Use of cookies: We use cookies to optimize our website for you and to be able to improve it continuously. By continuing to use the website you agree to the use of cookies.
For more information on cookies, please see our privacy policy
A new lifeline for wildlife conservation finance – GEF
What do capital markets have to do with biodiversity? Until now, very little. This changed this week with the launch of a landmark Wildlife Conservation Bond or “rhino bond” that offers a payout linked to the protection of black rhinos, a critically endangered species whose health is essential to the ecosystems in which they live. The bond will support South Africa’s conservation of black rhinos in two of their strongholds in the country: the Addo Elephant National Park and the Great Fish River Nature Reserve.
Photo credit: nwdph/Shutterstock
The Wildlife Conservation Bond, issued by the World Bank with funding from the Global Environment Facility, is not just another financial product. It is a game-changing innovation that can direct funding to nature reserves and protected areas whose budgets have been stretched by the coronavirus pandemic, a drop in tourism, and recent fiscal strains.
While there is growing awareness about the need to protect wildlife for the health of the planet, most investment in nature today comes from national and sub-national governments and, to a lesser extent, from development banks, international NGOs, private foundations, and international agencies. Private sector actors, financial intermediaries, and institutional investors are absent. Large investors and financial institutions have largely avoided this space to date because of its risk/return profile. The business of protecting nature is long term and involves uncertainties that can be unfamiliar to investment managers. On top of it all, there is a perception that investments in nature may not be profitable.
The five-year rhino bond, which raised $150 million in its March 23, 2022 issuance, has changed this story. It is a combination of existing financial products – a bond with an excellent credit rating (AAA for World Bank issued bonds), paired with a performance-based grant funded by the GEF which results in a new financial structure that can successfully harness investment from capital markets to directly support endangered species conservation.
At the end of the life of the bond, investors will receive back the principal (by the safest type of issuer you can find) along with a variable payout depending on the rate of black rhino population growth in the two target areas in South Africa. That variable payout or success payment is financed by the GEF.
In the worst-case scenario, if the rhino population growth is flat or negative, investors will receive principal repayment at maturity, with no success payment. In the best-case scenario, if the rhino population grows above 4 percent, investors will receive the principal amount back and the success payment funded by the GEF. In intermediary outcomes, with population growth between 0 and 4 percent, the success payment will increase by fixed amounts over the life of the bond in a step-up fashion.
In all cases, the bondholders will be promoting efforts in biodiversity conservation. This is because, in exchange for the potential success payment at maturity, investors agree to forego the coupons a traditional World Bank Group bond would pay. Those foregone coupons are the source of financing for the conservation activities on the ground in the two parks selected for this project. These activities are designed not only to aim for black rhino population growth of at least 4 percent, but also to improve the management of over 150,000 hectares, reduce poaching and provide over 2,300 jobs for local communities in and around both protected areas – a welcome boost in a region severely impacted by COVID-19.
The bond issuance followed earlier work to identify suitable parks, explore the financial features of the bond, and establish the types of conservation activities that should be financed to meet the black rhino population growth goals. This product development phase work under the $4.5 million Rhino Impact Investment Project was funded by the GEF and led by UNDP in partnership with the Royal Foundation, the United Kingdom’s Illegal Wildlife Trade Challenge Fund, and the Zoological Society of London.
It also builds on the GEF’s support for other capital markets transactions, including the first sovereign blue bond issued by the Seychelles Government, issued in 2018 in collaboration with the World Bank to increase investment in marine protected areas and more sustainable fisheries. Another example is a project approved by the GEF Council in December 2021 to provide partial credit guarantees in collaboration with Corporacion Andina de Fomento for the issuance of two green bonds in the capital markets of Peru and Ecuador aimed at sustainable land use and biodiversity conservation in prioritized territories of the dry forests in these two countries.
These are among many efforts by the GEF to harness private sector financing for environmental protection through its Blended Finance initiative, also called the Non-Grant Instrument program, which aims to show how innovative finance can work to combat global environmental degradation.
The rhino bond is an example of how thinking out of the box and collaborating across institutions can result in an attractive investment opportunity that can be scaled for wide benefit. Donors can work jointly with financial institutions, corporates, or other entities with good credit ratings to package products that can achieve the risk/return profile needed for investors. Ultimately, this initiative could be replicated in other parks to protect additional rhino populations as well as other umbrella species whose threatened status is consequential for all of us.
At the 26th IUFRO World Congress in Stockholm from 23-29 June 2024, the booth hosted by the Scientific and Academic College of the Congo Basin Forest Partnership (CBFP) provided an opportunity for Crispin Ilunga-Mulala Mushagalusa, a PhD student at the University of Liège (Gembloux Agro-Bio Tech), to present his research as part of the UFA - Reforest project (Reforestation in the Forest Management Units of Cameroon).
This study addresses the need to explore the attitude and perception of local residents toward wildlife and conservation. Questionnaires, surveys and field observations were used in data collection. A total of 400 people was conveniently selected in 16 villages from October to December 2015. Data analysis relied mainly on factor analysis and structural equation modelling in SPSS 21 and Smart-PLS software.
The objective of this side event on 4 June 2024 was move away from rapid conflict mitigation and prevention towards to holistic and integrated coexistence programs between human and forest elephants in rainforest of the Congo Basin.
The theme for International Youth Day 2024 (12 August) is “From Clicks to Progress: Youth Digital Pathways for Sustainable Development.” This theme highlights the key connection between digitalization and accelerating the progress of the Sustainable Development Goals (SDGs), emphasizing the crucial contributions of young people in this transformative process.
On 23 December 1994, the United Nations General Assembly decided, in its resolution 49/214, that the International Day of the World’s Indigenous People shall be observed on 9 August every year. The date marks the first meeting, in 1982, of the UN Working Group on Indigenous Populations. The International Day observance will take place online on Friday, 9 August 2024. This year’s theme is: Protecting the rights of Indigenous Peoples in Voluntary Isolation and Initial Contact.
CBFP, which is one of the oldest Type 2 partnerships in the United Nations system, registered in the ECOSOC and UN DESA partnerships, and strengthened in SDG 17, is calling on its partners to make the conclusions of the High-Level Political Forum for Sustainable Development their own... the call is crystallised in advocacy for Strengthen the means of implementation and revitalize the global partnership with diverse stakeholders for sustainable developmen. In Fact, Partnerships are the glue for SDG implementation and is been essential to making the Agenda a reality.
This hybrid event aims to set the stage for the 2025 IYC, which will be officially launched during the ICA Global Cooperative Conference, scheduled for November 25-29, 2024, in New Delhi, India. The New York event will serve as a platform to deepen the theme of IYC2025, unveil the media package, discuss the UN resolutions outlining the modalities for the IYC launch.
Side event organized by the Sustainable Wildlife Management Programme on the 04/06 from 8h30 to 9h30 am. United Nations member states are committed to reducing hunger, improving health, and conserving natural resources through the Sustainable Development Goals. Additionally, the Kunming-Montreal Global Biodiversity Framework aims to conserve 30% of terrestrial and marine areas by 2030, promoting sustainable wildlife management and equitable benefits. However, in Central Africa, the unsustainable wild meat trade threatens food security and biodiversity, making these goals challenging to achieve.
The Sustainable Wildlife Management (SWM) Programme presented its innovative Legal Hub at the recent 20th Meeting of Parties (MoP20) of the Congo Basin Forest Partnership. This event was held in Kinshasa, Democratic Republic of the Congo (DRC), from 3 to 5 June, 2024. A specific side-event titled "A Tool to Connect Different Sources of Law" showcased the Legal Hub’s critical role in enhancing the legal frameworks governing wildlife management across multiple countries, including the sub-region.
In this 20th meeting, the consortium comprising the International Institute of Tropical Agriculture (IITA), RIKOLTO, and the Catholic University of Bukavu (UCB) actively participated in the sessions held from June 3 to 5, 2024, at the Pullman Hotel in Kinshasa. During a panel focused on agroforestry and agribusiness, the consortium presented solutions for sustainable and effective land management around the Itombwe Reserve and the Kahuzi-Biega National Park through two main themes...
A platform named “Congo Basin Monitoring and Evaluation Database” combining several key sources of information has been developed by WWF to support the management and development of conservation and research projects. This tool has the advantage of being transversal to several possible topics and themes in the field of natural resource management.
Approximately 5% for Central African countries and the bulk for other geographical zones... towards an "Accelerator for the preservation of the Congo Basin forests and peripheries" towards Belém COP 30 Climate post Glasgow?
... WRI’s Global Restoration Initiative and researchers from Land & Carbon Lab have partnered with Meta to develop a groundbreaking AI foundation model that we’ve used to produce the world’s first global map of tree canopy height at a 1-meter resolution, allowing the detection of single trees at a global scale...
The 20th CBFP Meeting of Parties (MoP20) held in Kinshasa, DRC from 3 to 5 June 2024 The Co-Facilitation of the Republic of France and Gabon for the Congo Basin Forest Partnership (CBFP) organised five high-level round tables, on different topics during the MoP20.
The 20th Meeting of the Parties (MOP20) was a high point, marked by the participation of eight ministers from the Congo Basin and more than 600 participants, illustrating the importance and scope of our partnership. The CBFP proved once again that it is an essential forum for dialogue and cooperation. The diversity and commitment of the stakeholders present were a driving force for emulation and fruitful collaboration. Finally, the exemplary cooperation with the Congolese authorities greatly contributed to the success of this meeting.
Kinshasa, MOP 20 of the CBFP At the end of the proceedings, among other major resolutions, Ms Cécile Ndjebet, Champion of Forests and Champion of the Earth, Co-Leader of the CBFP civil society college, was elected by consensus to head the "Regional Civil Society Coalition for Forests and the Environment of the Congo Basin".
The Scientific and Academic College of the Congo Basin Forest Partnership (CBFP) is actively participating in the 26th IUFRO World Congress from 23 to 29 June 2024 in Stockholm, Sweden, with a booth located at A01:01 in Exhibition Hall A at Stockholmsmässan, Mässvägen 1, 125 80 Stockholm. Over the course of the week, a series of workshops will be held to present the platforms of forestry science in the Congo Basin and highlight the latest research, innovations and applied sciences.
10 June 2024: ITTO has urged more attention to the need for capacity building and training in the Congo Basin to ensure that the region’s vital forest sector and timber industry will be able to meet the requirements of the European Union Deforestation Regulation (EUDR) and other international trade measures.
It is with great respect and a deep sense of responsibility that we, the Africa Climate Action Initiative (ACAI), support the 20th Meeting of the Parties of the Congo Basin Forest Partnership (RDP20) which will be held from 3 to June 5, 2024 in Kinshasa, Democratic Republic of Congo. This approach aims to strengthen our collective commitment to the sustainable management and conservation of the Congo Basin, a critical global resource, and to catalyze transformative actions that align with a shared vision for a sustainable and prosperous future.
The USAID FABS Project is organising 4 captivating webinars in French and English on the theme of nature-based tourism in the Congo Basin. These events will take place on Tuesday 11 and Thursday 13 June 2024. The aim of these webinars is to communicate the challenges and opportunities of sustainable tourism in Central Africa, while promoting mutual learning for the development of tourism in protected areas. The sessions will focus in particular on studies carried out in the DRC, Gabon, Cameroon, the Central African Republic and Congo Brazzaville.
Libreville, Gabon 22 April 2024, Rainforest Trust has officially joined the Congo Basin Forest Partnership (CBFP). Rainforest Trust is now one of 129 member countries and organizations working together in the Congo Basin Forest Partnership to promote sustainable resource management, combat climate change and its impacts, improve living conditions and protect the unique biodiversity of Central Africa’s tropical forest.
The French-Gabonese Co-Facilitation of the Congo Basin Forest Partnership (CBFP) is pleased to inform you that the 20th Meeting of Parties (MoP20) of the Congo Basin Forest Partnership will be held in Kinshasa, Democratic Republic of the Congo, from 3-5 June 2024. If you wish to attend the 20th Meeting of Parties (MoP) of the CBFP and related events, please register before 05 May, 23:59, 2024 by completing the form below and clicking on the button “register”. It will not be possible to attend the meeting without a properly completed registration procedure.
The 20th Meeting of the Parties to the CBFP (MOP20) will be held in Kinshasa, Democratic Republic of Congo, from 3 to 5 June 2024. The MOP20 is organised by the Co-Facilitation of the French and Gabonese Republics of the Congo Basin Forest Partnership (CBFP). Please find the provisional programme of the 20th Meeting of the Parties of the CBFP (MOP20).
The French-Gabonese Co-Facilitation of the Congo Basin Forest Partnership (CBFP) is pleased to inform you that the 20th Meeting of Parties (MoP20) of the Congo Basin Forest Partnership will be held in Kinshasa, Democratic Republic of the Congo, from 3-5 June 2024. If you wish to cover the 20th Meeting of the Parties (MOP) of the CBFP and associated meetings, please register before 16 May 2024 by filling in the form below and clicking on the "register" button.
The "Youth Forum for the Forests of Central Africa 2024" is scheduled to take place over 2 days from 31 May to 1 June in Kinshasa. It will bring together 150 young people from Central Africa and Europe who are committed to protecting forests and preserving the environment. This forum is organised by the Franco-Gabonese facilitation of the Congo Basin Forest Partnership (CBFP), a 128-member initiative that serves as a platform for multi-sectoral dialogue on forest conservation. The Youth Forum will be a preliminary event to the CBFP Meeting of the Parties, which will take place from 3 to 5 June in Kinshasa, and will serve as a general assembly for its members.
Abuja, 19 April 2024, His Excellency Alhaji Balarabe Lawal, Federal Minister of the Environment of Nigeria and His Excellency Jules Doret Ndongo, Minister of Forestry and Wildlife of Cameroon sign a Memorandum of Understanding on the conservation of transborder ecosystems and the sustainable management of forest and wildlife resources along their common border of more than 1,500 km.
The Facilitation of the French and Gabonese Republics is pleased to launch a call for proposals to host side events during the 20th Meeting of the Parties (MOP20) in Kinshasa, Democratic Republic of Congo, from 3-5 June 2024. In line with the themes of MOP20 of the CBFP, side events provide opportunities for information exchange, dialogue, cooperation and the creation of synergies between CBFP partners. Deadline for submissions: 19 April 2024. Applicants for selected proposals will be contacted on 30 April 2024.
The Co-Facilitation of the French and Gabonese Republics of the Congo Basin Forest Partnership (CBFP) is pleased to inform you that the "Signing Ceremony of the Framework Cooperation Agreement on the Conservation of Transboundary Ecosystems and Sustainable Management of Forest and Wildlife Resources between the Governments of the Federal Republic of Nigeria and the Republic of Cameroon" will take place on Friday 19 April 2024 at 10:00 am at the Continental Hotel in Abuja, Nigeria. In conjunction with this signing ceremony, a technical round table on the implementation of the framework cooperation agreement on the conservation of transboundary ecosystems and the sustainable management of forest and wildlife resources between Nigeria and Cameroon will be held at 12 noon on Thursday 18 April at the same hotel.
The Central African Forests Commission (COMIFAC) is deeply saddened to announce the death of Mrs Sylvie Louisette NGO YEBEL Epse FOUNGA, Communications Expert of Cameroonian nationality, at the COMIFAC Executive Secretariat. She was murdered and her body found on Sunday 7 April 2024 at around 8.30 am in Yaoundé, Cameroon.
The CBFP Youth Forum and Meeting of Parties will take place from 31 May to 5 June 2024 in Kinshasa and will bring together more than 700 stakeholders committed to preserving the forests of the Congo Basin. The Meeting of Parties and the Youth Forum will be co-chaired by Ambassador Christophe Guilhou (France) and Ambassador Flore Koumba Pambo (Gabon) and the current President of COMIFAC, His Excellency Mr Prosper Dodiko, with the participation of senior representatives of the DRC.
CIDT wishes to recruit an enthusiastic, people-centred international development professional to join our dynamic, multidisciplinary team. To be considered for this post you will have an understanding and experience of global sustainable development work and be prepared to work both in UK and overseas. You will be qualified to master’s level in one or more of the following core areas of our work: Global Sustainable /International development/ Development Studies, Development Effectiveness, Gender and Social Inclusion, Sustainable Livelihoods, Natural Resource Management, Forest Governance or Education and Development and have expertise in the related fields.
This brief note sets out the principle of an ecological bonus-malus mechanism, designed to change behaviour by modifying the relative prices of products, while aiming for budget neutrality (no tax losses for the State). It applies in particular to the agricultural and forestry sectors, but can also be applied to other areas. We are currently working with various colleagues on the timber and cocoa sectors, and on an automated simulator with a user-friendly interface that can be easily used by government departments and their partners who would like to test the tool and, if necessary, implement it.
The Co-Facilitation of France and Gabon of the Congo Basin Forest Partnership (CBFP) is pleased to announce the selection of COMIFAC by the CBD Secretariat as a centre for technical and scientific cooperation for the implementation of the Convention on Biological Diversity and the Global Framework for Biodiversity in Central Africa. With the highest score in Africa, COMIFAC ranks 4th in the world. The co-facilitation congratulates COMIFAC on this major distinction.
On Tuesday 12 March 2024, from 16:30-18:00 CET, the first dialogue between the College of Donors and the Scientific and Academic College (SAC) of the CBFP was held in virtual form. Over 70 people participated actively in the dialogue. The aim of the meeting was to promote cooperation as well as scientific and academic dialogue on the forests of the Congo Basin as part of the implementation of strategic priority 1 of the 2023-2025 roadmap of the CBFP.
