Innovative Financing Key To Strengthening Biodiversity Management

Barnama

2 days ago

GENERAL
PUTRAJAYA, May 27 (Bernama) -- Innovative financial instruments must be actively explored and leveraged to strengthen biodiversity management in Malaysia, ensuring a balanced, prosperous and sustainable future for future generations.
Deputy Prime Minister Datuk Seri Fadillah Yusof, in a statement following his chairing of the third meeting of the National Biodiversity Council (MBN) today, called on all stakeholders to unite in strengthening policies and implementing high-impact initiatives for the country's biodiversity management.
The Energy Transition and Water Transformation Minister said the MBN had outlined a shared commitment to enhancing biodiversity governance in line with the need to ensure sustainable development based on future-oriented values.
'I believe that in pursuing socio-economic progress and exploring new sources of wealth, including mineral resources, we must ensure that environmental sustainability is not compromised.
'Biodiversity conservation requires substantial funding. Therefore, innovative financial instruments must be explored and more actively utilised,' he said.
Fadillah said biodiversity conservation is not merely an environmental issue but also a moral obligation and a shared responsibility of 'khalifah' (vicegerent of God) on Earth.
'The heartbreaking incident involving the death of a baby elephant on the Gerik-Jeli East-West Highway recently serves as a clear reminder that physical development must be undertaken with wisdom and consideration for the increasingly threatened habitats of wildlife,' he said.
He also expressed appreciation for the significant achievements resulting from collaboration between the Federal Government, state governments and communities, including the gazettement of over 350,000 hectares as new protected areas through the implementation of the Ecological Fiscal Transfer for Biodiversity Conservation (EFT).
Other key successes include the appointment of over 1,900 community rangers under the Biodiversity Protection and Patrolling Programme (BP3) to strengthen enforcement, as well as the establishment of the Malaysia Biodiversity Centre (MBC), which has been recognised as a national interest project eligible for special tax incentives.