Economic and financial mechanisms for climate change resilience
Economic and financial mechanisms were at the heart of RESCCUE's strategy to foster and sustain integrated coastal management, thereby increasing resilience to climate change.
At the regional level, RESCCUE explored opportunities associated with greening taxes and subsidies, strengthening the mitigation hierarchy, land-use transactions, and economic incentives to control invasive species.
On pilot sites, RESCCUE studied the feasibility of over 50 economic and financial mechanisms. In practice, eight of them were implemented during the course of the project.
The vast majority of mechanisms assessed and/or implemented by RESCCUE involve payments from ecosystem services beneficiaries – as opposed to polluters. This translates higher political acceptability in Pacific Island contexts.
RESCCUE faced a number of contextual and procedural challenges. Project partners overcame them by operating at multiple scales while combining provision of technical expertise with development of strategic partnerships to build trust and commitment, reinforce existing institutions or create new ones.
Besides multiplying local innovations, a sustained endeavour is needed to: (i) achieve more tangible outcomes on greening taxes and subsidies in all PICTs; (ii) investigate more systematically opportunities associated with the tourism and fisheries industries; and (iii) assess the potential of mechanisms not covered by the project such as impact investment, insurance mechanisms, debt-for-nature swaps and green/blue bonds.
Examen des possibilités de mise en œuvre de transactions relatives au foncier et aux droits fonciers dans une optique de conservation et de résilience climatique dans les États et Territoires insulaires océaniens
Mise en œuvre de mécanismes de financement innovants pour la biodiversité en province Sud de Nouvelle-Calédonie : refonte des redevances pour autorisation d'occupation du domaine public et réaffectation de taxes