CITES to Collaborate on Innovative Financing for Conservation

CITES9 February 2012: The Secretariat of the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) and Innovative Finance, a Swiss foundation dedicated to financial innovation for social impact, have announced a collaboration to develop new revenue streams for conservation projects, through a portfolio of financing activities with industry and financial partners.

Announcing the collaboration, John Scanlon, CITES Secretary-General, underscored the need for creative ways of raising funds given the current economic and financial crisis. Funds raised through the project will support, inter alia, protection of the African elephant, the rhino and other species.

The collaboration also will involve the development of a technology investment fund to enhance countries' enforcement capacity, including through DNA analysis laboratories that use forensic science to support wildlife crime investigations, and modern traceability systems. [CITES News]