SPGA's Sustainable Financing Approach Showcased via Global Webinar

On Thursday 22nd August, SPGA CEO Mr. Allen Cedras participated in the Marine Protected Area(MPA) Finance Webinar organised by the Reef Resilience Network, under the theme “First Steps for Marine Managers”. The Reef Resilience Network, a global leader in capacity building for marine managers and practitioners, is a partnership together with the Nature Conservancy which aims at ensuring effective knowledge sharing through toolkits, webinars, mentorship and creating various opportunities and experiences.

CEO Cedras presenting during the webinar

The webinar which was open to MPA practitioners from across the globe, touched based on different sustainable financing mechanisms & methodologies, with the toolkit developed set to be a first-stop resource for MPA Managers looking to finance conservation within their jurisdictions.

As a panelist, CEO Cedras shared his extensive experience in developing sustainable Marine Protected Areas, through Management and Strategic Plans. Mr. Cedras explained that currently SPGA undertakes several sustainable financing mechanisms such as engaging in eco-tourism activities, sourcing international funding, as well as corporate sponsorships by the private sector for different conservation projects.

Amongst the wealth of tips provided to the participants, CEO Cedras stated that it is imperative that MPA Managers diversify their activities and offerings and further develop innovative mechanisms such as joining regional networks, utilising modern technology and tools to their advantage, whilst simultaneously building capacity of staff and synchronizing a legal framework in which they will operate. Mr. Cedras highlighted the need to consider mindful user fees which offers value for money, but also reflect the reality of conservation costs.

During the questions and answers segment, participants interacted with the panelists who also included representatives from the Reef Resilience Network and the Blue Nature Alliance. Participants queried on how to add capacity building to their Management Plans, as well as the different challenges faced when attempting to diversify MPA financing. At the end of the webinar, all present, had gained invaluable knowledge on innovative and modern approaches to sustainable MPA financing.

Watch the full webinar at : https://youtu.be/SuG8LeQ8-B4?si=zY6X7S9TrOIfhP8N