Biodiversity finance initiative launched to mobilise finance for nature
Bangladesh has officially launched the "Umbrella Programme to Support Development of Biodiversity Finance Plans", marking a significant step toward sustainable financing for biodiversity conservation.
The initiative is part of the Biodiversity Finance Initiative (BIOFIN)—a global partnership led by the United Nations Development Programme (UNDP) and supported by the Global Environment Facility (GEF)—which collaborates with over 130 countries to develop innovative finance solutions for nature conservation.
The launch event, held at the Department of Environment (DoE) and co-organised by the Ministry of Environment, Forests and Climate Change (MoEFCC) and UNDP, underscored Bangladesh's commitment to mobilising resources for biodiversity protection in line with its obligations under the UN Convention on Biological Diversity.
Keep updated, follow The Business Standard's Google news channel
Dr. Farhina Ahmed, Secretary of MoEFCC, emphasised the urgency of integrated environmental governance. "This initiative provides a crucial platform to close financing gaps and achieve sustainable development for both people and planet," she stated.
Sonali Dayaratne, Resident Representative (a.i.), UNDP Bangladesh, reaffirmed UNDP's partnership, noting, "Ecosystems are foundational economic assets. Investing in biodiversity means investing in food and water security, climate resilience, and human well-being."
In his keynote, Arif M Faisal, UNDP Programme Specialist, highlighted the current status of biodiversity finance, existing financing gaps in Bangladesh and proposed the establishment of a National Biodiversity Trust Fund, incorporating biodiversity budget tagging, eco-tourism revenue sharing, and payments for ecosystem services.
Chairing the event, Dr Kamruzzaman, ndc, Director General of DoE, hailed the launch as "a milestone," calling for collaborative action to enhance resilience and protect biodiversity through innovative financing.
The event also featured high-level interventions from MoEFCC officials, interactive sessions on best global practices, and discussions on financing solutions aligned with the National Biodiversity Strategy and Action Plan (NBSAP), the National Biodiversity Target, and the Global Biodiversity Framework. Annabelle C. Trinidad, Senior Technical Advisor of BIOFIN, discussed the global perspective of the BIOFIN programme and various innovative instruments used for nature conservation.
The launch brought together representatives from government, civil society, academia, the private sector, and development partners—united by a shared goal: to make nature-positive development a reality through sustainable finance.
