Biodiversity offsets offer a promising option for promoting the conservation and sustainable management of natural ecosystems on an expanded scale. In an era of often flat--and sometimes declining--governmental support for conservation in general and protected areas in particular, biodiversity offsets can provide an underutilized opportunity to mobilize substantial new funding. This funding can come from public infrastructure accounts (such as for dams and roads) as well as from the private sector (including extractive industries).
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Under-funding of protected areas is a universal challenge. The UNDP supported GEF financed project “Strengthening Governance and Financial Sustainability of the National Protected Area System” sought to improve the financial sustainability of the Ukraine’s national protected area system. To do this, the project: a) developed a comprehensive national strategy for protected area financing, b) introduced business planning for protected areas and piloted options for PA revenue generation.