Marine biodiversity is critical both for its intrinsic value and for the key role it plays in providing the essentials of life: food, fuel, medicines, pollution mitigation, and many, many more. Yet, despite its importance for human wellbeing, the financing currently available for marine conservation efforts does not meet global or local needs. This lack of funds prevents many sites from achieving effective long-term management.
Sustainable financing options for the numerous emerging and existing Marine Protected Areas around the world remain elusive. However, there are new opportunities and innovative mechanisms for MPA and coastal managers to find the financing necessary for biodiversity conservation and the long-term food security that is critical for the region. These mechanisms include both market-based and non-market-based approaches, the use of innovative fiscal instruments and Payments for Ecosystem Services (PES).