Why is it in the news?

• Bhutan, in collaboration with the Tiger Conservation Coalition, organized the ‘Sustainable Finance for Tiger Landscapes’ Conference.

Key Takeaways

• Participants included Bangladesh, Bhutan, Cambodia, China, India, Kazakhstan, Malaysia, Nepal, Thailand, and Vietnam.
• The conference aimed to develop new financial mechanisms for tiger conservation, link tiger conservation to global biodiversity and climate agendas, and involve indigenous peoples and local communities.
• One of the outcomes was the recognition of the tiger as the emblematic species of Asia, with cultural and spiritual significance.
• The commitment was made to catalyze an additional US$1 billion in funding for tiger conservation by 2034.
• The United Nations Development Programme presented the Tiger Landscapes Investment Fund, while the Asian Development Bank proposed a “tiger bond.”
• The emphasis was on securing the 63 vital tiger landscapes for long-term tiger recovery.
• Significance of Tiger Conservation: The conservation of tiger landscapes serves as models for harmonious coexistence between local communities and biodiversity, encourages carbon sequestration, ensures the supply of ecosystem services, and helps mitigate climate change.