ASEAN meeting highlights sustainable financing for nature-based solutions
The seminar featured presentations and experience-sharing from ASEAN member states on deploying nature-based solutions and establishing sustainable financing systems for forestry.
The 23rd international seminar of ASEAN senior officials on forestry (ASOF) in Luang Prabang on August 6, 2025. (Photo published by VNA)
Luang Prabang (VNA) – The 23rd international seminar of ASEAN senior officials on forestry (ASOF) took place in Luang Prabang, Laos, on August 6, addressing contemporary urgent challenges, particularly the scaling up of nature-based solutions (NbS) and ecosystem-based approaches (EbA) through sustainable financing mechanisms.
Speaking at the event, Dr. Somvang Phimmavong, Director of the Department of Forestry under the Lao Ministry of Agriculture and Forestry, highlighted the vital role of forests in Laos and across ASEAN.
Forests are not only critical ecosystems but also fundamental to economic and social wellbeing, he said, saying they contribute to carbon sequestration, climate change mitigation, and water regulation to ensure the sustainability of hydropower works which are crucial to energy security. Forests also support the livelihoods of 66% of the population, helping reduce poverty and promoting sustainable growth.
In recent years, Laos has promoted the implementation of the Payment for Forest Environmental Services (PfES) scheme, a promising tool to enhance conservation efforts and support local communities. In addition, the development of sustainable tourism has been identified as an effective means of generating income while preserving natural heritage, he went on.
Somvang candidly pointed out the severe threats facing ASEAN’s forests, including deforestation, ecosystem degradation, illegal logging, and changes in land use purposes, underscoring the urgent need for coordinated action.
In this context, discussions on sustainable financing for NbS and EbA were deemed critical. Participants emphasised the importance of sharing successful models such as PfES, carbon markets, and pooled funding mechanisms. They also called for stronger partnerships among governments, the private sector, and development organisations to attract investment, enhance knowledge, and build institutional capacity to ensure effective implementation.
𒅌 The seminar featured presentations and experience-sharing from ASEAN member states on deploying NbS and establishing sustainable financing systems for forestry./.
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