TNC hands over $1M in Palau and fulfills a Commitment to the Micronesia Challenge.
KOROR, PALAU – On December 15, 2011, more than 75 dignitaries and conservationists celebrated a milestone in sustainable financing for the Micronesia Challenge. A ceremony held at the Palau Royal Resort celebrated the completion of Palau’s formal funding commitments with The Nature Conservancy entered into in 2006, at the launch of the Micronesia Challenge.
Russell Leiman, Asia-Pacific Managing Director for The Nature Conservancy, praised work of partners, “We’re so inspired by the leadership of Palau’s conservation community, which is building the practical framework for lasting investments in conservation that recognize the critical connection between a sustainable environment and a healthy society.”
PHOTO: December 15, 2011. TNC's Russell Leiman hands over $1 million to Palau President Johnson Toribiong as MCT Chair Lee Webber looks on.In recognition of this groundbreaking initiative, The Nature Conservancy originally pledged $3 million toward an endowment to sustainably finance the Challenge. Conservation International pledged an additional $3 million, and in 2010 the Global Environment Facility approved a $6 million regional grant to help meet funding requirements. As part of these agreements, Micronesia Challenge member states Palau, FSM, and RMI committed to matching pledged funds 2:1, making substantial progress to establish protected areas networks guided by standards set forth in the United Nations Convention on Biological Diversity (UNCBD), and developing local income generating mechanisms to fund continuing conservation activities under the Micronesia Challenge.
Palau has shown great leadership in fulfilling the ambitious goals set out in the Micronesia Challenge. To date, Palau has raised $4 million in matching funds, and has six sites now officially in the nationwide Protected Areas Network (PAN): Ebiil, Ngarchelong; Olsolkesol, Ngiwal; Ongedechuul SCA, Ngardmau; Ngardok Nature Reserve, Melekeok; Mesekelat, Ngchesar; Helen Reef; with 4 areas recently accepted: Medal Ngediull, Airai; Ngerderar Watershed Conservation Area, Aimeliik; Kerradel Network, Ngaraard; Ngelukes, Ngchesar; Ongedechuul Conservation Area System, Ngardmau.
Palau’s innovative Green Fee, established by legislation in 2009 provides a model for sustainable conservation funding. Fees collected from departing visitors continue to provide robust support for the maintenance of the PAN so important to Palau’s natural environment and tourism industry. Further demonstrating its leadership, in 2009, Palau established the first-ever shark sanctuary to protect sharks in the nation’s Exclusive Economic Zone (EEZ), encompassing a 240,000 square mile area.
The Micronesia Challenge ceremony showcased the formal handover of The Nature Conservancy’s remaining funding commitment. Leiman provided the $1 million check to His Excellency President Johnson Toribiong and Micronesia Conservation Trust Chair Lee Webber. It has been deposited along with Palau's remaining $1.4 million match into Palau's endowment subaccount. The Micronesia Challenge Regional Office and Palau Conservation Society assisted The Nature Conservancy in hosting the event.
THIS STORY IS AN EXCERPT FROM VOLUME 2 (JANUARY 2012) OF THE MICRONESIA CHALLENGE NEWSLETTER. READ THE ENTIRE NEWSLETTER BY CLICKING HERE.