LocationsSuriname hosts workshop to boost Biodiversity Finance awareness
July 30, 2025
Director Ritesh Sardjoe of the ministry of Oil, Gas and environmental during his opening remarks at the BIOFIN workshop
A pivotal workshop titled “Wealth of Nature: Economics and Policy for Nature-Based Solutions to Bridging the Biodiversity Finance Gap” was held yesterday, 29 July 2025, in Suriname. The workshop was organized in collaboration with the Ministry of Oil, Gas, and Environmental and the Masters in Sustainable Management of Natural Resources Programme. The event aimed to raise awareness about the Biodiversity Finance Initiative (BIOFIN), a global program supported by the United Nations Development Programme (UNDP) and the Global Environment Facility (GEF).
In his opening remarks, Ritesh Sardjoe, Director of the Directorate of Environment at the Ministry of Oil, Gas, and Environment, emphasized the importance of valuing nature. He stated that the workshop is about helping people understand that the wealth of nations is rooted in its nature. By managing natural resources wisely, better decisions can be made for both current and future generations.
The workshop focused on raising awareness about biodiversity finance and policy, sharing insights from the BIOFIN methodology, which is now active in 133 countries. It also explored how Suriname can incorporate nature-based solutions into its development strategy through the GEF-8 Biodiversity Finance Plan project. With Suriname now part of the GEF-8 BIOFIN project, the country is well-positioned to take meaningful steps toward integrating biodiversity into its national development agenda, paving the way for a greener and more resilient future.
Andrew Seidl, Senior Technical Advisor to the UNDP BIOFIN Global Team
Andrew Seidl, Senior Technical Advisor to the UNDP BIOFIN Global Team, highlighted key challenges such as the lack of granular, accessible data, which is essential for effective planning and implementation. He also noted to the participants from Ministries, academia and NGO, that political transitions and institutional restructuring can disrupt continuity in biodiversity finance efforts. Despite these hurdles, the BIOFIN initiative has made significant global progress. Since its inception at COP 11 in 2012, it has helped 41 countries account for over $1 billion in biodiversity finance, using tools such as ecological fiscal transfers, green bonds, SME credits for green investments, and protected area fees.
UNDP Consultant Ephrat Yovel
UNDP Consultant Ephrat Yovel also addressed the audience, speaking about biodiversity and biodiversity finance as powerful levers for economic growth. Her remarks reinforced the message that investing in nature is not only an environmental imperative but also a smart economic strategy.