In order to support the implementation of the National Biodiversity Strategy and its Action Plan for 2016-2021 (NBSAP), the Government of Ecuador has worked on designing a plan to mobilize financial resources that will contribute to increase investments both from the public and private sector at the national level, as well as financing flows from international cooperation, in order to meet the objectives of knowing, valuing, protecting, restoring and using biodiversity in a sustainable way in Ecuador.
As part of this effort, the United Nations Development Programme, the Ministry of Environment of Ecuador (MAE), the Ministry of Finance of Ecuador (MFE), the National Secretariat for Planning and Development (SENPLADES), and the Water Secretariat (SENAGUA) have been participating in the development of the Global Biodiversity Finance Initiative (BIOFIN).
In Ecuador, BIOFIN has analyzed the legal and institutional framework, reviewed biodiversity expenditures from the public and private sector, as well as identified funding needs and the financial gaps to implement a selected set of results, measures and actions of the ENBPA until 2021. On this basis, this resource mobilization plan identifies different financial sources, modalities and mechanisms that can contribute to fulfill the national objectives related to the sustainable management of biodiversity.
The implementation of BIOFIN in Ecuador was based on a sectoral approach. That is to say, the analyzes suggested in the Workbook focused on the economic sectors with a) the greatest drivers of loss and degradation of biodiversity, b) the greatest opportunities for mobilizing resources in favor of biodiversity; and, c) where there is a solid information base that is official and accessible to BIOFIN. The selected areas were: 1) agricultural, 2) renewable (hydro-generation) and non-renewable (mining and oil); and, 3) environment, specifically linked to the biodiversity subsector.
- An analytical and methodological framework for financial planning for biodiversity established.
- The need for integration and synergy of various strategic and financial management instruments of the environmental sector is well positioned.
- A proposal for the application of sustainable water tariffs within the framework of watershed management approved.
- Officialization by the national government via Executive Decree on the structuring of the Sustainable Environmental Investment Fund (FIAS).
With emphasis on the analysis of public policies and the institutional architecture for the financing of national biodiversity priorities.
Review of expenditure incurred in the period of 2008-2014 from various economic sectors relevant to the sustainable management of biodiversity.
Estimation of the financing needs required to implement the National Biodiversity Strategy and calculation of the financial gap for the implementation of national results, targets and actions up to 2021.
Identification of the different sources, mechanisms, financial instruments and opportunities for additional resource mobilization to reduce the biodiversity financial gap and ensure the sustainability of investments in biodiversity.
Support in the implementation of policy recommendations, such as the improvement or creation of financial mechanisms and the integration of financial solutions within the national planning cycles.