Biodiversity finance relates to a large universe of stakeholders, ranging from development banks, central banks, enterprises and ministries at the national level, to community and indigenous organizations operating in key biodiversity areas. Engaging these actors helps to: 1) build a shared understanding and vision among all these key stakeholders; 2) understand capacity gaps and respond accordingly; and 3) coordinate all related initiatives and lead technical debates. The BIOFIN Process builds on three primary engagement axes (Figure 2.6). The first axis connects environmental, finance ministries and other relevant public entities to improve institutional cooperation. The second engages the private sector to identify opportunities for investments with positive conservation benefits and the introduction of sustainable practices. The third axis is about empowering civil society and community organizations. International organizations, including conservation NGOs, development banks, the UN and others, are considered critical supporters. The following section discusses how to engage the stakeholders in the process. The Policy and Institutional Review in Chapter 3 provides more detailed guidance on scanning a country’s biodiversity institutional landscape.

Figure 2.6: The BIOFIN Partnerships Strategy at National Level