NAMIBIA NEEDS 3.0 BLN NAD TO ACHIEVE 2ND NATIONAL BIODIVERSITY ACTION PLAN

WINDHOEK-- Namibia needs about three billion Namibian dollars (about 209 million US dollars) to fully achieve the Second National Biodiversity Strategy and Action Plan of 2013 to 2022, says Deputy Minister of Environment and Tourism, Bernadette Jagger,

The current expenditure is slightly more than one billion NAD per year, she said at the Resource Mobilization for Biodiversity Conservation Project Stakeholders Dialogue here Tuesday.

She emphasized that the value of ecosystem services in Namibia exceeded 13 billion NAD per year, noting that Namibia's key ecosystem services include livestock, ground and surface water, fish, soil formation and composition, chemical condition of fresh and saltwater, global and regional climate regulations, tourism and recreation, and spiritual interactions.

She added that many of these services are facing pressure from habitat change, pollution, invasive species, climate change, illegal use, and exploitation.

"The strategy aims to identify and implement a range of innovation financing instruments that can increase revenue and funding towards biodiversity conservation and broader environmental protection," she said.

Jagger further noted that through a consultative process of the strategic plan, the identified biodiversity financing instruments included raising park entrance fees, identification and introduction of environmental levies for reinvestment into environment protection, eco-labelling, funds raised from lotteries and gambling, and leveraging public and donor funding.

Source: NAM NEWS NETWORK