Fast-tracking Transformation through Sustainable Public Finance for Biodiversity (FAST)
The project focuses on aligning public finance with biodiversity protection through fiscal policy and budget restructuring. In the partner countries, all of them hosting biodiversity hotspots, public finances are misaligned with sustainability goals with fiscal policies continuing to promote environmentally harmful, emission- and resource-intensive economic activities. For successful fiscal policy intervention, it is essential to align the overall budget, actively engage stakeholders and ensure transparency. These aspects are critical to navigating the complex interactions between political and economic interests, public acceptance and policymaking. The project will therefore support the partner countries in implementing inclusive sustainable public finance measures to incentivize climate and biodiversity actions, contributing to the objectives of the Paris Agreement and the Global Biodiversity Framework.
- Countries
- Brazil, Costa Rica, Indonesia, Nigeria
- IKI funding
- 20,000,000.00 €
- Duration
- 03/2024 till 11/2031
- Status
- open
- Implementing organisation
- Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH
- Political Partner
-
- Ministry of Finance (MF) - Brazil
- Ministry of Finance - Costa Rica
- Ministry of Finance - Indonesia
- Ministry of Finance - Nigeria
- Implementing Partner
-
- ActionAid Nigeria
- Asociación Costa Rica Íntegra - Costa Rica
- BudgIT Foundation
- Fundação Getulio Vargas (FGV)
- Indonesian Biodiversity Foundation (KEHATI)
- The Inter-American Institute for Cooperation in Agriculture (IICA)
- United Nations Environment Programme (UN Environment) - Kenya
State of implementation/results
- After receiving the commission for the implementation in December 2025, the project team is setting up its local and global steering and governance structure as well as internal knowledge management and communication structures. This includes reach out to relevant stakeholders and project partners. Besides the national project launch events, also a global launch is currently being planned for the second half of the year to announce the project together with all partnering Finance Ministries in front of a global audience.
- In all four partner countries Brazil, Costa Rica, Indonesia, and Nigeria the national FAST team in collaboration with the respective Ministry of Finance (MoF) is finalising the operational planning of activities for the first year of project implementation (2026). Close coordination with the political partners makes sure all relevant line ministries and further stakeholders are involved and activities are aligned with ongoing national initiatives.
- Contact to the IKI interface projects in Brazil, Costa Rica and Indonesia has successfully been established. FAST has so far been announced at the 5th IKI Central America and Caribbean Workshop in May 2025 in Costa Rica and at the regional online IKI LAC event “Mobilisation of sustainable financing in Latin America and the Caribbean” in February 2026.
- The FAST project team is exchanging with the UNDP Biodiversity Finance Initiative (BIOFIN), to identify synergies and/or build upon BIOFIN’s work in every partner country.
- Initial minor activities were already launched during the preparation phase of FAST. These included, for example, organising a preparatory webinar on the Sustainable Budgeting Approach with the finance ministries in Indonesia and Nigeria, and conducting two preliminary studies on the implementation of the project in Indonesia and Nigeria.
- In Brazil, preparatory work has started for the development of the second edition of the Brazilian Sustainable Taxonomy which will address the environmental objectives of “conversation and protection of biodiversity and ecosystems” and “conservations, sustainable management and use of forests and land”.
Latest Update:
05/2026
Project relations
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