Together with Government of India and the Biodiversity Finance Initiative – BIOFIN member countries, government representatives, members of the private sector, experts and academics will gather for the 3rd Global BIOFIN Conference, in Chennai, India, from 6 - 8 March 2018.
BIOFIN was developed to provide a comprehensive methodology for governments in participating countries to review the existing policy contexts, measure expenditure levels for biodiversity, calculate future financial needs, and design strategic plans to deploy the right mix of finance solutions, tailored to the country context.
Lessons from the first phase of BIOFIN implementation has generated insights into the underlying barriers to advancing biodiversity finance. These include the benefits of:
- Improved understanding and integration of the real value of biodiversity and ecosystem goods and services (and the real costs of losing them) into markets and governmental fiscal and development planning systems;
- Reforming and greening incentives and subsidies that encourage biodiversity-harmful activities;
- Improved coordination and a shared language among finance ministries and line ministries implementing biodiversity management;
- Enhancing capacity related to biodiversity finance and economics;
- Identifying and supporting revenue streams from biodiversity-positive actions that could generate increased private sector investment; and
- Expanding the range of finance solutions to better value, capture, and effectively spend financing for nature.
Biodiversity finance is fundamental to sustainable development including poverty reduction and tackling climate change. Biodiversity hotspots strongly overlap with areas where indigenous communities reside, and are often characterised by high poverty rates, with local communities being strongly dependent on direct use of natural resources. Well financed Sustainable biodiversity management serves these communities and assures key services for the future economy and wellbeing.
BIOFIN is operating directly in 30 countries, with several others utilising parts of the BIOFIN methodology. Many countries have reached the stage of implementing finance solutions after successful completion of the three key BIOFIN assessments and the Biodiversity Finance Plan.
The conference will facilitate experience sharing and technical discussions among countries, create a platform for lively discussions about results from BIOFIN implementation to inform global audiences and future initiative, and explore opportunities for biodiversity finance solutions and investments in BIOFIN countries and the regions.
The conference is organised into four streams:
- Public sector implementation
- Private Sector
- Analysing Solutions
- Lessons from implementing the BIOFIN Methodology.
CALL FOR PAPERS
New at the 3rd Global Workshop, BIOFIN invites contributed research papers for presentation in the “Research Track” of the Conference. Find out more here.