BIOFIN in Kazakhstan organises a resource mobilization workshop

ASTANA, 22 November 2016 – BIOFIN in Kazakhstan conducted a workshop on “Mobilization of financial resources for conservation of biodiversity in Kazakhstan”. 
 

The purpose of the Workshop was to discuss the different existing opportunities for new biodiversity finance solutions. This is an important step in the Biodiversity Finance Initiative (BIOFIN) project in order to later develop the Biodiversity Finance Plan and reduce the biodiversity finance gap to reach the national biodiversity targets.
 
The Workshop brought together representatives from various sectors, such as forestry, wildlife, water resources, fisheries and industry. During the Workshop experts discussed more than 80 finance solutions. The experts evaluated the pros and cons of each mechanisms and their possible outcomes if they would be implemented. In order to prioritize some of these finance solutions, they took into consideration the political and institutional situation of Kazakhstan.  
 
All participants agreed that the introduction of new financial and economic mechanisms is critical for the country and is necessary to reduce the biodiversity finance gap. In this context, mechanisms such as payments for ecosystem services, biodiversity offsets, positive subsidies, tax incentives, and eco-certification are different possible solutions that were highlighted for sustainable use of biodiversity and ecosystems in the country.
 
Currently, the BIOFIN project team is working on introduction of amendments in the legislation to start and implement new financial and economic mechanisms discussed during the Workshop.