Banking on protected areas to promote a green recovery
Trade for Development News
August 17, 2021
The COVID-19 pandemic has led to a deep global recession in which much economic activity has declined, and one of the hardest hit sectors is tourism. In tourism-dependent economies in Africa and the Caribbean, for example, GDP is projected to shrink by 12%.
The economic toll is occurring at a time when biodiversity is imperiled globally. The 2020 Living Planet Index reported a 68% average decline in birds, amphibians, mammals, fish and reptiles since 1970. Biodiversity matters because of its intrinsic worth, and because it underpins human wellbeing and supports economic activity. Protected areas, which are key to any global effort to contain biodiversity loss, attract eight billion visitors in a typical year.
How can countries address the intersecting calamities of a pandemic in a time of biodiversity loss? Moreover, can countries afford to bring even larger areas under conservation when the need for economic recovery is so pressing, fiscal spaces are tight and so many development challenges persist?