|Overview : |
The BIOFIN is a global initiative launched in October 2012 by the United Nations Development Programme (UNDP) to respond to the needs for detailed national level analysis regarding biodiversity finance and boost the mobilization of financial resources for parties to the Convention on Biological Diversity (CBD) to achieve the Aichi Targets. It is a global partnership seeking to address the biodiversity finance challenge in a comprehensive manner by building a sound business case for increased investments in the management of ecosystems and biodiversity, with a focus on the needs and transformational opportunities at the national level. In Zambia the implementation of the Biodiversity Finance Initiative (BIOFIN) started in 2015 under the Climate Change and Natural Resources Management Department within the Ministry of Lands and Natural Resources to support Strategic Intervention #46 of the National Biodiversity Strategy and Action Plan (NBSAP-2) aimed at developing a comprehensive resource mobilization strategy for implementation of the NBSAP-2.
One of the key outputs of the BIOFIN initiative in Zambia is to develop a national biodiversity finance plan (BFP) aimed at identifying and prioritizing a mix of suitable biodiversity finance solutions to reduce the envisaged biodiversity finance gap. At the initial workshop which took place from the 26th to 27th April 2018 at Kafue Gorge Regional Training Centre in Kafue District, a total of 30 possible proposals were discussed which were later trimmed to 11. These 11 proposals were later reviewed and validated by stakeholders at a workshop that was convened from the 26th to 29th November 2018 at Ibis Gardens. From this workshop, 7 proposals were validated to form Zambia’s Biodiversity Finance Plan. Among these 7 proposals, two proposals have since been earmarked for BIOFIN Phase 2 Implementation. These relate to the mainstreaming of green finance into the public, private and financial sector notably through the development of a National Green Finance Policy (NGFP) for Zambia including the implementation Plan as well as reviewing and developing customized fiscal and non-fiscal incentives for biodiversity conservation projects.
The aim of this assignment is thus to provide technical advisory services to the BIOFIN Project Team in the implementation process of BIOFIN Phase 2. There are two main outcomes:
- Mainstreaming of Green finance into the public, private and financial sector
- Reforming fiscal and non-fiscal incentives towards eligible green projects