An innovative solution for conservation work across Africa
Global leaders in the conservation space have ambitious aims to protect and conserve the natural world. In order for these goals to be achieved, conservation efforts must be effectively managed and properly funded. This is often not the case and underfunding can cause significant challenges for organisations trying to reach their conservation goals.
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Project Finance for Permanence (PFP) offers an innovative solution to this challenge, by ensuring durable and full funding for conservation projects. By adapting private sector models of financing and applying them through a conservation lens, PFP aims to secure full and permanent project funding and aid the effective implementation of conservation initiatives. Taking a holistic view, PFP considers all factors (ecological, organisational, financial and political) interconnected and intrinsic to the success of a project.
Although a relatively new approach, PFP has already proved successful and has been adopted by organisations such as WWF and The Nature Conservancy (TNC). TNC have secured $35 million from Bezos Earth Fund for a PFP and in 2016 they finalised an agreement between the provincial government and 27 First Nations in an effort to conserve the Great Bear Rainforest in Canada. They were able to generate $100 million and conserve 7.7 million hectares of the rainforest. PFPs continue to accumulate funding and to date these have mobilized $1.3 billion for various conservation efforts.
More recently, TNC are considering introducing PFP in Gabon to secure and fund their mission to protect vital habitats, ecosystems and carbon stocks and support the country in their aim for a blue-green economy. The PFP will ensure essential planning, financing mechanisms, governance and stakeholder engagements are effectively managed.
Millar Cameron are proud to be supporting TNC with their Gabon Program and PFP, helping to find the right leaders to carry out vital conservation work across Africa.
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