Available evidence and the decisions adopted by Parties to the Convention on Biological Diversity (CBD) indicate that a significant gap remains in finance for biodiversity management, for countries to drastically scale up their efforts and achieve the 20 Aichi Targets defined in the CBD’s Strategic Plan for 2011-2020. A preliminary assessment recently conducted under the auspices of the High Level Panel on Global Assessment of Resources for Implementing the CBD Strategic Plan for 2011-2020, estimated that the global investment required amounts to between 130 and 440 billion US$ annually.
The Biodiversity Finance Initiative (BIOFIN)
In this context, UNDP in October 2012 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, 30 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 include Belize, Brazil, Botswana, Bhutan, Chile, Colombia, Costa Rica, Cuba, Ecuador, Fiji, Georgia, Guatemala, India, Indonesia, Kazakhstan, Kyrgyzstan, Malaysia, Mexico, Mongolia, Mozambique, Peru, Philippines, Rwanda, Seychelles, South Africa, Sri Lanka, Thailand, Uganda, Vietnam 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.