Greater funding needed for ecosystem services: Yamuna

REWARDING communities for ecosystem services requires greater direct funding support, an official says.
Climate Change and Development Authority (CCDA) managing director Ruel Yamuna said ambitious biodiversity and climate change targets were proposed but could not be achieved in isolation. “We need collaboration between stakeholders, coordination between departments and partnerships with private sectors,” Yamuna said. “I call upon all businesses to reduce their environmental impact both on biodiversity and climate. “I encourage new innovative businesses that contribute to lowering emissions, strengthening biodiversity and make us less reliant on non-renewable resources. “I am pleased to support the efforts to establish a National Biodiversity and Climate Fund.” Yamuna said this independent fund would be managed by a multi-stakeholder board of directors.He said the global experience of United Nations Development Programme was being utilised to ensure that the fund was established under global best practices, with full transparency, hence, all development partners were urged to support the initiative. Regarding the Environment and Climate Change Emergency Summit that he was speaking at last week, Yamuna said such events had the potential to highlight how new conservation and climate-compatible business opportunities could drive Papua New Guinea’s long-term economic prosperity, while supporting livelihoods and protecting the environment at the same time.
He said communities relied on resources provided by the environment which, if not managed sustainably, the world the future generation would inherit was threatened.