Climate Home News
May 20, 2021
Germany has launched a $1 billion fund which aims to halt global biodiversity loss and provide long-term financial support for protected areas across three continents.
The launch comes after countries failed to meet internationally agreed 2020 targets to prevent the destruction of plants and wildlife.
The Legacy Landscapes Fund aims to mobilise enough funding from private and public donors to provide 15 years of financial support for 30 conservation areas.
At a launch event on Wednesday, Germany’s finance minister Gerd Muller said the fund would “provide lasting, reliable core funding for at least 30 biodiversity hotspots in Africa, Asia and Latin America”.
The German government and several private donors have invested the first $100 million in the fund which will be used for seven pilot projects in four African countries, Indonesia, Cambodia, and Bolivia. Funding will be used to pay park rangers, support local communities, fund surveillance and monitoring and maintain infrastructure.