Innovative financial mechanisms explore supplementary yet more sustainable financial and economic approaches to human interaction with biodiversity and ecosystem services. Based upon the modern financial and economic methods, innovative financial mechanisms seek to develop financial and economic solutions to the current biodiversity crisis and to transform the prevailing financial and economic systems that have been distortionary in sustaining life on earth, thus avoiding unsustainable commodification of the nature. Innovative financial mechanisms are considered as important instruments to mobilize new and additional financial resources for achieving the Convention‘s objectives, and explored in the broad context of innovation for biodiversity while recognizing the close synergies between conserving biodiversity, combating desertification, and mitigating and adapting to climate change. As the only innovation process under the Convention, further work on innovative financial mechanisms will likely be organized around the following four priorities for national and international action:
- Empower Parties and relevant stakeholders to explore innovative financial mechanisms through education and training events, and foster appropriate skills and attitudes needed for innovative financing;
- Mobilize private funding through innovative financial mechanisms by fostering biodiversity entrepreneurship and enabling biodiversity entrepreneurs to experiment, invest and expand creative economic activities that contribute to addressing biodiversity challenges;
- Facilitate efficient knowledge development and flows through the development of networks and markets which enable the creation, circulation and diffusion of knowledge;
- Explore and apply innovative financial mechanisms to address global and social challenges as related to biodiversity loss, including through the development of international mechanisms to provide finance and incentives to address global challenges through innovation in developed and developing countries.
Resource mobilization information digest No. 502: National Experience and Perspectives in Innovative Financial Mechanisms
. This digest provides a compilation of the submissions from Canada, Costa Rica, Ecuador, European Union, India, Japan, Mexico, Moldova, Norway, and Russian Federation with respect to innovative financial mechanism in 2012 in preparation of the eleventh meeting of the Conference of the Parties.
Policy Options Concerning Innovative Financial Mechanisms (UNEP/CBD/WG-RI/3/8, 15 February 2010) (ar en es fr ru zh
Innovative Financial Mechanisms: Report of the proceedings of the International Workshop on Innovative Financial Mechanisms (UNEP/CBD/WG-RI/3/INF/5, 6 May 2010) (en
) (workshop website