The BIOFIN Workbook 2024 provides detailed guidance to design and implement national biodiversity finance plans. These are not mere plans. They set out a process to engage a coalition of actors around the issue of biodiversity finance for an extended time. This is anchored in the finance sector including Ministries of Finance, Central Banks, regulators, and development banks. The capacity development of this core group of actors in every country is a centerpiece of the process.
Since BIOFIN's inception in 2012, national biodiversity finance plans (BFPs) have matured into a globally recognized vehicle to mobilize and realign finance flows for nature. Based on lessons learned in the first 41 countries to undertake the BIOFIN methodology, BIOFIN donors and the Global Environmental Facility (GEF) pledged support to design and implement BFPs in 132 participating countries under the ambitious 2030 goals of the GBF.
The first cohort of BIOFIN countries implementing their biodiversity finance plans achieved considerable results. This includes a US$ 86 million budget increase for protected areas in the Philippines and US$ 70 million in Kazakhstan, US$ 108 million green credits in Ecuador, allocations of US$ 120 million through Ecological Fiscal Transfers in Malaysia, and the issuance of the first-ever green bond in Zambia valued at US$ 200 million. Botswana increased the revenue from their protected areas by US$ 3.6 million per year, Mongolian local governments realized a revenue increase of over US$ 10 million per year and Seychelles created the first-ever biodiversity finance unit to institutionalize the BIOFIN Process.
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