Innovative Financing for Biodiversity

kristyGreen Prosperity

An update on the GDM Initiative

At the 9th Conference of the Parties of the Convention on Biological Diversity which took place in May 2008, the Parties called for “studies on approaches to develop markets and payment schemes for ecosystem services at local, national and international levels.” They also agreed “to improve actions and cooperation for enhancing the engagement of the business community… in the implementation of the three objectives of the Convention” and to “come forward with new and innovative financing mechanisms in support of the strategy for resource mobilization.”

In support of these decisions, a GDM Initiative was established with the aim to achieve support by the 10thConference of the Parties for exploring the possibility of establishing a new international market-based financial mechanism. ‘GDM’ (or ‘Green Development Mechanism’) is the working name for such an international finance mechanism. In this respect, the GDM Initiative is calling for a global discussion and consideration of modalities for a GDM that would facilitate and increase private investment in support of the objectives of the Convention.

At their upcoming Conference taking place this month in Nagoya, Japan, the Parties have a unique opportunity to endorse further consultation and work on this innovative financing initiative, which could generate significant new funding from the private sector for biodiversity and development. Their endorsement could include a request for report to 11th Conference in 2012 about the feasibility of establishing a GDM.

For more information on the GDM Initiative including the background document prepared for the upcoming conference, please visit http://gdm.earthmind.net. As you will see, this document is the product of a wide consultation process, but your comments would be welcome.

Also, we would be most grateful if you would forward this update to your colleagues. Finally, if you or your colleagues will be in Nagoya, Japan, for the 10th Conference of the Parties, please do come to one of the side events on the GDM Initiative.