Guyana is building momentum behind efforts to raise awareness and mobilise financing for biodiversity conservation through the Global Biodiversity Alliance (GBA). Since being launched last year by President Dr Irfaan Ali, with 17 founding members, the GBA is now 125 organisations strong.
Lead Climate Negotiator, Dr Pradeepa Bholanath, said this marks the beginning of the next chapter of Guyana’s environmental leadership.
Speaking on the June 14 episode of the Starting Point Podcast, Dr Bholanath said Guyana’s Low Carbon Development Strategy (LCDS), specifically the 2009 version, focused heavily on the climate benefits provided by forests through carbon storage. She said Guyana was able to monetise these forest services and the intent is to do the same for biodiversity, a promise of the LCDS 2030.
She noted that the Global Biodiversity Alliance is also dedicated to bringing that vision of LCSS 2030 to life, adding that the world is already paying attention and answering Guyana’s call.
According to Bholanath, several major development finance institutions have joined the alliance, including the Inter-American Development Bank (IDB), the World Bank and the Caribbean Development Bank (CDB).
“That kind of momentum really is opening a lot of new frontiers in terms of looking at ways in which we can finance biodiversity conservation,” she said.
According to Bholanath, the next major step will be a biodiversity financing summit planned for the last quarter of this year in Guyana. President Ali is expected to announce the date soon.
“So that will see the conversation move from beyond science to now practical undertakings in terms of how do we mobilise financing to be able to get biodiversity conservation activities receive more resourcing,” she said.