Coral Coast, Fiji – The global biodiversity financing gap is estimated at an alarming US$700 billion annually, according to the recent Little Book on Investing in Nature. Meeting the ambitious targets of the Kunming-Montreal Global Biodiversity Framework (GBF) will require countries to mobilise additional resources, improve efficiency, and eliminate financial flows that harm biodiversity. This challenge calls for transformative change across economies and societies.

In Fiji, the Biodiversity Finance Initiative II (BIOFIN) is spearheading efforts to close this gap through innovative and sustainable financing solutions. Two cornerstone reports – the Policy and Institutional Review (PIR) and the Biodiversity Expenditure Review (BER) – were first developed in 2017, offering critical insights into Fiji’s fiscal, policy, and institutional frameworks, as well as biodiversity-related expenditures and financing gaps. However, with global priorities evolving and national realities shifting, these reports require updating to ensure they remain relevant and actionable.

To address this, UNDP and the Ministry of Environment and Climate Change have joined forces to review and revise the PIR and BER. This collaborative effort aims to integrate updated recommendations into Fiji’s National Biodiversity Strategy and Action Plan (NBSAP), align with the GBF, and contribute to the achievement of the Sustainable Development Goals (SDGs). 

The updated reports will provide a foundation for developing a comprehensive Biodiversity Finance Plan (BFP), which is mandated under Target 19 of the GBF. These plans will identify national biodiversity finance gaps, propose strategies to reduce harmful financial flows, and outline solutions to generate additional resources while improving efficiency.

A BIOFIN workshop, taking place from 12 to 16 January 2026, convened with key stakeholders to endorse the revised PIR and BER, provide feedback, and agree on next steps for government approval and implementation. The workshop will serve as a consultative platform, fostering dialogue and collaboration among stakeholders to ensure that recommendations are aligned with national priorities and global commitments. It will also pave the way for the next phase of work, including the Finance Needs Assessment (FNA) and the development of Fiji’s Biodiversity Finance Plan.