Manila [The Philippines], Apr 22 (ANI): The Asian Development Bank (ADB) and The Nature Conservancy (TNC) on Thursday agreed to a new partnership for action on nature-positive investments, environmental sustainability and action on climate change throughout Asia and the Pacific.
The partnership announced during Earth Day celebrations will focus on biodiversity and ecosystem protection and restoration; nature-based solutions and sustainable infrastructure; coastal resilience; finance for oceans, freshwater, and biodiversity; sustainable urban planning and development; and gender integration and poverty reduction in nature conservation.
"Strengthening our partnership with TNC comes at a critical time," said ADB Vice-President for Knowledge Management and Sustainable Development Bambang Susantono.
"The coronavirus disease pandemic (COVID-19) has been a wake-up call on the importance of protecting ecosystems and biodiversity to protect humanity. It's vital that we make the recovery from COVID-19 a green and inclusive recovery."
Susantono said actions must be taken to address the root causes of the pandemic and avoid future infectious zoonotic disease outbreaks, promote good health, create jobs that are fit for the future, and support women's empowerment and economic well-being through nature-positive investments.
TNC Chief Executive Officer Jennifer Morris said the challenges of COVID-19 pandemic have also revealed the power and importance of collaboration to address complex issues with the urgency they require.
"TNC and ADB are demonstrating to the world the power of cross-sector partnerships and community-based conservation to create a brighter future for people and nature."
Under the joint two-year work plan, ADB and TNC will pilot initiatives aimed at sustainable management of coastal ecosystems and catalysing investment in development planning tools and digital technologies which will improve ecosystem management, while contributing to ADB's Action Plan for Healthy Oceans and Sustainable Blue Economies.
ADB and TNC will cooperate on technical assistance support for coral reef restoration through an innovative financing and insurance initiative. The partnership will also yield knowledge products and activities that will integrate gender equity in promoting nature preservation and climate action.
TNC is a charitable environmental organisation founded in 1951 and headquartered in Arlington, Virginia, United States. TNC currently impacts conservation in over 70 countries worldwide and has several national affiliates.