Tuesday,April 7, 2020

Biodiversity Finance Initiative (BIOFIN)

BIOFIN– : Building Transformative Policy and Financing Frameworks to Increase Investment in Biodiversity Management

Project Manager: Annabelle E. Plantilla

The Biodiversity Finance Initiative (BIOIFIN) project 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 mobilizing strategies.

The project is expected to contribute to closing the global financing gap and conservation and sustainable use of biological diversity by assisting developing countries in identifying, assessing, combining and sequencing sources of biodiversity funding to meet their specific needs.

The BioFin is a methodology or approach, through the use of a workbook, that will provide guidance to countries on how to assess financial needs, how to mobilize the financial resources required to fully implement their NBSAPs, and to achieve the Aichi Biodiversity Targets of the Convention of Biological Diversity (CBD) at a national level.

Project Objectives

1. Review the country’s policies and institutions relevant to biodiversity finance
2. Determine baseline investment and assess the cost of implementing National Biodiversity Strategy and Action Plans (NBSAP)
3. Develop Comprehensive National Resource Mobilization Strategies (CNRMS)
4. Initiate the implementation of the Resource Mobilization Strategies (RMS)

Project Components

1.  Policy & Institutional Review
2.  Public & Private Expenditure Review
3.  PBSAP Costing & Determining Financing Gap
4.  Financing Plan

*****Source and Further Reference*****

Overview of the Philippine Biodiversity Strategy & Action Plan (PBSAP) & Biodiversity Finance Initiative:  BIOFIN