BIOFIN activities in India
In January 2015, the global BIOFIN team undertook a mission to discuss with various national stakeholders about the exact scope and timing of activites. One of the outcomes of these discussions was that BIOFIN will also work at the state level to pilot the methodology. Several national agencies will play a key role.
Activities in India will follow as:
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 identify the financial gap for biodiversity and the overall costs to complete all activities and reach the targets of the National Biodiversity Action Plan.
Status: To start late 2015
4. Biodiversity Finance Plan
Under this component BIOFIN will develop a strategy to mobilize potential finance actors and finance mechanisms to raise revenue for biodiversity and ecosystem services conservation.
Status: To start in 2015
4. Implementing the Biodiversity Finance Plan
BIOFIN will work with the Indian government to strengthen the actual resource mobilisation process.
Status: To start in 2016
5. Knowledge Products
Information about the country and partnerships
India is classified as a mega diverse country, home to several 200 Eco-regions. It is the last resort for over 40 critically endangered species, including the Himalayan Wolf, the Indian Vulture and the rare Ganges Shark. The number of protected areas established to protect these and other species now exceeds 120. India has an elaborate system of national and state organisations to conserve and finance biodiversity.
Latest News of BIOFIN in India