Using economic tools for biodiversity conservation

Promoting and developing economic opportunities that are compatible with and which complement the conservation and sustainable use of biodiversity; and creating and implementing incentives that support the conservation and sustainable use of biological diversity.

Encourage the development of indigenous and traditional livestock and crop utilisation programmes, natural product industries, and agricultural programmes which show economic potential and which create economic and other incentives for the retention, rehabilitation, maintenance and management of natural habitats.

The use of economic instruments are considered important mechanisms to be used for the conservation and sustainable use of biodiversity, and the promotion of new uses of biological resources.

Examining the economic aspects of biodiversity is becoming increasingly important. Innovative ways must therefore be found to add to and reinforce the fundamental economic value to biodiversity, and to promote and develop economic activities that are compatible with and which complement the conservation and sustainable use of biodiversity.

In some instances, such as the informal medicinal plant trade, a thriving industry exists but the importance of traditional medicine for primary health care is poorly recognised. Consequently, few measures are in place to ensure that resources are harvested sustainably, that the cultivation of harvested species is promoted, and that the local economic value of such resources is maximised. In other cases, such as biodiversity prospecting, opportunities to reap benefits are not optimised because of the absence of an enabling policy framework that controls access to genetic resources and sets conditions for benefit-sharing and sustainable use. This uncertainty is a major deterrent to potential investors. And in industries such as tourism, the full spectrum of benefits arising from tourism-related activities are often only partially realised.