Designing a co-investment model for the Gangtey-Phobji Ramsar site

Organisers: Department of Forests and Park Services, Royal Society for Protection of Nature, HI-REAP

About the event

The Himalayan Resilience Enabling Action Programme (HI-REAP) under ICIMOD, in collaboration with the Department of Forests and Park Services (DOFPS), Ministry of Energy and Natural Resources, and Royal Society for Protection of Nature, Royal Government of Bhutan, is organising a three-day consultative workshop to co-design a practical and innovative financing model that could mobilise diverse funding sources for conservation and sustainable management of the Gangtey-Phobji Ramsar site.

The workshop will bring together relevant government departments, civil society organisations, private sector, local communities, academia and research institutions, development partners, multilateral banks, and national banking and financial institutions. This event is supported by the United Kingdom International Development through its Foreign Commonwealth and Development Office (FCDO).

Objectives

The specific objectives of this workshop are to:

• Integrate awareness based financial contributions by various private sector actors benefitting from environmental services from the Gangtey-Phobji Ramsar site with public conservation financing
• Explore ways to incentivise conservation stewards and help support greener, climate resilient and sustainable resource management practices in and around the Ramsar site
• Explore a national co-investment model for sustainably financing the Ramsar site
• Co-design a partnership mechanism to secure commitment from relevant investors

Expected outputs

• Co-investment framework and operational guidelines (including policy recommendations to integrate a co-financing model into Bhutan’s Protected Area management plans)
• Initial engagement plan for Gangtey-Phobji Ramsar site

These will establish a replicable model of sustainable financing for Ramsar sites and wetland conservation in Bhutan, which can also serve as example for other countries in the HKH.

Background

Gangtey-Phobji, a designated Ramsar site in Bhutan, is a pristine glacial valley renowned for its rich biodiversity, critical wetland ecosystems, and cultural heritage. It serves as the wintering habitat of the endangered, black-necked crane (Grus nigricollis) and supports vital ecosystem functions such as water regulation, carbon sequestration, and sustainable agriculture. The valley also holds spiritual and ecotourism significance, with the historic Gangtey Monastery overlooking the landscape. However, increasing development pressures, land-use changes, and tourism impacts pose challenges to the valley’s ecological integrity. Additionally, limited financial resources for its management and increasing environmental and socio-economic pressures necessitate innovative financing mechanisms to ensure its long-term conservation and sustainable management.

A co-investment model could be an important option to incentivise sustainable land-use practices, biodiversity conservation, and ecosystem protection in Gangtey-Phobji. The benefits, such as clean water, carbon storage, and wildlife habitats, are often undervalued, making it crucial to develop a mechanism where beneficiaries (tourism operators, hydropower companies, government, private investors) recognise the value of ecosystem services and contribute to conservation efforts. A co-investment framework can help ensure long-term financing for conservation while empowering local communities through incentives for sustainable practices, such as wetland-friendly farming, eco-tourism development, and habitat restoration, while encouraging business to make green investments that complement conservation efforts by DoFPS.

A national co-investment framework will integrate public, private, and philanthropic funding to strengthen management of this Ramsar Site, aligning with the recent management plan of the Ramsar site together with links to Bhutan’s sustainable development goals, climate action commitments, and green financing strategies.

HI-REAP plays a key role in advancing these efforts by fostering innovative financing mechanisms and integrating NbS into policy and practice. The programme aims to enhance the resilience of mountain communities by strengthening governance, leveraging blended finance, and scaling NbS to address climate vulnerabilities.