A new Earth Profits Fund would channel corporate money to causes like forest protection.
The International Union for Conservation of Nature (IUCN) announced that it is launching a new conservation fund called the Earth Profits Fund. The fund will ask the world"s 500 wealthiest corporations to dedicate one percent of their profits to protect threatened forests, fisheries and other at-risk ecosystems around the world. IUCN, a Swiss-based nonprofit, is an environmental network comprised of more than 1,000 governmental and nonprofit organizations (also known as the World Conservation Union). The group is best known for producing and maintaining a Red List, the most comprehensive tally of the globe"s endangered species.
The new Earth Profits Fund will act as alternative funding source for conservation programs in light of the fact that traditional sources are disappearing due to the worldwide economic meltdown. If the group can get the buy-in from the world"s richest companies, it could raise some $10 billion a year to put toward conservation causes.
"It’s going to be a long haul to get it implemented," says Richard Cellarius, the Sierra Club"s VP for international affairs and a major proponent for launching the fund. "Trying to get [financial] resources for conservation is an uphill battle."
Source: World Watch