biofin driving investment accountability 600pxL-R: Titon Mitra of UNDP, Director Crisanta Marlene Rodriguez of BMB, and James Donovan, CEO of ADEC Innovations

Manila, Philippines – A new partnership was launched in the first week of March 2019 to develop an online Biodiversity Monitoring and Evaluation (M&E) system and investment platform to meet national targets for biodiversity conservation. The platform will facilitate transparency and accountability in investment and track the progress of the PBSAP (Philippine Biodiversity Strategy and Action Plan) while resources from various mechanisms such as corporate social responsibility, crowdfunding, diaspora/migrant philanthropy, and impact investment are being mobilized.

The partnership was formed among the United Nations Development Programme (UNDP) through the Biodiversity Finance Initiative (BIOFIN), the Department of Environment and Natural Resources (DENR) through its Biodiversity Management Bureau (BMB), and ADEC Innovations Corporation. It will ultimately increase both public and private sector participation to unlock capital towards sustainable biodiversity financing and conservation for the Philippines precious and rich natural resources.

The M&E platform is one of BIOFIN Philippines’ 21 finance solutions all aimed at narrowing the huge financing gap of almost PhP19B (USD 349M) annually for the PBSAP implementation.

James Donovan, CEO of ADEC Innovations, recognized the importance of developing such platform and committed to work hand in hand with UNDP-BIOFIN Philippines and DENR-BMB.

“We at ADEC Innovations see the value in developing this platform as a way to achieve the Philippines’ targets for biodiversity conservation. This initiative not only requires work from the government and public agencies, but also calls for efforts from us in the private sector as we undoubtedly share the same vision with the Philippine government when it comes to sustainable management of natural resources,” he said.

Titon Mitra, UNDP Resident Representative, said at the launch of the partnership that there is big opportunity to leverage the capital, capabilities and innovation available from the private sector for biodiversity conservation.

“UNDP is delighted to have the opportunity to work with ADEC Innovations, known for its software development capabilities, to create this unique platform to monitor and promote public and private investments in biodiversity conservation. This will be an invaluable tool for DENR to help it bridge the financing gap,” he said.

Encapsulating the country’s rich and vast data from various agencies and organizations, the platform will provide visibility and serve as repository of information on biodiversity-related projects and initiatives nationwide.

The information will help government make informed decisions on programming and budgeting as well as stimulate private investments in biodiversity, thus contributes to the achievement of the Philippine Development Plan targets, Aichi Biodiversity Targets, and the UN Sustainable Development Goals. It will also aid in the Philippines’ reporting to the Convention on Biological Diversity.

ADEC Innovations Corporation’s Arianne Saga, Research and Development Specialist, and Kar Lyle Constantino, Senior Corporate Planner, presented the mock-up platform to UNDP and DENR, which was represented by Director Crisanta Marlene Rodriguez of the Biodiversity Management Bureau.

“I am excited about this partnership and work with UNDP and ADEC Innovations. I am looking forward to more years of partnership and learning about this initiative,” Director Rodriguez remarked.

The development of the platform is divided into three phases: 1) Creation of the platform’s main features; 2) Development of payment technology for the donation; and 3) Development of the investment platform. (BIOFIN Philippines)

 

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