Biodiversity Finance Initiative – BIOFIN
As of: March 2019
Objective and activities
A key issue within the implementation of the Convention for Biodiversity (CBD) is the lack of financial resources for the protection of biodiversity. Most states lack reliable information on what funds are needed to effectively implement the CBD's Strategic Plan, where these funds can be sourced and how they can be adequately and effectively assigned. The Project addressed these gaps in knowledge. BIOFIN generated data on previous investments in the conservation and sustainable use of biological diversity, as well as the resources needed for the implementation of the Strategic Plans in each country. On this basis, the gap between demand and actual financing could be calculated. The gained information was integrated in the development of approaches that aimed to improve the financing of the conservation of biodiversity in the long-term. The project known as BIOFIN continues to be funded by IKI under a new project number (17_IV_047_Global_M_Transformative Policy (BIOFIN II).
State of implementation/results
- This project is being continued under the new project number 17_IV_047_Global_M_Transformative Policy (BIOFIN II)
- By now, the project is implemented 30 countries already
- Most of the initial 19 countries have already started to set up a concrete financial planning for their National Biodiversity Stategy and Action Plans (NBSAPs).
- With the COP 12 Decision on Resource Mobilisation (UNEP/CBD/COP/DEC/XII/3) the CBD countries formally support the BIOFIN methodology and recommend its application and expansion
- The BIOFIN Workbook launched in 2016 was revised, backed by webinars and translated into various languages. The partner counties have access now to 4 knowledge sharing platforms: 1) an updated BIOFIN website including a catalogue of > 150 financing solutions for biodiversity 2) UNDP’s Financing Solutions for Sustainable Development-Platform 3) BES-Net 4) NBSAP forum.