As part of the new IUCN Green List development plan, IUCN Global Protected and Conserved Areas Programme (GPAP) and the World Commission on Protected Areas (WCPA) have established a ‘finance working group’ to help mobilize the Green List Standard and programme to support protected areas financing. This theme is a new strategic direction for the development, further implementation and scaling-up of the IUCN Green List by 2030.
The initial design of the new NFT product to shortly be made available in support of conservation on Cousin Island, a Green List candidate site in Seychelles.
Photo: Nature Seychelles.
The focus of the finance working group will be to ensure that the IUCN Green List programme is designed and implemented in a cost-effective way. The group will guide efforts that seek to bring investment into the conservation sector, in direct support of protected and conserved areas’ operations and performance. New and additional finance sources will be prioritized as a way to demonstrate the added-value of the Green List programme to the participating sites and their governing agencies, but also to investors, both public and private.
As well as advising on better use of existing and traditional financing sources, including improved financial planning and budget preparation, the group will seek ideas, expertise and innovation around non-traditional financing.
Early ideas to explore include developing and accessing ecosystem services markets, including carbon mitigation, public health investments, and mobilizing the certification and validation process of the Green List to provide impact and outcome verification linked to financing mechanisms.
Of the more innovative options being put forward, a Green List bond is proposed for further exploration and development, initially working with Conservation Alpha on a concept and market analysis.
Another ‘next generation’ idea is to explore financial technology, including digital and crypto-based market opportunities, where participating Green List sites can join a digital exchange or marketplace to directly access investors and financiers interested in their products and services, facilitated by IUCN.
The inspiration behind this idea comes from Nature Seychelles and the Porini Foundation, who are already working with the IUCN Tech4Nature partnership and the Design Factory to develop the world’s first ‘non-fungible token’ or NFT. The NFT will allow investors to support island conservation and species monitoring on Cousin Island, a new Green List candidate protected area.
As the Green List development plan goes through its final consultation, so the finance working group will also take shape and evolve. If you are interested to support these efforts, please get in touch!
