step 6.7 write and validate the biodiversity finance plan - Biofin

Step 6.7: Write and validate the Biodiversity Finance Plan

The final step is drafting, validating, and communicating the Finance Plan. The Plan is BIOFIN’s final product, requiring the highest level of partners’ engagement in its preparation, validation and endorsement. The Plan should be seen as a formal policy document owned by government, preferably adopted through a government order issued by the Ministry of Finance. Formal endorsement, if possible, may require the pursuit of lengthy national approval processes, the timing of which should be planned in advance. Care should be taken that the approval process does not block the implementation of priority actions and the piloting of certain finance solutions. Finalizing the Plan also entails a transfer of implementation responsibilities from the BIOFIN national team (if separate from government) to a permanent body or branch of government.

The Plan’s format is adapted to the country context. The outline below provides indicative guidance on the structure of the report.

The outline of the Biodiversity Finance Plan:

1. Executive Summary

Vision for Biodiversity Finance
Investment case for the Plan
Summary of finance solutions mix and expected impacts
One paragraph on each finance solution with the following points:
1. Background/Justification for the solution
2. Opportunity – why is this needed now?
3. Finance Solution – be as specific as possible
4. Expected Impact (can include the ROI)
5. Key Implementation Steps
Implementation expectations

2. Vision and Investment Case

Frame a vision for biodiversity in the country – why is it important globally and nationally?
Explain how the Plan is linked to the country’s priorities and national strategies, i.e. NBSAP, green growth, climate change, SDGs, etc.
Present the investment case for the Plan as a whole:
1. Why invest in biodiversity
2. Highlight the Plan’s contribution to the country, the economy, people, and nature.

3. Goals and targets

Introduce prioritized finance solutions.
Summarize the Plan’s intentions and goals.
Describe the Plan’s specific targets including the resource mobilization targets based on the costing and expenditure review.
Review the appropriateness of the mix of solutions

4. Finance Solutions.This section is the core of the Plan

Describe each priority finance solution (2-5 pages each) with the following subsections:
1. One paragraph explaining the solution (See Executive Summary note)
2. Context for the solution
3. Objectives of the finance solution
4. Expected financial results and investment case
5. Next steps and key actors including a table with milestones
Describe the role of the different actors and the Plan’s governance and implementation.

5. Summary Action Plan

Group actions in the detailed action plan in order to offer a landscape view of the Plan’s components.
Include an indicative budget and estimation of overall financial return on investment.

6. Annexes (optional – as needed)

Detailed feasibility study or technical proposals if conducted for each finance solution
Detailed overall action plan and budget
1. Provide a detailed description of the actions contained in the Plan, including responsibilities and time-frame. For each action, describe the responsible organization and any necessary institutional changes/capacity development required to formally take up this mandate.
2. Present the budget required to implement the Plan. Indicate existing resources and gaps.
Resource mobilization strategy for the implementation of the Plan
1. If the Plan itself requires significant financing or if there are major gaps in funding, a short resource mobilization strategy is required. Its implementation will be one of the Plan’s first steps.
Summary of the BIOFIN Process
1. Describe the process that led to the drafting and validation of the Plan, the stakeholders and sources of evidence that gave inputs, and summarize the main findings of the BIOFIN assessments.

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