After more than a decade of being net recipients of financial aid, Central and Eastern Europe countries such as the Czech Republic are beginning to pitch in as international donors. — By Roman Vyhnanek   Photo:REC ARCHIVES WISE INVESTMENT: Money for bioversity could help protect regional species such as the long-eared owl. A pilot fund will invest in biodiversity throughout Central and Eastern Europe. The fund has been developed by the European Centre for Nature Conservation (ECNC) in partnership with the World Bank, the European Investment Bank (EIB) and the United Nations Environment Programme (UNEP). Rabo bank of the Netherlands will be among the first to invest in the new fund. The initial amount available will be EUR 10 million, ECNC has announced at the recent ministerial conference in Kiev. A fund aims to help bankable projects, said Brian Unwin, ECNC president and the driving force behind the idea since 2001. "Bankable means that a reasonable return of capital will need to be available," explained Unwin, an honorary president of the EIB. Unlike ordinary investment capital, the new fund will have a flexible range of return, while the evaluation will focus on the projects -- benefits to biodiversity and conservation. In an interview with the Bulletin, Unwin mentioned some of the ways capital can be mobilised for biodiversity. To persuade a commercial bank put more stock in the environment you have to convince it that they have social obligations and that their reputation could depend on it, Unwin said. "Reputation risk" is an extremely important factor for the banks, he said. "As with large companies, international oil companies and so on, commercial banks bear a reputation risk. If a bank is lending for purposes that contradict biodiversity that is going to be bad for their commercial interests in the end." Improved communication between the banking sector and conservationists is essential to draw investment into biodiversity, Unwin said. "We've got to find a way to talk to each other, which means to learn each other's languages." The ECNC, with strong support from the Swiss government, has launched an initiative called the European Biodiversity Resource Initiative (EBRI). This is a specific initiative to bring together international banks such as the European Investment Bank, the European Bank for Reconstruction on Development, the Nordic Investment Bank and the Council of Europe Development Bank. More then EUR 7 billion is needed annually to protect biodiversity, according to ECNC. — Brian Unwin, president European Centre for Nature Conservation

Back to front page Top