On 30 September, a national workshop was held under the United Nations Development Programme (UNDP) Biodiversity Finance Initiative (BIOFIN). It presented the findings of several completed assessments, including an analysis of public expenditure supporting biodiversity conservation in Armenia from 2021 to 2025, an assessment of the impacts of subsidies implemented in Armenia, and a financial needs assessment for implementing Armenia’s biodiversity conservation targets and the 2026–2030 Action Plan.

The workshop brought together more than 60 representatives and independent experts from the Ministries of Environment, Finance, Territorial Administration and Infrastructure, and Economy; the Central Bank of Armenia; the Statistical Committee; Yerevan Municipality; inspectorate bodies; the Environmental Patrol Service; other relevant public institutions; universities; commercial banks; and civil society organizations working on biodiversity conservation.

In his opening remarks, Deputy Minister of Environment Aram Meymaryan highlighted the value of convening a multi-stakeholder workshop in the lead-up to COP17. He noted that the assessments had been developed through sustained technical dialogue and collaboration, and that their revisions reflected the Ministry’s observations and recommendations.

Artak Manukyan, Member of the Board of the Central Bank of Armenia, emphasized that delivering Armenia’s national biodiversity targets requires resource mobilization, practical finance solutions, and greater efficiency in existing expenditure. He also stressed the importance of developing a strong evidence base and data repositories, as well as fostering public dialogue and awareness.

Konstantin Sokulskiy, UNDP Deputy Resident Representative in Armenia, noted that through BIOFIN, UNDP supports 138 countries in modernizing their national biodiversity finance policies. He said that the assessments undertaken in Armenia will provide the foundation for the country’s Biodiversity Finance Plan.

"Nature does not send an invoice, yet the price of its exploitation is always paid—at the expense of the flora, fauna, water and air quality, human health and prosperity and future opportunities” said Artak Voskanyan, BIOFIN Project Coordinator. “It is our responsibility to incorporate that value into state and investment decisions in a timely manner."

The expenditure review shows that biodiversity-related public finance increased from USD 31.2 million in 2021 to approximately USD 94 million budgeted for 2025. This trend reflects growing public attention while also underlining the need to improve the visibility, cost-effectiveness and accountability of financial flows. To this end, UNDP, with the support of the Government of Norway, has begun developing a methodology and digital tool for Biodiversity Budget Tagging. This will help make biodiversity-related expenditure more visible and better align it with biodiversity objectives.

Additional financial incentives and mechanisms are needed to deliver Armenia’s strategic biodiversity targets, attract private investment and strengthen public understanding of biodiversity conservation. Private-sector engagement remains limited and is largely associated with environmental compliance, pollution control and waste-management obligations.

The subsidies analysis reviewed 24 state-support programmes and found that systematic criteria for assessing their impacts on biodiversity are not yet applied at the design stage. This means that some public-support programmes may pose significant risks to natural habitats, soils, water resources and pollinators, while additional public resources may later be required to prevent or mitigate these impacts.

The preliminary financial needs assessment indicates that approximately AMD 348.2 billion will be required to implement the biodiversity targets and Action Plan for 2026–2030, while around 93 percent of estimated needs will require additional financing pathways.

Existing public resources largely finance the core functions of public institutions, protected-area management, monitoring and forestry. The financing gap reflects a broader and more substantial agenda of ecosystem restoration, afforestation and infrastructure investment.

The panel discussion focused on the role of Armenia’s Biodiversity Finance Plan (BFP), which will translate the findings of the assessments into priority and feasible finance solutions, with clearly assigned responsible institutions, legal and institutional pathways, phased implementation, and measurable results.

Eric Grigoryan, Head of the consulting organization developing the Plan, noted that the BFP is intended to serve as a practical framework that transforms assessments of policies, public expenditure, subsidies and financial needs into shared decisions and actions to support the implementation of all 30 targets of Armenia’s National Biodiversity Strategy and Action Plan.

A feasible package of at least 12 priority finance solutions is expected to be developed, taking into account their potential impact, practical applicability, social and environmental risks, and compatibility with Armenia’s legal and institutional context. For each solution, the BFP will specify potential financing volumes and sources, responsible institutions, required legal provisions, sequencing, and measurable results—thereby outlining a roadmap for biodiversity finance implementation.