Locations
The Biodiversity Finance Initiative - Phase II (BIOFIN Namibia)
The Biodiversity Finance Initiative (BIOFIN) is a UNDP managed global initiative launched in 2012 at the Convention on Biological Diversity (CBD) COP 11 by UNDP and the European Commission to transform biodiversity financing. Aligned with the Global Biodiversity Framework (GBF) and key national and international strategies, BIOFIN operates in 132 countries, including Namibia, to address the biodiversity finance gap and promote sustainable development. Headquartered in Istanbul, the initiative spans across Africa, Asia-Pacific, the Arab States, Europe, and Latin America, driving global change in biodiversity financing.
The Biodiversity Finance Initiative (BIOFIN) in Namibia supports the country in identifying and mobilizing resources to finance its biodiversity and sustainable development goals. It is part of a global UNDP-supported effort aimed at closing the biodiversity finance gap.
Key Objectives:
To measure existing biodiversity expenditure.
To assess future financial needs to meet national biodiversity targets.
To develop a Biodiversity Finance Plan with viable financing solutions.
Upcoming activity
Strategic Importance:
Namibia is a biodiversity-rich country, and the conservation of its natural resources is critical for livelihoods, food security, climate resilience, and economic sustainability.
Progress and Achievements:
BIOFIN handbook has been revised and is published at the UNCBD COP16
A Biodiversity Expenditure Review (BER) will be conducted to analyze public and private sector biodiversity spending.
A Financial Needs Assessment (FNA) will be developed to estimate the funding required to meet national biodiversity goals.
A Biodiversity Finance Plan (BFP) will be developed with concrete financing solutions.
Key Biodiversity Finance Solutions Identified:
Environmental Fiscal Reform – Improving efficiency and equity in the use of fiscal instruments.
Mainstreaming biodiversity into national and sectoral budgets – Ensuring biodiversity priorities are reflected in public finance decisions.
Public-private partnerships (PPPs) – Leveraging private sector investment for biodiversity-friendly initiatives.
Improved management of existing funding sources – Maximizing effectiveness and coordination.
Innovative finance mechanisms – Exploring new tools such as biodiversity offsets and green bonds.
Gender and Social Inclusion:
BIOFIN Namibia integrates gender equality and social inclusion into biodiversity financing by ensuring participation and benefits for women, youth, and marginalized groups.
