BIOFIN activities in Fiji
BIOFIN work in Fiji has start in 2014. The team follows a focused approach for 7 thematic areas: 1) Forest Conservation; 2) Invasive Species; 3) Inshore Fisheries; 4) Coastal Development; 5) Species Conservation; 6) Protected Areas, and; 7) Inland Waters. The progress on the 4 BIOFIN components is as follows:
1. Biodiversity Finance Policy and Institutional Review (PIR)
Through this process, the national BIOFIN Team maps the impact of economic sectors on biodiversity, identifies the main financing mechanisms being used and reviews which subsidies have an impact on biodiversity. The PIR also reviews the overall financing architecture for biodiversity in the country and generates specific recommendations for an improved institutional framework.
2. Biodiversity Expenditure Review
Through the Biodiversity Expenditure Review, the national BIOFIN team assesses which expenditures national stakeholders incur towards biodiversity, from both national and international resources, including the public and private sector. This helps the country generate national level expenditure data on biodiversity.
3. Biodiversity Finance Needs Assessment
Detailed calculations will be made to find out how much it would cost to complete all activities and reach all goals of the National Biodiversity Action Plan. To start in 2015.
4. Biodiversity Finance Plan
Under this component BIOFIN will develop a strategy to mobilize potential financial resources and mechanisms to reach national biodiversity targets. Starting in 2015.
5. Implementing the Biodiversity Finance Plan
BIOFIN will implement activities and make use of finance mechanisms to raise revenues for biodiversity and ecosystem services conservation. To start in 2016.
Information about the country and partnerships
The 332 islands of Fiji host many endemic species, including over a thousand plant species and 12 types of reptiles. Human impacts are limited on many islands, as over 200 are uninhabited and 87% of the human population resides on the 2 main islands. Around 50% of the land territory is covered in forests. Land and marine natural resources are at the heart of the Fijian Economy, with tourism revenues exceeding 165% Million US$ per year. Conservation measures include the establishment of over 100 Locally Managed Marine Protected Areas (LMMAs).