|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. 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. Two proposals were chosen for 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.