Biodiversity Finance Initiative (BIOFIN II)
As of: July 2020
Objective and activities
The financing of biodiversity conservation is a key issue in the implementation of the CBD. Most countries lack reliable information on the actual costs that are needed to effectively implement their biodiversity strategies, nor do they know where the necessary funds can be sourced and how they can be used to implement their strategies. The BIOFIN initiative, meanwhile active in over 35 countries, is a global partnership that supported its partner countries by addressing these knowledge gaps. Financing solutions are being developed and implemented in a second step.
Biodiversity Finance Initiative – BIOFIN
State of implementation/results
- At COP 12 - Decision on Resource Mobilisation (UNEP/CBD/COP/DEC/XII/3) , since then member states call for extension and application of BIOFIN.
- The BIOFIN methodology is now implemented in 36 countries. – Countries are now in Phase II fully engaged in developing and implementing biodiversity finance solutions.
- The BIOFIN Catalogue of Finance Solutions lists over 150 finance solutions.
- BIOFIN produced a very comprehensive Online exchange platform and products, focusing on finance solutions.
- first BIOFIN MOOC took place in April 2019 attracting over 3300 participants and is now available as a fully self-paced module.
- New publication 'Moving Mountains: Unlocking Private Capital for Biodiversity and Ecosystems' was published early 2020 to clarify the options countries have to engage with the private sector.
- In the Philippines, new legislation on protected areas was adopted in June 2018, adding 94 protected areas to the national system, ensuring associated financ, to promote sustainabiltiy related initiatives.
- Sri Lanka adopted a new green finance policy, a new certification system for sustainable tourism and is rolling out the first ever Payments for Ecosystems Scheme
- Georgia’s government approved a significantly expanded budget, with an over $200,000 increase for biodiversity investments
- An integrated biodiversity finance plan was developed in Seychelles and endorsed by the cabinet of minister. The following four group thematic finance solutions were prioritized; establishing Biodiversity Finance Unit (BFU) within Government, biosecurity fees, tourism fees and fisheries.
- In Guatemala, BIOFIN provided support on budgetary planning process covering five municipal governments. Efforts led municipalities programmed a total of US$ 710,087 for coastal and marine management this is an increase of 84% from 2019 planned budget.
- In Mexico, two environmental funds were re-designed, with a climate fund now focusing more on ecosystems, and attracting new allocations worth US$ 4.8 Million. A green fund for Mexico city generated a saving of US$ 3 million per year.