Fast-tracking Transformation through Sustainable Public Finance for Biodiversity (FAST)

In partner countries, public finances are often not yet aligned with sustainability goals, promoting an environmentally harmful economy that is emissions- and resource-intensive. The project supports them in increasingly aligning their fiscal policies and national budgeting with the protection of biodiversity. To achieve this, it is crucial to orient the overall budget accordingly, actively involve stakeholders, and ensure transparency in order to manage the interactions between political and economic interests, public acceptance, and policy-making. The project supports the Ministries of Finance in the partner countries in implementing sustainable fiscal measures to create incentives for climate and biodiversity action, and to contribute to the goals of the Paris Agreement and the Kunming-Montreal Global Biodiversity Framework.

Project data

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
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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:
09/2026

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