The Biodiversity Economy and Investment Indaba, held this week, resulted in the development of a programme of action to address the challenges in the biodiversity sector as part of the National Biodiversity Economy Strategy (NBES).

Key interventions identified include sourcing financial support, gaining access to land for biodiversity projects, sourcing human capital development and scientific support, research and securing market access for products.

“Participants emphasised that an effective biodiversity economy must be based on growing and sustaining conservation land and seascapes that can sustain both non-consumptive and consumptive uses,” says Forestry, Fisheries and the Environment Minister Barbara Creecy.

Participants also noted that there are diverse successful approaches to, and enterprises associated with, the biodiversity economy, many of which leverage value from otherwise marginal production land and seascapes, and this diversity enhances ecological resilience and offers further potential for growth, she adds.

Transformation of the biodiversity sector must ensure the meaningful and equitable inclusion of rural communities and previously disadvantaged individuals into the biodiversity economy, as well as into biodiversity conservation and sustainable use in general, Creecy says.

“The Department [of Forestry, Fisheries and the Environment] urges all stakeholders to review the NBES and offer further insights before the closing period [for public comment] on April 5.

“All submissions received will be thoroughly assessed to compile a comprehensive comments and response report, thereby ensuring that every perspective is accounted for in the refinement process,” she says.

Further, during discussions, delegates emphasised the importance of government simplifying their access to support, such as training, scientific research, financing, land, potential investors and markets, through the establishment of a one-stop shop.

“This idea, which is included in the programme of action, must aim to integrate all potential support and information through a single window. Participants felt this would help cut red tape they face when looking for support from government and nongovernmental organisations of donor agencies,” the Minister adds.

Meanwhile, Indaba participants committed to collaborate on research and document the biodiversity landscape so that information about financing, land availability, scientific services, and capacity building and training is collected and available to those in need.

The participants also agreed more work needed to be done to enhance the project pipeline and set up additional bidding sessions with a range of potential funders and investors, Creecy notes.