“Biodiversity is capital.” UN-GCNT to join forces with private sector at GCNT Forum 2022 this November

The United Nations and Global Compact Network in Thailand (GCNT) have identified biodiversity as an existential crisis that, along with climate change, is threatening the resource base of the global economy, according to experts at a high-level webinar held earlier this month.  

This November, more than 100 GCNT members will join forces to advance ecological restoration and sustainable economic growth at the GCNT Forum 2022, they added. The threat will also be a key topic for discussions at COP27 in Egypt next month and COP15 in Canada in December. 

In her opening speech at the Investment in Nature and Biodiversity Webinar, Gita Sabharwal, the United Nations Resident Coordinator in Thailand, stressed that biodiversity loss is one of the three ongoing planetary crises, along with climate change and pollution. This environmental emergency requires urgent nature-based solutions worldwide, Sabharwal noted.  

The United Nations Environment Program (UNEP) estimates that over half of the world’s GDP is dependent on natural resources, but biodiversity is facing serious threats from deforestation to habitat loss and from climate change to overfishing.  

However, every dollar invested in ecological restoration can generate an economic profit of up to $30, based on UNEP estimates. In other words, green investments can generate economic returns with a value of up to 30 times that of the initial investment. 

At the webinar, Dr. Netithorn Praditsarn, Deputy Secretary-General of Global Compact Network Thailand (GCNT), observed that more and more businesses are starting to realize the importance of ecosystems as a natural capital essential to livelihoods and the global economy.  

Food security, Netithorn explained, is one of the pressing issues that clearly highlight the central role of biodiversity in the economy and people’s livelihoods.  

Biodiversity worldwide has been in marked decline for decades and Southeast Asia has been particularly affected.  

In its latest assessment of global ecosystems, the World Wide Fund for Nature (WWF) has pinpointed the alarming rate of the decline. The numbers of mammals, birds, reptiles, amphibians, and fish plummeted by 68 per cent, or more than two-thirds, from 1970 to 2016 in the Asia-Pacific region. 

As a result, the need to preserve and restore biodiversity and protect natural resources is a vital undertaking not only for conservationist groups but also for all businesses and other stakeholders who will need to redouble their efforts to save ecosystems, the experts at the webinar said. 

“GCNT, as the local network of the UN Global Compact, is committed to expanding cooperation with partner organizations and to implementing development projects that empower the business sector. The GCNT Forum 2022 in November will feature seminars on biodiversity management,” Netithon said. 

The webinar brought together experts from various government agencies, the private sector and civil society who shared their insights.  

The speakers included Dr. Theresa Mundita S. Lim from ASEAN Center for Biodiversity, Dr. Balakrishna Pisupati from UNEP Law Division, Dr. Pattrin Thongsima from the Office of Natural Resources and Environmental Policy and Planning (ONEP), Dr. Petch Manoprawit from the National Ecosystem Assessment (NEA), Mrs. Susama Pitakuldilok from PTT Exploration and Production PCL. (PTTEP), and Ms. Pitchanok Luanguthai from Mae Fah Luang Foundation. 

All participants underlined the importance of biodiversity, pointing out that Southeast Asia is one of the regions with the richest biodiversity but also with the greatest vulnerabilities and threats. All sectors in society must be equipped with a whole-system sustainable management approach, supported by the latest data, in-depth knowledge, adequate financial resources, the best available technological tools and innovation.  

Thailand ranks the 20th among countries globally in terms of the rate of biodiversity, but as many as 470 species around the country are facing the threat of extinction in the wild.  

According to the Office of Natural Resources and Environmental Policy and Planning (ONEP), many coastal areas and marine ecosystems have been under threat. Thailand has over 3,151 kilometers of coastline, yet illegal fishing is a constant threat to marine ecosystems and beaches.  

Based on the latest estimate, Thailand also needs to increase its forest cover significantly from the current 31.68 percent with the country’s northern region especially in urgent need of rehabilitation.  

The agricultural sector depends greatly on healthy forests and robust biodiversity. All stakeholders need to take action now, the speakers emphasized.  

Encouragingly, Thailand’s National Ecosystem Assessment (NEA) offers world-class conservation techniques and a robust knowledge base on biodiversity to decision-makers. It is building engagement through an educational platform on the importance of biodiversity and nature-based solutions such as the Blue Carbon Initiative, which focuses on marine and coastal ecosystems.  

Thailand will benefit greatly from conservation efforts that can boost sustainable tourism and improve climate change mitigation. It is urgent to mobilize resources, particularly responsible investments, the experts said.  

Although the private sector is highly engaged on the issue, many ongoing projects are not supported with sufficient knowledge and so unable to utilize the resources efficiently. With the combination of academic and community knowledge, development efforts can be optimized, they added. 

Representatives of PTT Exploration and Production (PTTEP), a prominent company, and the Mae Fah Luang Foundation, a leading nonprofit, shared their views and experiences about ongoing biodiversity-related projects.  

PTTEP has included energy transition as part of its corporate strategy to achieve the goal of net zero and mitigate biodiversity impacts. The company has a clear goal of creating a Net Positive Impact on biodiversity and ecological services by 2030 by improving the Ocean Health Index through the 3 Cleans Approach – Clean 1: clean & ocean-friendly operation, Clean 2: ocean health & biodiversity monitoring, Clean 3: concrete restoration and conservation of marine environment.  

The public and researchers will be able to access all these data, the company said. 

The Mae Fah Luang Foundation is operating on the guiding principle of “When Forests Grow, People Thrive” and is helping forest-dwelling communities generate income by selling carbon credits from the forest sector. A pilot project is taking place in Doi Tung, which spans over 10,880 hectares, where carbon credits are expected to be equivalent to 106,788 tons of CO2.  

The knowledge gained from this project will be disseminated to forest communities across the country under the project “Save Forests, Save People,” which relies on cooperation from all sectors, including the government, the private sector and communities. 

At the end of the webinar, Ms. Thanyaporn Krichtitayawuth, Director of Global Compact Network Thailand, stressed the importance of keeping an eye on developments at the upcoming Conference of the Parties of the UNFCCC, or COP 27 in Egypt, this November, and emphasized how the economy would benefit from urgent and serious climate action.

From 7-19 December, the 15th Conference of the Parties to the UN Convention on Biological Diversity (CBD COP 15) will take place in Montreal, where leaders of influential countries will declare their latest environmental commitments.  

Thailand has begun campaigning to raise public awareness of the importance of biodiversity and to promote the conservation and sustainable use of natural resources.  

It is expected that the Convention on Biological Diversity will be enforced soon, requiring Thai businesses to scale up their green operations and contribute to the national ambition to alleviate problems arising from climate change and biodiversity loss.  

GCNT members will hold workshops to strengthen the partnership of the private sector and propose green solutions at the “GCNT Forum 2022” this November.