LocationsOpening Remarks by Mr James George at the 9th International Conference on Eco Compensation and Payments for Ecosystem Services
November 23, 2023
UNDP Deputy Resident Representative in China, James George, delivers opening remarks at the 9th International Conference on Eco Compensation and Payments for Ecosystem Services in Gansu, China.
Excellencies, good morning,
On behalf of the United Nations Development Programme in China, it’s a pleasure to speak at the 9th International Conference on Eco Compensation and Payments for Ecosystem Services.
Our global economy and the health of our planet are inextricably linked:
· More than two billion people around the world rely directly upon nature for their livelihoods;
· Half of all targets for the Sustainable Development Goals – to protect people and planet by 2030 – depend on ecosystem services, which contribute to more than half of global GDP;[1]
· And within the Asia-Pacific region, 63 percent of GDP is at risk from nature loss
As such, it is an economic imperative as much as a moral one to forge robust policies that can address environmental degradation, and embed the prioritization of nature within the heart of our financial systems.
To this end, financial mechanisms such as eco-compensation and payments for ecosystem services have important potential, and this potential has been demonstrated here in China.
For example, the national park system established in 2017 has worked to enhance ecological protection, not only by expanding protected areas, but by compensating local communities for their stewardship of these areas, thereby strengthening conservation efforts in the long-term.
UNDP has also worked alongside China on several initiatives, including a project on payment for watershed services and biodiversity protection in the Chishui River Basin. This initiative has been pioneering a market-driven mechanism fostering agreements between those who offer and those who benefit from ecosystem services.
Continuing to build on these efforts and further exploring innovative financing strategies will be key in helping to direct greater funds towards biodiversity protection – funds which are desperately needed.
"Half of all targets for the Sustainable Development Goals – to protect people and planet by 2030 – depend on ecosystem services, which contribute to more than half of global GDP."
Globally, the annual financing gap to protect biodiversity by 2030 is around $700 billion.
With the support of GEF, UNDP's flagship BIOFIN program is working to advance progress in this regard, across 41 countries around the world, with plans to grow to over 90.
In China, numerous provinces, have already been actively engaging with the BIOFIN program including Shanghai and Shandong. This is a positive sign of growing commitment among provincial administrations to adopting innovative methods to secure resources for biodiversity, including payments for ecosystem services.
Moving ahead, we look forward to working together with all stakeholders to expand financing for nature, and fulfil the aspirations of both the Kunming-Montreal Global Biodiversity Framework and Paris Agreement.
In closing, I want to thank and congratulate the National Development and Reform Commission of the People’s Republic of China (NDRC), the Asian Development Bank (ADB), and the Gansu Provincial Government for successfully organizing this vital forum.
Thank you for the opportunity to contribute to this dialogue. Through collective action, we can still reverse the degradation of our ecosystems, chart a path towards a greener and more sustainable future, and ensure that humanity and the natural world can live in harmony.
I wish the conference a complete success. Thank you!
[1] http://www3.weforum.org/docs/WEF_New_Nature_Economy_Report_2020.pdf
Note: While Swiss Re puts the value of global ecosystems at approximately $42 trillion ($41.7 trillion), versus WEF’s $44 trillion, the overall picture remains the same: half the world economy depends on ecosystems staying intact.
