BIOFIN - Biodiversity Finance Initiative

BIOFIN is a UNDP-managed programme that supports countries with a methodology that provides innovative steps to measure current biodiversity expenditures, assess financial needs, identify the most suitable finance solutions and provides guidance on how to implement these solutions to achieve their national biodiversity target. The BIOFIN methodology takes shape through three assessments that culminate in a Biodiversity Finance Plan. The steps include: - The Biodiversity Finance Policy and Institutional Review (PIR) looks into the policy and institutional context for biodiversity finance in the country and establishes which are the key stakeholders to involve. - The Biodiversity Expenditure Review (BER) is an analysis of public and private expenditures in the country that benefit biodiversity. The assessment establishes past, present and projected expenditures on biodiversity. - The Financial Needs Assessment (FNA) estimates the finance required to deliver national biodiversity targets and plans, usually described in the NBSAPs. - The Biodiversity Finance Plan (BFP) identify and prioritises a mix of suitable biodiversity finance solutions to reduce the biodiversity finance gap. The last component of the BIOFIN process is the implementation phase. The BIOFIN national teams make a selection between the prioritised finance solutions and provide technical support for their implementation.