Biodiversity financing for the implementation of the GBF: Results and lessons learned from the development of National Biodiversity Finance Plans

Monday 19 October @13:15

Room: Parz - Contact Group 4

https://www.cbd.int/side-events/7028

Session description

A significant funding gap exists for biodiversity conservation, estimated at USD 700 billion annually globally. While public sources dominate current funding, both interest and experience are growing in significantly increasing the role of private investment. Aligning government expenditures and policies with biodiversity conservation remains vital, including redirecting harmful subsidies. While structural, economic, and political barriers remain to biodiversity finance, the Kunming-Montreal Global Biodiversity Framework provides a context for increasing investment, reforming harmful incentives, and fostering sustainable finance solutions. Successful implementation hinges on political will, private sector involvement, and improved financial governance. Notwithstanding the unique conditions in each country and context, effective resource mobilization presents common challenges.

Countries can systematically assess and address these challenges in National Biodiversity Finance Plans, developed in accordance with Target 19 and the Resource Mobilization Strategy (COP16/34), to implement their National Biodiversity Strategy and Action Plans (NBSAPs). National commitments drive National Biodiversity Finance Plans, including through NBSAP objectives, strategies, and actions to address biodiversity loss.

This event synthesizes findings and lessons learned from work to prepare the National Biodiversity Finance Plans in Belgium, Finland, the Netherlands, and Luxembourg. In a project supported by the European Commission and implemented by IUCN, these four countries adopted the UNDP BIOFIN methodology to guide their work, conducting a Policy and Institutional Review, a Biodiversity Expenditure Review, a Financial Needs Assessment, and finally, developing recommendations for a National Biodiversity Finance Plan. In addition, each country assessed subsidies harmful to biodiversity. The National Biodiversity Finance Plans seek to implement reforms that drive policy changes, investment, competitiveness, and nature restoration. Overall, the work strengthens institutional capacity at all levels to enable inclusive and green transitions, address country-specific challenges, and implement EU law.

The session will also share experiences and guidance from developing countries, drawing on more than a decade of experience in national biodiversity finance planning and implementation under the UNDP BIOFIN program. This creates unique opportunities for cross-learning, including south-to-north knowledge transfer to support resource mobilization for the GBF implementation.

Each country and participating organization will share their experiences, key findings, and lessons learned. Each country and organization will focus on topics most relevant to their work and findings. Discussions will address challenges, opportunities, and innovations in mobilizing both public- and private-sector finance. The session will highlight differences and similarities between countries and regions, while drawing out lessons and innovations applicable across contexts. The discussion includes findings from an OECD report on good practices for mobilizing public and private finance for biodiversity, developed as part of this project. The event also includes reflections on differences and commonalities between developing and developed countries in implementing the BIOFIN approach to resource mobilization.

Program 

Moderator: Juha Siikamäki, IUCN

Opening remarks

• Hans Stielstra, European Commission

Presentation of country experience and findings

Introduction

• Juha Siikamäki, IUCN

Country presentations

• Jules De Brabander, Belgium

• Suvi Borgström, Finland

• Alexander Verkerk, The Netherlands   

• Eric Schauls, Luxembourg   

• Edward Perry, OECD

Discussant 

• Onno van den Heuvel, Global Lead Biodiversity Finance, UNDP

Audience engagement

• Panel discussion including audience questions & answers by the panel members

Closing and Wrap-up (10 min)

• Each panel member shares a key insight
• Moderator synthesizes common lessons and recommendations

Organisations/countries: IUCN, European Commission, Belgium, Finland, the Netherlands, Luxembourg, OECD, UNDP