There is consistent evidence that BioTrade business models can increase private sector involvement in the field of biodiversity conservation. Sales in BioTrade have increased to about 4.3 billion, showing its emergence as a solid green economic sector, especially in developing countries.
BioTrade has the potential to be a key pulling factor to address other emerging global environmental and poverty reduction challenges.
This has been recently recognised in CBD COP Decisions 12/L.25 and 12/L.27, where Members called upon business to increase their participation and cooperation with the BioTrade Initiative of UNCTAD, and other organizations involved in BioTrade (such as CAF) at the national, regional and global levels and to further promote sustainable use of biodiversity, sustainable harvesting practices, and access and benefit-sharing under the framework of the Nagoya Protocol.
The objective of this side event is to discuss how BioTrade could be complemented by measures that contribute to climate change mitigation and adaptation in order to unleash private sector participation and engagement. This will be illustrated by concrete experiences Latin America.
Overall biotrade market trends, concrete experiences and best practices will be shared in order to explore and discuss steps forward in making use of incentives such as innovative financing mechanisms, sustainable agricultural and forest management practices and the utilization of the same geographical areas for implementing BioTrade and REDD+ projects.
The introduction of parallel incentives in these two areas can maximize trade benefits and payment for ecosystem services while ensuring at the same time, higher levels of resilience and the social inclusion of local populations.
This learning space will convey the importance of sound, timely and long standing strategic global and regional alliances to promote BioTrade.
It will also discuss the role of the Secretariat of the Convention on Biological Biodiversity, the United National Conference on Trade and Sustainable Development and multilateral financial organizations such as CAF in the mainstreaming of Biotrade at the national level in order to leverage technical assistance through international funds and donnors, such as GEF.