector.
BY THE DEPARTMENT OF FORESTRY, FISHERIES AND THE ENVIRONMENT
Partnerships are key to
unlocking the full potential
of the biodiversity sector.
country’s natural heritage to enable and facilitate transformative
socioeconomic development while ensuring that biodiversity is
conserved for present and future generations. The overriding message
is that the actions taken today must not only secure ecological
sustainability into the future but must also promote justifiable
economic and social development to reduce poverty, inequality and
unemployment, especially for our rural communities.
The White Paper, which is expected to be adopted for implementation
this year following a public participation process, focuses on a future
in which all South Africans live in harmony with nature, a future in
which our biodiversity sector is transformed, and a future in
which rural communities benefit from access to our rich natural
environment as the country’s biodiversity is conserved. It also aims
to maintain and restore ecological integrity alongside setting out
important principles to guide future policy, legislation and decisionmaking
across the sector.
Partnerships are key to unlocking the full potential of the biodiversity
sector. By doing this, the Department can support training and capacity
building programmes alongside the development of infrastructure,
the donation of wildlife to emerging game farmers, ensuring that
indigenous knowledge holders benefit from the use of natural products,
and securing a means to attract investment to the sector.
At present, seven of the eight financial solutions to catalyse
investment in the biodiversity sector and retain revenue in protected
areas are being supported by the BIOFIN programme in South Africa.
These solutions were initiated in the 2021/22 financial year and
include activating institutional governance and support mechanisms,
such as the Finance Solution Project Management Committee and
task teams for each finance solution.
An international decision that affects the growth of the biodiversity
economy and the conservation estate was the adoption of the
Kunming-Montreal Declaration at the 15th Conference of Parties to
the Convention on Biological Diversity at the end of 2022. This
Conference had also adopted the Global Biodiversity Framework, a
landmark agreement for nature which sets goals aimed at halting
biodiversity loss, the extinction of species and protecting the rights
of local and indigenous communities through fair access and benefitsharing
of genetic resources.
In 2022, the World Economic Forum’s annual Global Risks Perception
Survey identified climate action failure, extreme weather events,
biodiversity loss and ecosystem collapse as the top three of the top
10 global risks by severity over the next 10 years.
In the context of these interlinked global risks, the role of scientific
research in promoting evidence-based decision-making becomes
more important than ever before. Equally important is the role of
scientific research in finding innovative solutions to the existential
challenges facing mankind.
It is through cutting-edge scientific research that the agenda can
be set for future action to mitigate and adapt to climate change and
protect our environment. The year 2022 was an important year for the
Department of Forestry, Fisheries and the Environment, as progress
was made in developing a White Paper on the Conservation and
Sustainable Use of South Africa’s Biodiversity.
This measure and the Game Meat Strategy that was published
for implementation present a clear understanding of government’s
intentions and aspirations as it promotes the sustainable use of the
Through the Game Meat Strategy, there is acknowledgement of
the significant contribution made by the diversity of South Africa’s
wildlife models, and the potential for wildlife businesses to drive
critical elements of the value chain. It supports the move from an
informal industry, towards larger commercial ventures that provide for
economies of scale.
In the last quarter of 2022, the Department launched the
Biodiversity Sector Investment Portal to link investors with
bankable projects as a means of growing the biodiversity economy.
Development of the Investment Portal by the Department was
supported the United Nations Development Programme (UNDP) and
the Biodiversity Finance Initiative (BIOFIN) and promotes investment
opportunities in the sector while encouraging the development of
connections between communities and investor-ready and bankable
intermediaries that will ensure the sector is able to contribute to the
growth of the economy, as well as the wellbeing of society while
conserving our country’s rich biodiversity.
By encouraging investment into businesses that fall within the
broader biodiversity economy, much-needed economic and social
development can be promoted. It can also secure the country’s critical
natural capital.
A key decision of the Kunming-Montreal declaration was,
however, a proposal to increase finance to developing countries to
drive sustainable investment in reversing the loss of biodiversity
as well as prevention of future loss for the planet through
implementation of the framework.
While ambitious in its expression of goals and targets, the decision
falls short in respect of ambition on means of implementation, including
resource mobilisation to close the financing gap of $700-billion,
capacity building, technology and technology transfer. This
commitment will go some way in assisting developing countries
address the burden climate change mitigation and adaptation will
place on already vulnerable economies.
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