In June 2022, the government of Colombia announced a Project Finance for Permanence initiative called Heritage Colombia as part of their long-term conservation plans, marking a major step along the way towards achieving Colombia’s 30x30 goals. The PFP brought together partners across the community, public sector and private sector, including the Moore Foundation, where the Andes-Amazon Initiative has successfully helped conserve over 400 million hectares in the Amazon since 2001. The momentum has continued in the months following the initial announcement, as Heritage Colombia secured funding support from the Green Climate Fund.
GCF, born from the Paris Agreement and the largest global fund dedicated to fighting climate change, supports developing countries as they pursue their sustainable climate goals. Heritage Colombia launched with $245 million USD in funding, and secured an additional $43 million USD from GCF. This PFP supports the protection of 32 million hectares of terrestrial and marine areas in Colombia and will benefit over 16 million people in a variety of ways, including enhancing water security, a top priority in Colombia. The project will also help limit emissions equivalent to removing nearly 10 million cars from the road for a year.
As countries across the world focus on addressing climate change and biodiversity loss, it becomes increasingly prudent to back innovative and proven financing tools like the Project Finance for Permanence. Adaptable to the needs and goals of each specific context, PFPs secure necessary policy changes and funding and bind them together in a single agreement. This ensures large-scale systems of conservation areas are well-managed, sustainably financed, and benefit the communities who depend on them. By implementing core strategies for durable biodiversity protection and climate change mitigation — including community engagement, sustainable finance mechanisms, policy, and capacity-building of local and national organizations — PFPs ensure long-term conservation.
“We are delighted to contribute to Heritage Colombia. This PFP’s early success was only possible because of the vision, funding commitment and hard work from several government and civil society partners working together to benefit the Colombian protected area system. It has been particularly important to secure funding from the Green Climate fund as it shows a recognition that biodiversity and climate are two sides of the same coin. Colombia has a great diversity of ecosystems and the highest diversity of birds in the world. Heritage Colombia will ensure the conservation of nature, the essential connectivity for the long term, and ecosystem function that is essential for climate mitigation and adaptation,” said Avecita Chicchon, Andes-Amazon Initiative program director.
The Enduring Earth partnership, which the Moore Foundation supports, hopes to deliver 20 PFPs by the end of the decade, and securing additional funding for Heritage Colombia is a vote of confidence in the approach. Continued support for sustainability as 2030 approaches is a promising sign that countries like Colombia can achieve their 30x30 goals. Maintaining funding for these proven tools will be critical to ensuring that countries will be able to effectively manage protected areas, reduce emissions, and help local communities adapt to the realities of climate change.
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