Biodiversity Economy and Investment Indaba concludes with a programme of action

28 March 2024

The Minister of Forestry, Fisheries and the Environment, Ms Barbara Creecy, would like to thank all the stakeholders for their invaluable contributions to the National Biodiversity Economy Strategy received during the Biodiversity Economy and Investment Indaba.

Working together, stakeholders developed a programme of action to address the challenges in the biodiversity sector. They identified key interventions which include sourcing financial support, gaining access to land for biodiversity projects, sourcing human capital development and scientific support, research, and securing market access for their products.

"Participants emphasised that an effective biodiversity economy must be based on growing and sustaining conservation land and seascapes that can sustain both non-consumptive and consumptive uses," said Minister of Forestry, Fisheries and the Environment Ms Barbara Creecy.
"Participants also argued that there are diverse successful approaches and enterprises associated with the biodiversity economy, many of which leverage value from otherwise marginal production land- and seascapes, and this diversity enhances ecological resilience and offers further potential for growth" the Minister added.

In the South African context, many participants said that the Biodiversity Sector as a whole urgently requires transformation. This transformation must ensure the meaningful and equitable inclusion of rural communities and previously disadvantaged individuals into the biodiversity economy, and biodiversity conservation and sustainable use in general.

During commission discussions, delegates emphasized the importance of government simplifying their access to support such as training, scientific research, financing, land, potential investors and markets through the establishment of a "one stop shop".

This idea, included in the programme of action arising from the indaba, must aim to integrate all potential support and information through a single window. Participants felt this would help cut red tape they face when looking for support from government and NGOs of donor agencies.

Participants committed to working together to research and document the biodiversity landscape so that information about financing, land availability, scientific services and capacity building and training was collected and available to those in need.

Participants also agreed more work needed to be done to enhance the project pipeline and set up additional bidding sessions with a range of potential funders and investors.

The department urges all stakeholders to review the NBES and offer further insights before the closing period. All submissions received will be thoroughly assessed to compile a comprehensive comments and response report (CRR), ensuring that every perspective is accounted for in the refinement process.

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