Project Summary:

The Umbrella Programme to support Development Biodiversity Finance Plan is an enabling activity that directly supports the implementation of the new biodiversity targets under the new Global Biodiversity Framework (GBF), specifically it will focus on providing support to countries in developing: a) a national biodiversity finance policy and institutional review; b) an expenditure review to assesses spending related to biodiversity across all relevant sectors; c) an assessment of financial needs required to achieve the targets of the GBF; and, d) a National Biodiversity Finance Plan. This is underpinned by a transformational process to develop a shared vision and action agenda on financing nature in the country, closely involving the finance sector.

Objectives:

• National biodiversity-related policy and institutional framework analyses are completed, including recommendations to optimise the current institutional structure and finance solutions; 
• Harmful and positive subsidies and incentives to biodiversity are identified;
• National expenditure related to biodiversity across all relevant sectors is quantified with current and future trends;
• Financial needs for achieving the Global Biodiversity Framework targets at national level are fully costed; 
• National biodiversity finance plan is developed and validated by stakeholders.
   

Expected results:

• Intersectoral National Steering Committee for biodiversity finance with a lead role for Ministries of Finance and Environment established; 
• National biodiversity policies, laws, and programmes of relevant public and private organisations analysed;
• Direct, indirect, and underlying trends and drivers of biodiversity change, including levers of change identified; 
• Current biodiversity-related finance and economic mechanisms mapped, with nature positive and harmful subsidies and incentive assessed;
• National synthesis report on biodiversity-related policy and institutional framework, with recommendations to optimise the current institutional structure and identified finance solutions drafted and shared with stakeholders;
• Synthesis report on national biodiversity expenditures that helps policymakers and other stakeholders understand current and future trends in biodiversity expenditures;
• National policies, laws, programmes and GBF targets that define national biodiversity needs fully costed;
• Unmet financial needs required to achieve national biodiversity targets and objectives estimated;
• Comprehensive proposal of finance solutions, including actions to enhance existing finance flows, drafted and reviewed through a national stakeholder consultation;      
• Finance solutions prioritized and used to develop technical proposals and a national biodiversity finance plan, validated by stakeholders.