In recent decades, biodiversity finance tools and solutions have demonstrated their importance for achieving biodiversity goals and broader sustainable development objectives. Improved choice, design and implementation of effective, well-tailored finance solutions will strengthen countries’ chances of achieving national and global biodiversity targets.
The Biodiversity Finance Initiative – BIOFIN – was developed to provide a comprehensive methodology for governments to: 1) review the existing policy context, 2) measure expenditure levels for biodiversity, 3) calculate future financial needs and 4) design strategic plans to deploy the right mix of finance solutions, tailored to the country context. The methodology has been conducted in 35 countries to date, with many now having reached the implementation stage.
BIOFIN is supported by the Governments of Germany, Flanders, Norway, Switzerland and the European Union. The initiative is part of UNDP’s Global Environmental Finance (UNDP-GEF) unit, hosted by the Ecosystems and Biodiversity (EBD) cluster under UNDP’s Bureau for Policy and Programme Support (BPPS).