Protecting what is vital: Positive Conservation Partnerships
This initiative, launched at COP27, offers a political and financial “contract” to countries that agree to keep vital carbon and biodiversity reserves in their territory intact. These partnerships involve an investment plan for the protection of carbon and biodiversity reserves and aim to prevent deforestation.
The One Forest Summit brought progress on PCPs, in the form of a three-phase schedule.
- The political commitment phase. The countries with the most vital carbon and biodiversity reserves can commit to protect them with the support of the secretariat of the High Ambition Coalition for Nature and People (HAC). This is the first step towards generating much more significant finance from the international community.
- The implementing phase. This provides forest countries with financial resources and technological and scientific tools under the One Forest Vision partnership, as well as economic solutions via the 10by30 initiative.
- The compensation phase. This rewards services to the rest of the world: in return for their commitment, the international community will provide forest countries with more finance, as well as a compensation mechanism for the services provided, including carbon sequestration, by the preserved natural reserves. Based on rigorous monitoring of the implementation of these commitments and their results, the PCP initiative aims to create a compensation mechanism for the services provided by forest countries: committed States would produce “biodiversity certificates” that could be purchased by sovereign States or private actors as a positive contribution to the protection of nature.
Based on the recommendations of the Global Environment Facility, the aim will be to sketch out the form of this new innovative financing tool, tied in with carbon credits (one tree planted, one tree saved) and with a view to guaranteeing the full environmental integrity of a potential biodiversity certificates market.
Lastly, in order to swiftly initiate PCPs and to ensure tangible results by COP28 in Dubai, France, Conservation International and the Walton Family Foundation are announcing the creation of a first PCP contracts investment of €100 million.