29 May 2024, Colombo, Sri Lanka – The National Sustainable Tourism Certification Scheme is an important initiative to recognize and promote destinations that are committed to environmental, social and economic sustainability in Sri Lanka. Launched in 2018, the scheme is in line with the Global Susta...Read more
Finance Solutions
Photo: UNDP Kazakhstan. East Kazakhstan region, Belukha Mountain range.
When the BIOFIN process began in Kazakhstan about ten years ago, it was realized that funding for protected areas was limited. The government wanted to change this with the support of UNDP-BIOFIN. Initially, a clause was included in the 2017 law on protected areas. This clause states that the manage...Read more
Biodiversity is under acute threat in Mongolia, a country with vast landscapes and diverse ecosystems harboring unique flora and fauna.
The UNDP Biodiversity Finance Initiative (BIOFIN) has supported Mongolia in improving the effectiveness of a law on natural resource user fees. This led to an increase in the budget for environmental protection including biodiversity conservation. In 2023, revenues from the Natural Resource Use Paym...Read more
In 2022, the South African Government, with the support of the UNDP-Biodiversity Finance Initiative (UNDP-BIOFIN), launched the first Biodiversity Investment Portal to match investors with bankable projects to support the growth of the biodiversity economy in South Africa. Recently, the portal succe...Read more
The approval of the Payment for Environmental Services (PES) for the removal of sustainable forest carbon sets a precedent for Cuba's participation in the carbon bond market, a financing mechanism used in various countries to support environmental policies. As a further step towards protecting Cuba'...Read more