TITLE:
Financing Biodiversity Conservation in Namibian National Parks
AUTHORS:
Hambeleleni Kandume
KEYWORDS:
Sustainable Financing, Biodiversity Conservation, National Parks
JOURNAL NAME:
Natural Resources,
Vol.15 No.9,
September
30,
2024
ABSTRACT: Funding for biodiversity conservation is insufficient, necessitating innovative strategies to secure additional financial resources. This paper has three main objectives, namely, to assess the impact of funding on financial stability, to analyse the effect of sales revenue on financial stability and to examine the influence of financial management on financial stability of the biodiversity conservation in Namibia’s national parks. The study based on the philosophy of pragmatism, used a quantitative research approach, and employed a concurrent research design. The study employed various analytical tools to analyse the data, precisely the PLS-SEM in SmartPLS 4 software. The study ensured reliability in terms of internal consistency using the Cronbach’s alpha and composite reliability using omega-a (rho_a), used convergent validity based on the factor loading of the indicators and the average variance extracted (AVE), as well as discriminant validity using the Fornell-Lacker and Heterotrait-monotrait (HTMT) ratios. The findings advocate for adaptable and scalable solutions that can be tailored to different national parks, considering their unique ecological, social, and economic contexts. Specific contributions made by the study to the literature are examining the potential for innovative financing mechanisms, such as green bonds or conservation finance funds, to mobilise additional resources for biodiversity conservation in Namibia’s national parks. Furthermore, the study contributed by evaluating the impact of economic incentives, such as tax incentives or subsidies, on promoting conservation practices within Namibia’s national parks and promoting sustainable financing models.