PACT Launches New Conservation Investment Strategy
FOR IMMEDIATE RELEASE
PACT LAUNCHES NEW CONSERVATION INVESTMENT STRATEGY
December 18, 2017 — (Belmopan, BZE) On Thursday, December 14, 2017, the Protected Areas Conservation Trust (PACT) introduced its Conservation Investment Strategy and the process utilized for its development to several Co-Management Organizations and Conservation stakeholders. This initiative was led by PACT through the support of a Working Group consisting of representatives from the Ministry of Agriculture, Fisheries, Forestry, the Environment and Sustainable Development, and Immigration (MAFFESDI), the National Protected Areas System Secretariat (NPASS), the Forest Department (FD), the Fisheries Department (FiD) and the Association of Protected Areas Management Organizations (APAMO).
Through this strategy, PACT aims to identify thematic funding windows, investment allocations, modalities and performance targets for the National Protected Areas System (NPAS). As highlighted by PACT Board Chair and Chief Executive Officer Dr. Percival Cho, the strategy signifies concrete actions taken by the Trust in meeting its functions established under the 2015 PACT Act. These functions include the formulation of strategic priorities for developing, mobilizing and allocating financial resources for the NPAS; as well as coordinating the financial sustainability of the system. In his contextual overview, CEO Cho also reiterated the need for PACT to utilize a Public Conservation Return on Investment (PCRoI) framework in making targeted investments with the limited resources available, while also identifying risks and other uncertainties. Furthermore, understanding PACT’s investment decisions would be beneficial to conservation partners and donors in identifying deficits, opportunities for leveraging and other cost-sharing engagements to meet conservation goals.
The PACT Conservation Investment Strategy utilizes a phased approach in prioritizing conservation outcomes. During the first phase the potential of protected areas/ecosystems in meeting three desired outcomes; Biodiversity & PACT Conservation Investment Strategy Working Group Conservation Stakeholders providing feedback during presentation of Investment Strategy Ecosystem Health, Revenue Generation, and Socio-economic benefits, were assessed. This assessment drew on results obtained from the National Protected Areas System Plan as well as the National Growth and Sustainable Development Strategy. Subsequent phases include abridged evaluations on Protected Areas Threats, Management Functions, Finance & Budgeting and Likelihood of Success. Further data collection and analysis is ongoing and the official Conservation Investment Strategy will be presented to stakeholders for further validation and subsequent publishing within the next month.
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PACT was formally established in January 1996 with the passing of the Protected Areas Conservation Trust Act, No. 15 of 1995, creating the institution as a Statutory Board. PACT contributes to the effective management of Belize’s National Protected Areas System (NPAS) through strategic partnerships and high impact investments. The PACT is managed by a Board of Directors that is comprised of Government agencies, non-government organizations and individual experts.