Ghana launches BIOFIN to mobilize resource for biodiversity conservation

15 April 2025 – Accra, Ghana - Ghana has officially joined the global Biodiversity Finance Initiative (BIOFIN), launching a new partnership with the United Nations Development Programme (UNDP) to develop the country’s first National Biodiversity Finance Plan. Supported by the Global Environment Facility (GEF), this strategic initiative aims to close the global biodiversity finance gap - currently estimated at over US$700 billion per year - by designing innovative, sustainable financing solutions tailored to Ghana’s context.

The launch event brought together government representatives, development partners, civil society, and private sector stakeholders, reaffirming Ghana’s commitment to integrating biodiversity into national policy, budgeting, and planning processes.

Dr. Peter Derry, Chief Director of the Ministry of Environment, Science, Technology, and Innovation, underscored the urgency of reversing biodiversity loss, highlighting the country’s growing environmental challenges. “In 2024, we witnessed how environmental negligence can harm our economy and communities. Ghana is now advancing a new National Biodiversity Strategy and Action Plan and moving toward long-term solutions,” he said. “We’ve already submitted our national biodiversity targets to the Convention on Biological Diversity and are conducting inclusive consultations across the country to ensure every voice counts.”

Photo: Dr. Peter Derry, Chief Director of the Ministry of Environment, Science, Technology and Innovation

BIOFIN will support Ghana in aligning its biodiversity ambitions with the Kunming-Montreal Global Biodiversity Framework, particularly Target 19, which calls on countries to mobilize $200 billion annually through national biodiversity finance plans and innovative financing mechanisms.

Fati Attahiru, Acting Deputy Resident Representative of UNDP Ghana, emphasized the transformative potential of the partnership. “BIOFIN will help identify sustainable financing pathways that protect Ghana’s ecosystems while contributing to the Sustainable Development Goals,” she said. “The National Biodiversity Finance Plan will unlock new sources of funding and realign existing public and private financial flows.”

Photo: Fati Attahiru, Acting Deputy Resident Representative of UNDP Ghana

The Ghana BIOFIN programme will begin with a series of in-depth assessments - analyzing biodiversity expenditures, financing needs, and policy and institutional frameworks - leading to a finance plan that outlines practical finance solutions. By crafting a National Biodiversity Finance Plan (BioFin), the initiative will identify innovative funding solutions and integrate biodiversity considerations into national budgeting and economic planning.

Ghana is one of the 92 countries that joined BIOFIN in 2024 under the GEF8 Umbrella programme.