Examining the Efficiency of Biodiversity Finance Action Plan across the Indian Megacities

Zareena Begum Irfan ()
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Zareena Begum Irfan: Professor and Controller of Examinations, Madras School of Economics

Working Papers from Madras School of Economics,Chennai,India

Abstract: Human well-being is quite intrinsically linked to ecosystem services and biodiversity. There is a growing amount of literature attempting to understand the mechanisms of these interlinkages. Though there is considerable progress globally with respect to human well-being, challenges still remain in terms of access to resources. On the biodiversity front, anthropogenic interference continues to threaten species. Reviewing the Aichi Biodiversity Targets which were to be achieved in 2020 worldwide reveals that none could be attained fully. In India, city- level efforts in biodiversity conservation and integration with human well-being appear lacking. With the pressures of population growth and urbanisation, urban planners often leave less scope for open or green spaces in the city. The traditional trade-off between environment and economic development continues to play out in cities. This study reviews the biodiversity status of five highly populated Indian megacities – Bengaluru, Chennai, Delhi, Kolkata and Mumbai – using City Biodiversity Index framework. Subsequently, a set of indicators characterising the state of human well-being, environment, economy and urban development for 2019-20 is selected and used to create a composite score to facilitate comparison. Mumbai is the best performer overall and also in terms of urban biodiversity. Kolkata has the least score for urban biodiversity. Chennai ranks well in both quality of life and environment but scores low in urban planning. Delhi has the least overall score while Bengaluru tops the economic dimension. It is hoped that the comprehensive picture thus obtained would enable directing attention to required sectors. The spotlight is thus on extending the scope of the biodiversity index and maximising welfare through integrated policies at minimum cost.

Keywords: Urban biodiversity; human well-being; urban planning; City Biodiversity Index; biodiversity finance; quality of life (search for similar items in EconPapers)
JEL-codes: I31 Q56 Q57 R11 (search for similar items in EconPapers)
Pages: 50 pages
Date: 2022-08
New Economics Papers: this item is included in nep-agr and nep-env
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