Designing a global mechanism for intergovernmental biodiversity financing

Abstract

The Convention on Biological Diversity and the Nagoya Protocol display a broad international consensus for biodiversity conservation and equitable benefit sharing. Yet, the Aichi biodiversity targets show a lack of progress and thus indicate a need for additional action such as enhanced and better targeted financial resource mobilization. To date, no global financial burden-sharing instrument has been proposed. Developing a global-scale financial mechanism to support biodiversity conservation through intergovernmental transfers, we simulate three allocation designs: ecocentric, socioecological, and anthropocentric. We analyze the corresponding incentives needed to reach the Aichi target of terrestrial protected area coverage by 2020. Here we show that the socioecological design would provide the strongest median incentive for states which are farthest from achieving the target. Our proposal provides a novel concept for global biodiversity financing, which can serve as a starting point for more specific policy dialogues on intergovernmental burden and benefit-sharing mechanisms to halt biodiversity loss.