The Biodiversity Finance Initiative: An Approach to Identify and Implement Biodiversity-Centered Finance Solutions for Sustainable Development

  • Marco Arlaud
  • Tracey Cumming
  • Ian Dickie
  • Marlon Flores
  • Onno van den Heuvel
  • David Meyers
  • Massimiliano Riva
  • Andrew Seidl
  • Annabelle Trinidad
Chapter
Part of the World Sustainability Series book series (WSUSE)

Abstract

Global biodiversity finance needs are on the order of $150 to $440 billion per year. The Biodiversity Finance Initiative—BIOFIN (www.biodiversityfinance.net)—is a global partnership addressing the biodiversity finance challenge in a comprehensive manner in order to identify and implement biodiversity-centered sustainable economic development solutions. BIOFIN provides an innovative accounting and finance approach, enabling countries to measure their current biodiversity expenditures, assess their financial needs and identify the most suitable finance solutions to achieve their stated national biodiversity targets and green, bio-based, sustainable economic development goals. The BIOFIN approach currently is piloted in 31 countries worldwide, including ten of the 17 most biodiverse countries in the world BIOFIN works primarily in support of strengthening the national biodiversity finance framework and closing the national finance gap for the conservation and sustainable use of biodiversity. This chapter reviews the BIOFIN approach, including motivations and the business case for biodiversity investment, our theory of change, highlights some early country results, and the way forward for mainstreaming biodiversity into national policy and decision making and private sector engagement toward sustainable economic development goals.

Notes

Acknowledgements

The authors would like to thank the following individuals for their contributions to the 2016 Workbook from which this chapter was derived: Lucia Motaung, Blerina Gjeka, Oscar Huertas, Csoban Somodi, Semiray Emeksiz, Georgina Wilde, Alessandra Alfieri, Herve Barois, Bertrand Rassool, Mariana Bellot, Juan Bester, A. Damodaran, Gail Hurley, Helen Ding, Devika Iyer, Bruno Mweemba, Amath Pathe Sene, Carlos Manuel Rodriguez, Ainur Shalakhanova, Anton Steurer, Monika Wozowczyk, Guillermo Zuniga, Jamie Ervin, Usman Iftikhar, Nik Sekhran, Yves de Soye, Caroline Petersen, Adriana Dinu, Midori Paxton, James Maiden, and Ray Victurine. In addition, we would like to thank our partners for their support: The European Union, the Governments of Germany, Switzerland, Norway and Flanders. The governments, partners, and consultants from the 30 BIOFIN countries also contributed ideas and insights into this approach. All errors remain the responsibility of the authors.

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Copyright information

© Springer International Publishing AG 2018

Authors and Affiliations

  • Marco Arlaud
    • 1
  • Tracey Cumming
    • 1
  • Ian Dickie
    • 2
  • Marlon Flores
    • 1
  • Onno van den Heuvel
    • 1
  • David Meyers
    • 1
  • Massimiliano Riva
    • 1
  • Andrew Seidl
    • 1
    • 3
  • Annabelle Trinidad
    • 1
  1. 1.Biodiversity Finance InitiativeUnited Nations Development ProgrammeNew YorkUSA
  2. 2.Eftec (Economics for the Environment Consultancy) Ltd.LondonUK
  3. 3.Department of Agricultural and Resource EconomicsColorado State UniversityFort CollinsUSA

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