“Ten thousand flowers in spring, the moon in autumn, a cool breeze in summer, snow in winter. If your mind isn’t clouded by unnecessary things, this is the best season of your life.” Wu-Men
The image of “ten thousand flowers” blooming resonates deeply as I reflect on the inspiring projects presented by the various developers during our recent Project Acceleration Series (PAS) session. We witnessed dedicated teams working tirelessly to foster meaningful change for people and nature, engaging local communities as stewards of their natural heritage. To showcase project developers’ great work and to help troubleshoot and work through their challenges, we gather together as a community of practice for the quarterly Project Acceleration Series (PAS) events. Recognizing that many promising bankable nature solutions struggle to reach their full potential, iNovaland® and WWF’s Bankable Nature Solutions (BNS) Network created PAS to provide a platform for nature-based projects and developers to gain visibility, connect with collaborators, and receive expert as well as peer advice.
This third event of the year, held on the 12th September 2024, focused on projects in the Asia region, specifically two projects in Malaysia, being developed by communities with the engagement of WWF and part of the recently published report by WWF “Study on Financing of Nature-based Solutions in Southeast Asia.” Both projects aim to create sustainable economic opportunities while conserving the surrounding nature. In addition, we heard a brief presentation about how NBS projects can align with the Taskforce for Nature Related Disclosures (TNFD) framework, based on another recently published WWF report “NBS Project Reporting Using the TNFD Framework” developed by the NBS Accelerator, offering practical workbooks and guidance.
GelamCure Project: Sustainable essential oils that protect Malaysia’s Gelam Forests
This community-led enterprise in Terengganu, Malaysia, focuses on the regenerative harvesting of the native Gelam tree to produce essential oils used in aromatherapeutic and cosmetic products. By utilizing the Gelam forests sustainably, the initiative helps conserve this vital ecosystem while providing economic opportunities to the local community.
Since its inception in 2018, GelamCure has worked towards building a business that protects over 1,300 hectares of Gelam forest in the Setiu Wetlands. The project aims to expand further and add another 1,500 hectares to existing protected areas. It currently supports local communities through direct employment and sustainable resource management.
Project highlights:
Rajang-Belawai Paloh Delta Project: Mangrove conservation for livelihoods and biodiversity
Located in Sarawak, Malaysia, this project focuses on protecting the largest mangrove complex in the Rajang-Belawai Paloh delta. Home to endangered Irrawaddy dolphins and crucial to local economies, the mangroves provide resources for sustainable shrimp farming and aquaculture.
Through collaborative efforts, the project is developing a sustainable management plan that supports community-led conservation while providing alternative livelihoods for local communities. The project engages 10 villages with over 8,000 residents who depend on mangroves for their daily needs.
Insights during the event
Participants shared their experiences and thoughts to help address the challenges faced by the projects. For example, for GelamCure, David Lindley from WWF South Africa suggested targeting pharmaceutical companies with research programmes focused on essential oils, particularly Melaleuca, as a potential new market opportunity. “This could open doors for GelamCure to expand into a whole new market, beyond just cosmetics,” he noted. For Rajang-Belawai Paloh Delta, participants recommended considering the blue carbon route, as well as forging partnerships with eco-tourism operators, such as Living on Board (LoB) cruises, which could integrate the project’s villages into eco-tourism routes, driving direct economic benefits. Others in the session also provided practical ideas for moving these projects forward.
As Andrew Heald of iNovaland® remarked in this session, “A major hurdle is the interface between community-focused project developers and larger private businesses. Whilst a private business may want to purchase produce (whether shrimps, essential oils, or sustainable forest products) direct from the community, there can often be basic challenges of payment terms, continuity of supply, and certified compliance with 3rd party standards. iNovaland wants to explore that challenge and find ways to make that interface work better, whether by using co-operatives or via trusted aggregators which can help manage the supply chain and more fairly share risks and rewards“.
Looking ahead and final thoughts
Similar to projects invited to the previous PAS sessions, both GelamCure and the Rajang-Belawai Paloh Delta project are in the early stages of development and encounter difficulties in scaling up their efforts. With the right support, both projects have the potential to grow into impactful models for sustainable development and conservation in their regions.
To ensure good project design and to help meet investors’ demands, the NBS Accelerator team at WWF recommends considering using the TNFD framework as a helpful tool. David Donnelly, Senior with the Accelerator team, presented their recently published report “Attracting investment in Nature-based Solutions: how NbS projects can apply the TNFD reporting framework,” to inspire projects to consider how they can build into their project design what they would need to provide NBS investors with, to help them meet their disclosure reporting needs. Applying the LEAP (Locate, Evaluate, Assess and Prepare) approach can be used by NBS projects to inform their project design, governance, management, and reporting. Using practical workbooks provided in the report, gives a step-by-step process to make sure that all considerations are taken into account and that key target metrics for the projects are identified and tracked.
At iNovaland® and WWF BNS, we are excited to continue exploring bankable NBS projects and will provide mentorship to the presented projects and invite any additional input or ideas for collaboration. We are thankful to Fatin Zani, Parisa Shahyari, Vivien Yeo Shu Jun, and David Donnelly, for their informative presentations, and to all participants for contributing their valuable insights throughout the session.
Given the significant environmental challenges that we are facing, we need tens of thousands of BNS projects to be blooming and flourishing around the world, to help ensure that we serve as stewards of our natural environment, living in harmony with it and securing its sustainability for the generations to come.
If you would like your project to be featured in a future Project Acceleration Series events, please get in touch. Similarly, if you are a funder or finance expert interested in working with innovative and resilient projects, then we would love to hear from you.
And for all people interested in BNS projects stay tuned as soon we will announce our next Accelerator event!
Blog written by Natalya Skiba, with input from Sophie Fijnheer, at WWF BNS Network, at WWF BNS Network
