Economics, Trade and Incentive Measures

ID 100220
Submitting Entity UNDP
Main Information
Title The Biodiversity Finance (BIOFIN) Initiative
Description Iin October 2012 UNDP launched the Biodiversity Finance Initiative – BIOFIN, as a new global partnership seeking to address the biodiversity finance challenge in a comprehensive manner – building a sound business case for increased investment in the management of ecosystems and biodiversity, with a particular focus on the needs and transformational opportunities at the national level. BIOFIN aims to develop a methodology for quantifying the biodiversity finance gap at national level, for improving cost-effectiveness through mainstreaming of biodiversity into national development and sectoral planning, and for developing comprehensive national resource mobilising strategies. BIOFIN will thus provide a framework for undertaking 'bottom-up' analyses of the biodiversity finance gap and resource mobilization strategies, through a transformative process led by national stakeholders. 
Working with a global technical unit managed by UNDP, 19 countries are currently involved in developing and piloting the new methodology, which will be refined through regional and global learning, and made available more widely. These countries are Botswana, Chile, Colombia, Costa Rica, Ecuador, Fiji, Guatemala, India, Indonesia, Kazakhstan, Malaysia, Mexico, Peru, Philippines, Seychelles, South Africa, Thailand, Uganda and Zambia. As additional resources are leveraged, a broader group of countries can be supported. BIOFIN also ties in with the development of the new generation of NBSAPs to identify national strategies and priority actions, since these will feed into the BIOFIN process in the pilot countries. The tools developed through BIOFIN will be applied in the 42 countries that UNDP is supporting to undertake new generation NBSAPs, and will be made available to all 193 CBD Parties through the NBSAP Forum.
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Additional Information
Source This initiative of the United Nations Devlopment Programme (UNDP) is currently working in 19 countries supporting governments to: (i) review policies and institutions relevant for biodiversity finance; (ii) determine baseline investment and assess the costs of implementing National Biodiversity Strategies and Action Plans, thereby quantifying the biodiversity finance gap; (iiii) develop comprehensive national resource mobilization strategies, and to (iv) initiate the implementation of those resource mobilization strategies.
Countries Botswana
Costa Rica
South Africa
Ecosystems Agricultural Biodiversity
Biodiversity for Development
Dry and Sub-Humid Lands Biodiversity
Forest Biodiversity
Inland Waters Biodiversity
Marine and Coastal Biodiversity
Island Biodiversity
Polar Biodiversity
Mountain Biodiversity
Regions Africa
Asia and the Pacific
Latin America and the Caribbean
Incentive Measures Positive Incentives (subsidies, tax breaks, ...)
Economic Valuation
Keywords Financing