Target 3 – Incentives reformed
By 2020, at the latest, incentives, including subsidies, harmful to biodiversity are eliminated, phased out or reformed in order to minimize or avoid negative impacts, and positive incentives for the conservation and sustainable use of biodiversity are developed and applied, consistent and in harmony with the Convention and other relevant international obligations, taking into account national socio- economic conditions.
Positive incentives targeted directly at IPLCs and respecting their traditional knowledge, their customary resource and ecosystem management practices, and their livelihoods, have high potential for securing multiple biodiversity values and contributing to climate change mitigation as well as community wellbeing. For sustainable and effective outcomes, incentives need to be designed and implemented in collaboration with IPLCs. Both financial and non-financial incentives should be considered, and benefits should flow directly to communities. In addition, a stronger focus is needed on eliminating perverse incentives, including those awarded to extractive industries, which can have disproportionate impacts on IPLCs, their lands and ecosystems.