Funding that works: increasing the focus on non-market, sustained and long-term thinking

Resource mobilisation and appropriate funding for biodiversity and climate action are key challenges in meeting the global commitments made to address these issues. While huge attention is paid to the emergence of so-called ‘nature markets’ and financial instruments linked to carbon and biodiversity units, not enough is paid to the need to reform and scale up the provision of stable and long-term non-market financing. This includes tax reform, philanthropic giving through direct channels and public funding provided through bilateral or multilateral channels (among others).

Today FPP is thrilled to be launching a contribution to this important area of research and thinking, in ‘Beyond Offsets: People and Planet-Centred Responses to the Climate and Biodiversity Crisis’, a new report by Fern, Forest Peoples Programme and Rainforest Foundation UK that sets out alternatives to flawed voluntary carbon and biodiversity markets.

The report comes at a critical time when voluntary carbon and biodiversity offset markets have faced widespread criticism for their failure to demonstrate climate or nature benefit, to ensure funding reaches frontline communities and for fuelling land grabs in tropical forest countries, while also diverting crucial political resources away from raising the public funds needed.