As the 16th meeting of the Conference of the Parties (COP) to the Convention on Biological Diversity (CBD COP16) has concluded in Cali, Colombia, the world has taken stock of progress since the adoption of the Kunming-Montreal Global Biodiversity Framework (KM GBF) and, more critically, exploring the pathways to achieve these ambitious goals. A key challenge that remains is how to prioritize biodiversity financing.

In Kazakhstan, UNDP is leveraging the tools and strategies developed by our global teams—proven effective in diverse contexts around the world—to ensure that financing for biodiversity becomes a top priority.

The world's ecosystem services are valued at around US$125 trillion annually, comparable to the global economy[1]. In 2017, UNDP's recommendations were reflected in Kazakhstan’s Forest Code incorporating ‘forest ecosystem services’. This now allows the private sector to make donations and voluntary contributions to support forest conservation and participate in funding the restoration of protected areas. These changes significantly expand the financing possibilities for biodiversity and ecosystem protection.  In 2021, a new Environmental Code of Kazakhstan included a chapter on biodiversity conservation and introduced voluntary payments for ecosystem services and biodiversity offsetting mechanism that sets the principle of preventing, minimizing, mitigating, and compensating for biodiversity loss—designed to address potential impacts of the industrial and infrastructural projects at the planning stage. Additionally, the new Code includes principles for developing eco-tourism in national parks, such as regulating tourist numbers, promoting eco-friendly transport, preventing biodiversity harm, informing visitors, reducing waste, and involving local communities to benefit from tourism.

The Millennium Ecosystem Assessment highlights the misconception that development and the sustainable management of ecosystems and biodiversity are incompatible. In reality, we must demonstrate that both can and should coexist, as they are essential for ensuring long-term human and environmental well-being.

UNDP’s BIOFIN Initiative has developed a comprehensive methodology that offers diagnostic tools, such as the Biodiversity Expenditure Review. This review uses detailed data from public, private, and civil society budgets, allocations, and expenditures to inform and enhance biodiversity policies, financing strategies, and outcomes. We are currently working on a biodiversity financing plan, informed by a financial needs assessment, which will result in a resource mobilization strategy for biodiversity conservation in Kazakhstan.

The world’s financial rivers are vast and full and the challenge isn't the lack of water, but rather the direction in which these rivers run. To bridge the gap, we need to redirect these streams towards nourishing biodiversity. It’s not just about public funds; we must also guide the powerful currents of private capital toward the shores of the sustainable development. 

This summer, we initiated a comprehensive Readiness Assessment on Nature-Related Financial Disclosures in Kazakhstan. This assessment aims to evaluate the preparedness of the government, regulatory bodies, financial institutions and private sector to integrate biodiversity considerations into their risk management and opportunity frameworks. The findings will provide a clear understanding of how equipped these key sectors are to reflect the financial implications of biodiversity on their policies, operations and value chains, paving the way for more informed and sustainable decision-making in the future.

Another avenue to unlock financing for biodiversity is through carbon markets, particularly under the mechanisms outlined in Article 6 of the Paris Agreement. UNDP is working to create a favorable environment for attracting investments into the conservation of key ecosystems, such as forests. Though they cover only 5% of the country's territory, these forests are critical habitats for the most valuable and rare animal species, as well as 90% of the higher plant species found in the country. 

We remain committed to ensuring that Kazakhstan’s remarkable biodiversity is fully appreciated and valued. Our focus is on making each investment a stepping stone, fostering broader impact and sustainable change, while paving the way for continued progress in conserving the country’s natural heritage.