At WSSD and in the Convention on Biological Diversity's Program of Work on Protected Areas, the nations of the world set an ambitious goal of creating representative, effectively managed networks of MPAs by 2012. Reliable, sustainable financing will be a key to success in meeting this goal. Furthermore, as countries scale up from individual MPAs to networks, it will not be sufficient to replicate mechanisms that have worked at specific sites. Financing strategies at a network level will involve trade-offs, such as between income retention at specific sites versus pooling of resources for the network, or concentrating tourism impacts in particular areas in order to generate funds for conservation of more "pristine" sites. Planners and policy makers will also need to explore system-wide sources of funds that reflect resource uses and the benefits provided by MPA networks, for example to sustainable fisheries management. This presentation will review the latest experience and lessons learned in developing sustainable financing strategies for MPA networks.

Guam conducted an economic valuation study of their coral reef resources in order to increase public awareness of the direct and indirect values of these resources, garner greater political will to legislate and fund conservation and protection of these resources, and provide for more accurate mitigation when these resources are damaged. Results of the Guam valuation study included the willingness of the public to pay more in annual taxes for better management of coral reef fisheries resources. The results of the research are being utilized to develop more effective outreach and education programs.

Examples of sustainable financing initiatives from the Caribbean and Indian Ocean will be presented to highlight the challenges and opportunities that exist on a site-by-site basis.

The Protected Areas Network Bill (6-176-10S, HD1) calls for the investigation and development of mechanisms for the sustainable financing protected areas. The result of this work has led to a sustainable financing plan for the National Protected Area Network that will: build upon existing revenue from fees and licenses; build upon existing National budget allocations; create a new revenue stream; leverage international development assistance. The plan will be presented along with lessons learned.

Fund management and in many cases the development of an effective trust fund is crucial to the success of any conservation finance endeavour. Experience from the development of the Micronesia Conservation Trust will be presented as a basis for discussion.

The recent adoption of the Programmes of Work on Protected Areas and Marine and Coastal Areas and the soon to be considered Programme of Work on Island Biodiversity under the Convention on Biological Diversity are important platforms to advance the financing of marine resources, in particular coral reefs. The opportunities to advance national, bilateral and international financing, including through the Global Environment Facility, will be discussed.