The 2nd Coral Triangle Regional Business Forum highlighted innovative incentives and increased investment from the private sector as crucial for the long-term health of the Coral Triangle region and the millions of people that depend on the marine environment for their livelihoods, says WWF.
The forum provided two days of deliberations over how the private and public sectors can work together to protect the world’s most diverse marine ecosystem. Among the several public-private partnerships recognized at the forum is a multi-stakeholder collaboration between Coop/Bell Seafood of Switzerland, Seafresh of The Netherlands, the Government of Germany, the Philippine Bureau of Fisheries and Aquatic Resources (BFAR), and WWF-Philippines on a project to improve the management of tuna handline fisheries.
A 10-year marine conservation initiative for the Coral Triangle was also announced at the forum, a move that is expected to infuse RM1.5 billion into the regional economy and create 2,900 new jobs up to the year 2020.
The Malaysian National News agency Bernama reported that Sabah Chief Minister, Datuk Seri Musa Aman made the announcement in the Malaysian capital on the first day of the forum. The new plan would see the creation of a Global Biodiversity Hub (GBH) in Sabah, Malaysia, which will help coordinate the sustainable development of marine resources within the Coral Triangle by working with the region’s broad community of fishermen and seeking to improve the livelihoods of farmers.
Over 70 per cent of the funding for the estimated $RM896 million GBH will come from the private sector.