Building on the business case for biodiversity, Thailand aims to fill the financing gap for biodiversity by implementing the right scale and mix of financing solutions, enhancing traditional finance mechanisms and introducing innovative financing mechanisms.
The Plan looks forward to delivering a prioritised set of biodiversity finance solutions – seizing this opportunity to address thematic areas of intervention by recommending new partnerships and finance mechanisms for investing in biodiversity. The prioritised biodiversity finance solutions in the Plan are complementary and offer a combination of system and site level sustainable financing, policy changes, and other incentive mechanisms. This can be summarised as follows:
1. Sustainable Tourism Finance Solution: Increasing sources of revenue for safeguarding biodiversity (coral reef rehabilitation) and environmental management (waste management) through the sufficient management of established financial mechanism (the establishment of biodiversity conservation fund)
2. Wildlife and Protected Areas Finance Solution: Deployment of conservation vehicle license plates to support wildlife conservation in Thailand (with pilot for tiger conservation at the Western Forest Complex)
3. Government Budget Finance Solution: Enhancing effectiveness and biodiversity impact of local budgets in Thailand
4. Private Sector Finance Solution: Mobilising the private sector and impact investment in support of biodiversity
