Dragon Capital signs strategic agreement to strengthen biodiversity

20:41 | 30/09/2019
Dragon Capital signed a strategic agreement with the Institute of Strategy and Policy on Natural Resources and Environment (ISPONRE) on environmental protection and biodiversity for the next three years.

The co-operation between Dragon Capital and ISPONRE was announced at the former's 25th anniversary held on September 26 with the theme to protect the environment and biodiversity in Ho Chi Minh City.

dragon capital signs strategic agreement to strengthen biodiversity

Dragon Capital will also supported VND5 billion ($212,765) for ISONRE to implement the researching on biodiversity in Vietnam in the next three years.

Accordingly, the co-operation between the two sides will be carried out in the following forms: jointly researching and publishing results; jointly organising and participating in seminars, training activities, and improving the legal framework.

The co-operation with ISPONRE this time is a continuation of the long-term drive to implement Dragon Capital’s social sustainability strategy, including the development of criteria to evaluate biodiversity in Vietnam and to form a conservation market akin to the current carbon market.

Dragon Capital has also announced supporting the establishment of a new chair in biodiversity economics at University of Exeter.

Over the course of the next five years, Dragon Capital and the University of Exeter will commit £1.6 million ($1.96 million)to fund the new position which will look to address the central question of whether there is any correlation between biodiversity and the success of the economy and whether individuals and organisations can, and should, place economic value on biodiversity.

The research will bridge and unite both economics and ecology to improve understanding of their interdependency and identify strategies which are both positive for biodiversity and provide incentives for action by businesses and individuals.

As part of the programme, the chair will develop a platform for biodiversity initiatives to advance price measurements of biodiversity, providing incentives for businesses to enter the market to provide a diverse range of environmental, social, and governance (ESG) offerings for market participants, for example biodiversity conservation initiatives.

The international programme will cover both developed and developing countries, with a particular interest in the United Kingdom and Southeast Asia (especially Vietnam, Cambodia, Myanmar, Sri Lanka, and Bhutan). The research will also influence intergovernmental bodies such as the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services on the design of economic incentives that allow businesses to pursue biodiversity investments legitimately while upholding fiduciary duties.

Vietnam is one of the most vulnerable countries to climate change and natural disasters. However, much of its economic success depends on agriculture and natural resources and those natural assets are being exploited unsustainably.

By Bich Ngoc

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