Submission declined on 10 January 2025 by Ktkvtsh (talk). This submission appears to read more like an advertisement than an entry in an encyclopedia. Encyclopedia articles need to be written from a neutral point of view, and should refer to a range of independent, reliable, published sources, not just to materials produced by the creator of the subject being discussed. This is important so that the article can meet Wik.ipedia.Pro's verifiability policy and the notability of the subject can be established. If you still feel that this subject is worthy of inclusion in Wik.ipedia.Pro, please rewrite your submission to comply with these policies. If you would like to continue working on the submission, click on the "Edit" tab at the top of the window. If you have not resolved the issues listed above, your draft will be declined again and potentially deleted. If you need extra help, please ask us a question at the AfC Help Desk or get live help from experienced editors. Please do not remove reviewer comments or this notice until the submission is accepted. Where to get help If you need help editing or submitting your draft, please ask us a question at the AfC Help Desk or get live help from experienced editors. These venues are only for help with editing and the submission process, not to get reviews. If you need feedback on your draft, or if the review is taking a lot of time, you can try asking for help on the talk page of a relevant WikiProject. Some WikiProjects are more active than others so a speedy reply is not guaranteed. How to improve a draft Wik.ipedia.Pro:Contributing to Wik.ipedia.Pro – a basic overview on how to edit Wik.ipedia.Pro. Help:Wikitext – how to use the markup Help:Referencing for beginners – how to include references Wik.ipedia.Pro:Article development – how to develop your article Wik.ipedia.Pro:Writing better articles – how to improve your article Wik.ipedia.Pro:Verifiability – make sure your article includes reliable third-party sources You can also browse Wik.ipedia.Pro:Featured articles and Wik.ipedia.Pro:Good articles to find examples of Wik.ipedia.Pro's best writing on topics similar to your proposed article. Improving your odds of a speedy review To improve your odds of a faster review, tag your draft with relevant WikiProject tags using the button below. This will let reviewers know a new draft has been submitted in their area of interest. For instance, if you wrote about a female astronomer, you would want to add the Biography, Astronomy, and Women scientists tags. Add tags to your draft Editor resources Easy tools: Citation bot (help) | Advanced: Fix bare URLs Declined by Ktkvtsh 95 minutes ago. Last edited by Nihadl 4 seconds ago. Reviewer: Inform author. Resubmit Please note that if the issues are not fixed, the draft will be declined again.

• Comment: This reads like it is promotional content for the subject. See WP:PROMO Ktkvtsh (talk) 20:26, 10 January 2025 (UTC)

BIOFIN (Biodiversity Finance Initiative) is a global program launched in 2012 by the United Nations Development Programme (UNDP)^[1] to address the Biodiversity Finance Gap.^[2] Its primary goal is to support countries in achieving their national biodiversity conservation targets.^[3] It does so by mobilizing new financial resources, optimizing the use of existing funds, and redirecting resources from activities that harm biodiversity toward nature-positive initiatives. BIOFIN works in collaboration with governments, the private and financial sectors, civil society, and vulnerable communities to drive investments in nature and promote sustainable development.^[4]

The initiative supports the development of National Biodiversity Finance Plans^[5] in 133 countries. These plans, informed by detailed assessments, include 10 to 15 prioritized finance solutions tailored to each country’s needs, selected from a comprehensive list of over 150 identified options.^[6] These solutions aim to secure and enhance the country’s biodiversity financing. The broader set of 150 finance solutions is compiled in the BIOFIN Catalogue of Finance Solutions, an online repository that provides a detailed list of tools, instruments, and strategies applicable to biodiversity finance.^[7]

BIOFIN operates within UNDP’s Nature Hub, a division of the Bureau for Policy and Programme Support (BPPS).^[8] It is one of the flagship initiatives under UNDP’s “Nature Pledge: For People, For Planet”, a global commitment to integrate nature into development efforts.^[9] This pledge aims to secure a sustainable, equitable, and inclusive future by driving a green transition that benefits both people and the planet.

BIOFIN supports biodiversity conservation and, in doing so, contributes to the achievement of all Sustainable Development Goals, recognizing that nature is fundamental to achieving each of them.^[10] It is also closely aligned with the Global Biodiversity Framework, which sets 23 global targets for urgent action by 2030 to halt and reverse biodiversity loss.^[11] While all these targets require financial resources to be met, Targets 14, 15, 16, 18, and 19 specifically focus on biodiversity finance.^[12]

BIOFIN uses a distinctive, bottom-up methodology^[13] that is flexible and adaptable to diverse national contexts.^[14] This approach is nationally driven, led by a national steering committee [1], and actively involves a wide range of stakeholders, including representatives from the public and private sectors, as well as NGOs and CSOs. The methodology aims to achieve four primary outcomes: generating revenues, avoiding future costs, realigning expenditures, and enhancing the delivery of conservation actions.^[15]

Beyond its national-level initiatives, BIOFIN has made a significant global impact by establishing itself as a knowledge platform on biodiversity finance and fostering a vibrant Community of Practice. Its global and regional conferences such as the 5th Global Conference on Biodiversity Finance held in 2023 South Africa^[16] have brought together diverse stakeholders to address biodiversity finance challenges and share innovative solutions. BIOFIN has also produced a range of impactful knowledge products and tools, empowering countries to design and implement effective finance strategies. Additionally, it has created a collaborative community that encourages cross-country learning and experience-sharing, driving global progress toward sustainable biodiversity financing.

The creation of BIOFIN was driven by the urgent need to address the global biodiversity financing gap, estimated at $700 billion annually.^[17] This gap highlights the necessity for innovative financing mechanisms to conserve biodiversity and meet global targets.^[18] In response, BIOFIN was launched to redirect financial resources from diverse sources toward achieving both national and global biodiversity goals.^[19]

• 2012: BIOFIN was launched at the 11th Conference of the Parties to the Convention on Biological Diversity (CBD COP 11) by UNDP and the European Commission.[2]
• 2012–2013: Phase I began, introducing the first methodology for biodiversity expenditure reviews, costing for national biodiversity objectives, and developing national financing plans. Initially, 30 countries participated.
• 2016: Production of the BIOFIN 2016 Workbook, the second edition of the methodology
• 2018: Phase II commenced, focusing on the implementation of finance solutions. The 2018 BIOFIN Workbook and the 3rd Global Conference were launched.
• 2019: Phase I concluded with five additional countries joining BIOFIN. The Biodiversity Finance e-learning module was launched.
• 2020: Implementation efforts continued amidst the COVID-19 pandemic. A virtual conference was held with OECD, focusing on biodiversity finance and the new targets of the Global Biodiversity Framework.
• 2022–2023: Phase II was extended, with 41 countries participating. Global Environment Facility (GEF) funding supported the development of Biodiversity Finance Plans for 91 countries. The 5th Global Conference was held.
• 2024: BIOFIN expanded its support to a total of 133 countries through the support of GEF-8. Production of the 2024 BIOFIN Workbook.

BIOFIN was developed to provide governments with a comprehensive methodology^[20] to address barriers in closing the biodiversity finance gap.^[21] Its primary mission is to equip countries with the tools and strategies needed to overcome these challenges and achieve their biodiversity conservation goals. BIOFIN focuses on unlocking financial resources from diverse sources, including public funds, private investments, and innovative financing mechanisms.^[22] By mobilizing these resources, avoiding future costs, realigning expenditures, and improving effectiveness, BIOFIN aims to help close the estimated $700 billion annual biodiversity financing gap.^[23]

At the national level, BIOFIN works to close the biodiversity finance gap by driving transformational changes across three key areas^[24]:

• Policy: Promoting nature-positive regulatory and policy changes.
• Institutions: Strengthening institutions to support nature-positive financial and economic planning, policy, implementation, and leadership.
• Finance: Supporting financial mechanisms that deliver nature-positive outcomes.

These efforts contribute to achieving four main financial results^[25]:

• Realigning expenditures: Reducing negative impacts and enhancing positive biodiversity outcomes through strategic budgetary adjustments.
• Avoiding future costs: Mitigating future expenditures by investing in biodiversity and implementing forward-thinking policies.
• Delivering better results: Improving conservation effectiveness, efficiency, and synergies.
• Generating revenues: Mobilizing targeted financial resources specifically for biodiversity.

In addition to its focus on biodiversity finance, BIOFIN has a bottom-up approach and an emphasis on capacity building. BIOFIN plays a role in enhancing local capacity and fostering ownership over biodiversity financing strategies, ensuring long-term sustainability and alignment with national priorities.

BIOFIN operates based on six core principles:

1. Flexibility: The BIOFIN methodology and results are adaptable to the specific needs, objectives, and contexts of national stakeholders and individual countries.
2. Evidence-driven: Finance solutions are selected, designed, and implemented based on robust and reliable evidence.
3. Inclusiveness: Decision-making and prioritization involve extensive consultations with diverse stakeholders, supported by a strong emphasis on capacity-building.
4. Leaving no one behind: The needs of the poorest and most vulnerable populations, including local and Indigenous communities, are prioritized. Solutions aim to alleviate poverty and create biodiversity-related opportunities for these groups.
5. Gender-sensitivity: Gender-positive processes and outcomes are actively promoted. The potential gendered impacts of finance solutions are carefully considered and mitigated.
6. Openness and transparency: Transparent disclosure of expenditure and investment data enhances efficiency, effectiveness, and citizen participation. However, BIOFIN and UNDP ensure full respect for privacy rights, confidentiality clauses, and the sovereignty of public data.

The Transformational BIOFIN process is also guided by eight interconnected pillars designed to create systemic and sustainable change in biodiversity finance. These pillars include: [3]

1. High-level government engagement: Building strong collaboration and commitment at the highest levels of government.
2. Forging partnerships: Establishing new partnerships across ministries of finance, planning, and environment to ensure cohesive action.
3. Private sector engagement: Increasing the involvement of private sector stakeholders in biodiversity financing.
4. Policy integration: Directly engaging with key decision-makers and aligning with ongoing policy processes.
5. Capacity development: Making capacity building central to all activities to empower local stakeholders.
6. Communication and advocacy: Combining technical work with effective advocacy and communication strategies.
7. Sustainability strategy: Developing sustainable strategies with clear opportunities for institutionalization.
8. Adaptability: Tailoring methodologies and implementation mechanisms to the unique contexts of each country.

These pillars collectively aim to enhance the effectiveness, efficiency, and impact of biodiversity finance efforts at the national and global levels.

The BIOFIN methodology provides a structured framework for countries to develop and implement effective biodiversity finance solutions. This process involves six key stages:

1. Preparation and launch of the Initiative

Upon receiving a formal request from a government to develop a Biodiversity Finance Plan (BFP) and if budgets are available, BIOFIN, in coordination with the UNDP Country Office, initiates the project by recruiting a national team of experts. These experts enhance local capacities and ensure the development of context-specific solutions. A National Steering Committee is then established, composed of stakeholders from the public, private and financial sectors, non-governmental organizations, and civil society. The Ministry of Finance typically co-chairs the steering committee alongside the Ministry of Environment. This multi-stakeholder approach ensures broad ownership and alignment with national priorities.[4]

2. Biodiversity Finance Policy and Institutional Review (PIR)

The Policy and Institutional Review (PIR) assesses the policy and institutional framework for biodiversity finance within the country^[26]. It identifies key stakeholders, evaluates existing policies, outlines preliminary finance solutions, and examines the enabling environment for implementing biodiversity finance solutions. This step lays the foundation for developing actionable recommendations.[5]

3. Biodiversity Expenditure Review (BER)

The Biodiversity Expenditure Review (BER) examines biodiversity-related expenditures across public and private sectors, analyzing past, current, and projected spending trends to evaluate financial flows supporting biodiversity.^[27] By assessing the alignment of expenditures with policy priorities and identifying gaps or inefficiencies, the BER offers a comprehensive understanding of how financial resources are allocated and highlights opportunities to enhance spending effectiveness and biodiversity financing.[6]

4. Financial Needs Assessment (FNA)

The Financial Needs Assessment (FNA) estimates the financial resources required to achieve national biodiversity targets, often aligned with the country’s National Biodiversity Strategy and Action Plan (NBSAP). This step identifies funding gaps, highlights the investments necessary to meet biodiversity goals, and proposes cost-effective financial solutions.^[28]

5. Biodiversity Finance Plan (BFP)

The results of the PIR, BER, and FNA assessments, which typically span 1-2 years, culminate in the development of a Biodiversity Finance Plan (BFP). The BFP is an ambitious, context-based finance plan that supports national biodiversity targets and CBD objectives. The BFP usually takes one year to develop, and identifies and prioritizes a mix of innovative and traditional biodiversity finance solutions tailored to the country’s specific needs, ensuring ownership by the government and endorsement from civil society and the private sector.^[29] The ultimate goal is to close the biodiversity finance gap. A key resource in this process is the Catalogue of Financing Solutions, an extensive online repository of financial instruments, mechanisms, and strategies applicable to biodiversity financing. This catalogue provides practical tools for countries to explore and implement customized solutions.^[30]

6. Implementation

Once the Biodiversity Finance Plan is developed and if budgets are available, countries move to the implementation phase. This stage focuses on executing the prioritized finance solutions outlined in the BFP, engaging stakeholders, mobilizing resources, and monitoring progress to ensure long-term sustainability and impact.

The BIOFIN methodology also integrates climate change and gender considerations as essential components of biodiversity finance planning.^[31] Climate change is addressed by embedding its impacts and mitigation strategies into financial planning processes, while gender equality is promoted through gender-sensitive approaches that aim to generate positive outcomes and address inequalities. These cross-cutting themes are incorporated to ensure that biodiversity finance solutions are both environmentally and socially inclusive.

At the national level, the BIOFIN methodology is being implemented in 133 countries as of 2024. The initiative supports governments in developing tailored biodiversity finance strategies that align with their unique contexts and priorities. This includes 91 new countries added to the program, in addition to the 41 original countries. Notably, Ukraine was recently included as part of the initiative’s expanding reach.^[32]

The development of a Biodiversity Finance Plan (BFP) follows a step-by-step methodology, ensuring that each participating country has a robust, context-specific framework to finance biodiversity conservation effectively.

BIOFIN supports the implementation of a wide range of biodiversity finance solutions tailored to the specific needs and contexts of its partner countries. These initiatives include policy reforms, innovative financial mechanisms, and institutional strengthening, among other approaches. Below are key examples of how the BIOFIN methodology is applied worldwide. Further details on these and other case studies are available through additional resources.

• Mexico: BIOFIN contributed to the construction of Mexico’s Sustainable Finance Taxonomy by issuing recommendations for the agricultural and forestry sectors.^[33] It also achieved over $18 million in financial results, including the redesign of the Mexico City Environmental Fund, leading to improved funding mechanisms for urban biodiversity conservation and green spaces.^[34]
• Philippines: Biodiversity integration into local government budgets has secured over Php 2 billion (USD 40.6 million) for 107 protected areas under the ENIPAS Act, ensuring sustainable conservation funding and better biodiversity protection.^[35]
• Kazakhstan: Biodiversity finance solutions have tripled the budget for protected areas, reaching US$70.3 million in 2023. Key actions included integrating biodiversity funding into national legislation, mandating sustainable management plans, and enhancing the capacities of protected area staff.^[36] It also enabled policy and legislative reforms, such as the development of protected area management plans and budgets, the establishment of carbon and biodiversity offsets, and the introduction of ecotourism certification programs, resulting in enhanced protection of natural reserves and sustainable tourism practices.^[37]
• Malaysia: Enhanced the implementation of the Ecological Fiscal Transfer (EFT), allocating over US$87 million to state governments.^[38] These funds incentivize states to expand and manage protected areas, integrating environmental criteria into fiscal policies.[7]
• Indonesia: Secured US$2.7 million for the Maluku Conservation Center (MCC) through a Green Sukuk, an Islamic finance instrument. This funding supports wildlife rehabilitation infrastructure and efforts to combat illegal trafficking. Additionally, a budget tagging system has enabled the identification and tracking of approximately US$600 million in annual biodiversity spending.^[39]
• Botswana: Collaboration with the government led to the revision of protected area user fees, unchanged for over 20 years. This update generated US$7.8 million in 2022, far exceeding the initial forecast of US$1.8 million.^[40]
• Costa Rica: The “Huella del Futuro” crowdfunding campaign mobilized over US$1.8 million to plant 250,000 trees in northern regions affected by climate change. This initiative advances reforestation, supports green job creation, and aligns with Costa Rica’s goal of increasing forest cover to 60% by 2030.^[41] It also secured $80 million through initiatives such as Payments for Ecosystem Services (PES), crowdfunding campaigns, and tourism investments benefiting indigenous communities, which strengthened forest conservation efforts and supported community-led sustainable development.[8]
• Zambia: A key achievement includes the successful facilitation of Zambia’s first green bond issuance by Copperbelt Energy Corporation Renewables in 2023, which raised $53.5 million as part of a $200 million program, setting a precedent for future green bond issuances.^[42]

These examples highlight BIOFIN’s significant contributions to biodiversity conservation and sustainable development across its partner countries.

On the global stage, BIOFIN serves as a dynamic knowledge hub and a vibrant community of practice, empowering countries to develop and implement effective biodiversity finance strategies. Through the creation of comprehensive manuals, guidelines, and tools, BIOFIN equips governments, organizations, and stakeholders with the resources necessary to advance biodiversity finance globally.

BIOFIN has produced a range of innovative knowledge products, designed to address key biodiversity finance challenges. Some notable examples amongst others include:

• BIOFIN 2024 Workbook: A comprehensive guide for countries to develop and implement effective biodiversity finance plans, offering step-by-step methodologies and case studies from BIOFIN’s global experiences.
• Nature and Subsidies: A Step-by-Step Guide to Repurpose Subsidies Harmful to Biodiversity and Climate report offers a comprehensive framework to identify and repurpose subsidies that negatively impact biodiversity, enabling governments to redirect these funds toward nature-positive initiatives.^[43]
• Results-Based Budgeting for Biodiversity (RBB) 2024 Guidebook. This guide provides practical methodologies for aligning biodiversity goals with government budgets, ensuring results-driven biodiversity investments.
• How Can Biodiversity Finance Plans Support NBSAPs? This publication highlights the integration of Biodiversity Finance Plans into National Biodiversity Strategies and Action Plans (NBSAPs), ensuring cohesive approaches to biodiversity conservation.^[44]
• Fire Database: An online platform presenting more than 360 funding opportunities around the world. This database allows project owners to find in one place a multitude of different opportunities matching specific criteria. FIRE is developed under an umbrella partnership including UNDP-BIOFIN, United Nations Environment Programme Finance Initiative (UNEP FI), Cornell University; the Campaign for Nature, the Conservation Finance Alliance, regions4, the High Ambition Coalition (HAC) and the governments of UK, France, and Belgium.^[45]
• GLOBE (Global Biodiversity Expenditure Taxonomy) is a standardized framework to track, classify, and analyze biodiversity-related expenditures, supporting efficient resource allocation and global biodiversity goals.[9]
• E-Learning Modules: BIOFIN’s e-learning course, Biodiversity Finance, has reached nearly 7,000 participants worldwide. These modules offer accessible, expert-led training on key biodiversity finance concepts, fostering global capacity building.^[46]
• Engagement with the private sector: BIOFIN actively collaborates with private financial institutions to unlock and channel resources toward biodiversity conservation and ecosystem restoration. For example, Moving Mountains: Unlocking Private Capital for Biodiversity and Ecosystems highlights creative ways to mobilize private capital for biodiversity projects. Similarly, Engaging Private Finance in NBSAP Review and Implementation serves as a practical guide for policymakers to involve private finance in biodiversity strategies. Another key resource, National Readiness for Nature-Related Disclosures in Emerging Markets, focuses on helping emerging markets prepare for nature-related financial risks disclosure.

BIOFIN organizes annual regional conferences to promote dialogue and knowledge exchange among biodiversity finance experts and government representatives. These conferences are held across key regions: Africa and the Arab States, Latin America and the Caribbean (LAC), and Europe, Asia, and the Pacific. They aim to share best practices, strengthen regional capacity, and build partnerships among governments, financial institutions, and civil society. These conferences play a pivotal role in advancing global biodiversity conservation efforts by fostering collaboration, capacity building, and the exchange of innovative finance solutions.

Since 2018, BIOFIN has mobilized and catalyzed over a billion USD for biodiversity conservation efforts worldwide, delivering both financial and environmental outcomes in numerous countries.^[47] This substantial financial achievement reflects BIOFIN’s success in unlocking resources from diverse funding sources, including public budgets, private investments, and innovative financial instruments.

At the global level, BIOFIN’s financial contributions have played a key role in contributing to bridge the biodiversity finance gap, addressing critical funding shortages that hinder conservation and sustainable development efforts. The initiative has strengthened financial flows towards biodiversity-related projects and created pathways for long-term, sustainable investments in nature.

The initiative’s global results are marked by measurable financial impacts, including increased investments in protected areas, biodiversity restoration projects, and sustainable economic activities that benefit both ecosystems and communities. These financial efforts have also facilitated improved tracking, reporting, and accountability of biodiversity expenditures across multiple stakeholders.

By scaling financial commitments and catalyzing additional investments, BIOFIN has contributed significantly to advancing global biodiversity financing goals, aligning with international frameworks such as the Kunming-Montreal Global Biodiversity Framework.

This financial mobilization demonstrates the effectiveness of targeted biodiversity finance approaches in generating tangible outcomes, reinforcing BIOFIN’s position as a key global driver in biodiversity-related financial resource mobilization.

BIOFIN is managed by the UNDP and receives financial support from a range of donors, including the European Commission and the governments of Germany, Switzerland, Norway, Belgium, Flanders, the United Kingdom, Canada, and France. In 2024, BIOFIN received the support of the GEF for the implementation of the methodology in 91 new countries.

At the national level, BIOFIN collaborates with governments, international organizations, the private sector, civil society, vulnerable communities, and stakeholders from the financial sector to implement tailored biodiversity finance solutions.^[48] These partnerships aim to address the unique challenges faced by each country while fostering sustainable development.

Globally, BIOFIN works with a diverse array of partners to amplify its impact. Key global collaborators include the Secretariat of the Convention on Biological Diversity (CBD), BESNet, the Organisation for Economic Co-operation and Development (OECD), the United Nations Statistics Division (UNSD) along with the System of Environmental-Economic Accounting (SEEA), and the Global Environment Facility (GEF). Other notable partnerships include ValuES, WAVES, The Economics of Ecosystems and Biodiversity (TEEB), the Taskforce on Nature-related Financial Disclosures (TNFD), and the Biodiversity Credit Alliance. These partnerships strengthen BIOFIN’s efforts to mobilize resources and promote biodiversity finance solutions at a global scale.

• Sustainable Development Goal 14: Life Below Water
• Sustainable Development Goal 15: Life on Land
• The Convention of Biological Diversity
• The Global Biodiversity Framework