Posted on 23 October
2009 - Business and policy leaders will
get together in Manila next year to debate
how to protect the Coral Triangle, the
world’s most diverse marine environment.
The summit, organized
by the Philippine Government and WWF will
be held on January 18 to 21, 2010 and outline
business opportunities for key sectors operating
in the region encompassing Indonesia, Malaysia,
Papua New Guinea, Philippines, Solomon Islands
and Timor-Leste.
It will also provide
a platform for financial support and investment
for businesses willing to commit to sustainability
and green growth.
Covering just one per
cent of the earth’s surface, the Coral Triangle
includes 30 per cent of the world’s coral
reefs, 76 per cent of its reef building
coral species as well as vital spawning
grounds for tuna.
The region sustains
the lives of more than 120 million people,
along with thousands of small and medium
businesses that heavily rely on healthy
marine environments and resources.
But the Coral Triangle
is under threat from over-exploitation,
environmental degradation, poverty, and
global economic recession – all compounded
by severe climate change.
"By inviting sectors
that rely on a healthy marine environment
in the Coral Triangle, as well as the tourism,
communications, and investment sectors,
this Business Summit will contribute to
the pursuit of sustainable business development
and investment," said Manuel Gerochi,
Philippine Undersecretary of the Department
of Environment and Natural Resources.
The Business Summit
will place special emphasis on the growing
demand for 'green' products globally, which
can drive sustainability in supply chains
within the Coral Triangle.
There will also be opportunities
for regional and national financial institutions
and investors to explore emerging investment
opportunities, and to network and forge
partnerships with companies that are dependent
on the Coral Triangle's natural resources.
“This event will make
a compelling case for sustainable investment
and business in the Coral Triangle” said
Dr Lida Pet-Soede, WWF Coral Triangle Programme
Leader.
“Putting new economic
growth on a sustainable path requires courage,
innovation, partnership and, not the least,
access to credit, finance and investment,
which are often major barriers to progress.
Through this summit, we hope to find a way
to bridge this gap” added Pet-Soede.
According to a WWF report
coral reefs will disappear from the Coral
Triangle by the end of the century and the
ability of the region’s coastal environments
to feed people will decline by 80 per cent
if no effective action is taken.
This event follows the
CTI Leaders Summit in Indonesia in May 2009,
where the six Heads of State of the Coral
Triangle states committed to ambitious conservation
and development targets across the region
through a Regional Plan of Action, a large
part of which requires meaningful engagement
from the private sector.
WWF supports the CTI
by providing targeted support for issues
related to climate change, fisheries, tourism
and marine protected areas through its Coral
Triangle Programme.
"The Coral Triangle
Business Summit is intended to help businesses
reap market rewards through responsible
stewardship of the marine environment. The
threat of climate change and the growing
consumer demand for 'green' products point
to one need -- improved management of the
Coral Triangle," said Dr Lida Pet-Soede.
