Online biodiversity monitoring in pipeline
Amulti-sectoral initiative is forming to develop an online biodiversity monitoring and evaluation (M&E) system to meet the Philippine targets for biodiversity conservation.
The United Nations Development Programme (UNDP) through the Biodiversity Finance Initiative (BIOFIN) together with the Department of Environment and Natural Resources’ Biodiversity Management Bureau (DENR-BMB), and ADEC Innovations Corporation committed to work together to develop the online system.
The platform is one of BIOFIN Philippines’ 21 finance solutions all aimed at narrowing the huge financing gap for the Philippine Biodiversity Strategy and Action Plan (PBSAP) implementation, the country’s roadmap to sustainably manage its biodiversity.
It will track the progress of the implementation of the PBSAP, while mobilizing resources from various mechanisms, such as corporate social responsibility, crowd-funding, diaspora or migrant philanthropy, and impact investment.
It is also envisioned to foster transparency and accountability on investments made for biodiversity thereby increasing both public and private sector participation to unlock capital towards sustainable biodiversity financing.
This is in the context that there is an estimated gap of almost R19 billion (US$349 million) in the annual budget from 2015 to 2028) for biodiversity efforts in the Philippines.
ADEC Innovations Corporation recognizes the importance of developing such a platform.
“We at ADEC Innovations see the value in developing this platform as a way to achieve the Philippines’ targets for biodiversity conservation,” said James Donovan, CEO of ADEC Innovations.