How can Green Finance better serve local biodiversity solutions?

In September 2023, The Long Run hosted a Green Finance event at the Mandala Club in Singapore. With 40 Long Run members travelling to Singapore for an Annual Meeting at Global Ecosphere Retreat member Nikoi Island, it was an excellent opportunity to get conservationists and impact investors, philanthropists, and green finance experts together to start a critical conversation — how do we get more finance channelled to ground level biodiversity projects?

Alongside The Long Run members, attendees joined from the Asian Species Action Partnership, Conservation International, Mandai Nature, World Business for Sustainability Development, Schroders, and the Earthshot Prize.

The Long Run members meet Impact Investors and Philanthropists at The Mandala Club, Singapore.

An Urgent Need for Nature Restoration 

Biodiversity is declining faster than at any other time in human history. For example, we’ve lost 85% of wetlands and 50% of live coral cover on coral reefs, and more than 41,000 animals are close to extinction. Thankfully, we now have a global target signed by 196 countries to protect 30% of land, freshwater, and ocean globally while respecting the rights of indigenous peoples and local communities by 2030. We’ve got a long way to go in not very much time, and so every sector needs a place at the table.
The private sector, particularly SMEs, which comprise 90 per cent of the world’s businesses, is well-placed to drive change. They are agile, responsive, and often embedded in local context. For example, through their impressive commitment to the 4Cs, The Long Run members demonstrate that harmonising business with the needs of nature is not just a possibility but the most strategic approach. Collectively, members protect over 23 million acres of ecosystems and positively impact 750,000 people.
Finance plays a pivotal role in nature restoration, and yet funding across the conservation sector is a huge challenge, especially since most expect it to be done on the cheap. Whether through private enterprises or foundations, money often doesn’t reach the most dynamic players in the conservation space – those whose impacts extend well beyond their boundaries. This is the challenge we gathered to discuss and initiate ideas to bridge the gap.

Living on the Frontline of the Biodiversity 
and Climate Crisis 

Two Long Run members presented on the state of nature in their destinations, often on the frontline of the climate and biodiversity crisis. Cecelia Mueni from The Safari Collection (Kenya) explained how the tourism business has been working with the Westgate Community, home to 10,000 people and 92,000 acres, since 2008. She highlights how investing for the future is critical, particularly due to growing concerns of prolonged drought. The climate crisis is having a genuine and urgent impact on the way of life for this pastoral community.
Moving across to Sri Lanka, Chamintha Jayasinghe, founder of Ayu in the Wild, spoke about Sri Lanka, one of the most biodiversity-rich nations in the world where conservation is hugely underfunded. Although the World Bank funded a two-year project for restoration management, there is no scope to follow research findings with concrete action. It’s a situation echoed elsewhere.

“Climate change is now receiving much more funding at a government level, but biodiversity loss is not yet getting the same recognition.”

— Nerissa Chao, Asian Species Action Partnership.