Ecological Fiscal Transfer for Biodiversity Conservation

by | May 30, 2024 | NATIONAL, NEWS, SUSTAINABILITY | 0 comments

Ever since the year 2019, when the Ecological Fiscal Transfer for Biodiversity Conservation (EFT) was introduced it has safeguarded critical forests and marine ecosystems from destruction, hence state governments are encouraged to fully utilise such incentives.

This funding by the federal government has played an important role in effectively preserving vital areas serving as primary water sources and fishing grounds and these are also sources of income for coastal communities and food for the general public.

The Natural Resources and Environmental Sustainability Ministry revealed that more than 90,000ha spanning across Kedah, Perak, Perlis, Penang, Selangor, Terengganu, Sabah and Sarawak have been gazetted as permanent forest reserves under EFT.

This gazettement under the EFT is set to witness these areas continuing to provide essential ecosystem services including water catchment areas and habitats for a diverse range of flora and fauna.

Under the EFT, more than 250,000ha of coastal areas in Johor, Melaka and Sarawak have also been gazetted as marine protected areas emphasising the importance of conserving mangrove forests, seagrass beds and coral reefs.

The EFT has also bolstered enforcement and is assessing their precise impact on reducing illegal logging and this would require a “Comprehensive Evaluation” in line with Sustainable Forest Management (SFM) principles.