27 September 2013
Billions of dollars are required every year to protect the world’s biodiversity.
Hence, the ground reality is that the paltry annual amounts the states receive as part of Project Tiger are clearly insufficient to address the scale of protection needed by our forests. Moreover, in view of the deficit situation in the country, the prospects of sufficient funding for future forest conservation efforts look bleak.
Like everything else in life, time is a concern here because the longer we wait, the more forests we lose. We cannot wait for the last tree to be cut before thinking about conservation.
To obtain, in a timely manner, the scale of finance needed to combat climate change, protect and manage forests, and maintain the country’s natural capital, a mutually beneficial engagement with the private sector is a must.
Read more from the Business Line here.