Celebration of BIOFIN DAYApr 22, 2017
22 April, Bangkok – Three days of celebration for BIOFIN Day kicked off today to raise awareness about conserving Thailand’s biodiversity and introduce the Biodiversity Finance Initiative (BIOFIN) to various stakeholders engaged in strengthening biodiversity management in the country.
The aim of the conference is to raise national consciousness on the issue of biodiversity. It is evident that there is a lack of support and funding for the national biodiversity expenditure, as there is a price ceiling. This has led to a deficient funding, which makes it difficult for organizations to implement policies to help preserve and/or protect the environment. This international issue has led to a lack of awareness on the biodiversity and its importance in our daily lives.
Thailand is recognized as a country with abundant biodiversity resources which are sources of livelihood and economic growth of the country. An estimated that 8% of plant species and 10% or coral species worldwide are found here. The country houses around 141 species of indigenous vegetables and 1,500 herbal plant species which are now used in the manufacturing of traditional Thai medicine. Unfortunately, the country has generated its revenue on the expense of its resources.
The 3-day-long BIOFIN DAY celebration, ended on Monday April 24, was part of the Biodiversity Finance Initiative (BIOFIN), a global partnership addressing the biodiversity finance challenge, which Thailand is one of 30 countries taking part in the partnership. Managed by the United Nations Development Programme (UNDP), BIOFIN provides an innovative methodology enabling countries to measure their current biodiversity expenditures and identify finance solutions to bridge their national biodiversity finance gaps.
The celebration, co-hosted by UNDP, the Royal Plant Genetic Conservation Project, the National Economic and Social Development Board, the Office of Natural Resources and Environmental Planning and Policy, aimed to raise public awareness about biodiversity loss and the critical need to raise and manage finances for biodiversity and ecosystem conservation in Thailand and across the globe.
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