The time has come for Israel to join the ranks of both developed and emerging nations around the world that have adopted biodiversity financing programs. The programs now in place include watershed and wetland protection, water services, soil conservation, wildlife protection and carbon sequestration, land management agreements, recreation, and initiatives to clear invasive alien plants and restore the beauty of the natural landscape.

The Milken Institute, in conjunction with Israel’s Ministry of Environmental Protection, convened a Financial Innovations Lab® to evaluate potential incentive programs and other financial mechanisms that could be used to appropriately value the nation’s biodiversity. The session brought together a diverse group of scientists, capital market experts, governmental officials, foundation executives, architects, and land developers to design potential models and localize the best international solutions to fit the Israeli context.

Participants discussed how to achieve the optimal level of conservation while maintaining cost efficiency. Following presentations on specific programs in countries like the United States and Australia, participants debated which models could be most applicable to Israel. There was a focus on identifying and overcoming potential barriers to the adoption of these models. Participants then suggested examining case studies to further test the feasibility of financial mechanisms to align environmental protection with economic growth in Israel.