NbS Triple Win Toolkit: Economics and Finance 93 Model A – Offtake agreements Background Kulen Promtep Wildlife Sanctuary, in Cambodia’s north-western province of Preah Vihear, is home to the critically endangered Giant Ibis, Cambodia’s national bird. Destructive activities like logging for timber and agricultural purposes, and illegal killing can be financially lucrative activities for local people. This conflict creates severely negative consequences for the Giant Ibis and the integrity of the ecosystem, and threatens their future existence. Description of model Wildlife Conservation Society (WCS) founded a local NGO (Sansom Mlup Prey [SMP]). SMP trains farmers in sustainable farming practices 4 whilst WCS helps monitor and verify compliance within the various arrangements 3. These activities are funded 1,2 by a local entity (Ibis Rice Conservation Company [IRCC]) which receives funding from an interest-bearing working capital facility 7,8. IRCC agrees to purchase locally grown rice produced according to conservation friendly standards at premium prices; farmers are paid an average 30 to 40% more than standard market prices for their harvest. 5 Since the rice is certified as environmentally friendly, the rice is sold onward by IRCC to customers around the world at premium prices. 6 Further reading: https://www.3ieimpact.org/sites/default/files/2020-03/IE106-DPW1.1045-Cambodia-PES.pdf https://cambodia.wcs.org/Initiatives/Sansom-Mlup-Prey.aspx https://www.sansommluppreykh.org/ibis-rice