Welcome to our latest newsletter!

This issue features our latest activities - from the official launch of BIOFIN in Morocco to Thailand's efforts to stop harmful subsidies and India's initiatives to improve biodiversity financing. Also, learn more about funding opportunities for nature projects and the possibility of joining our team.

BIOFIN helps to stop harmful subsidies in Thailand

BIOFIN’s analysis has shown that subsidies for rigid infrastructure projects in Thailand are causing significant damage, particularly to river and coastal ecosystems. Although these subsidies, totaling $6.28 billion from 2021 to 2023, were often justified as necessary for agricultural irrigation or promoting local tourism, they led to unintended environmental damage. For example, $8.4 million was spent on grey infrastructure at the historic Mrigadayavan Palace, which has exacerbated coastal erosion.

Following BIOFIN’s evidence-based recommendations, all investment in grey coastal infrastructure was halted. The Thai government allocated $285,714 to dismantle these harmful structures and stopped subsidizing such harmful projects. The story of Mrigadayavan Palace was featured on a Thai PBS television program. ➡️ Learn more>>

Official launch of Morocco BIOFIN

This month, Morocco officially launched BIOFIN. The initiative will focus on developing its national Biodiversity Finance Plan (BFP) as part of the Global Environment Facility (GEF) 8 program. During the launch meeting, the BIOFIN methodology was presented to government and civil society representatives. The methodology includes a Biodiversity Finance Policy and Institutional Review (PIR), a Financial Needs Assessment (FNA), a Biodiversity Finance Plan (BFP), and an Implementation Plan.

Last year, 91 additional countries joined the BIOFIN initiative as part of the GEF 8 BFP program, bringing the total number of participating countries to 133.

Protect baby yaks and preserve Bhutan’s biodiversity

In Bhutan, over 3,000 households depend on yak farming for their livelihoods. However, every year around 159 yaks are lost to predators such as wolves and snow leopards. Portable coral iron mesh fences have proven to be an effective solution to protect baby yaks from these predators. Unfortunately, many families cannot afford this lifesaving measure.

By providing portable coral grids to the most vulnerable households, we can help protect baby yaks from wild animal attacks and reduce retaliatory killings of snow leopards and other predators. Protecting yaks also means preserving Bhutan's unique biodiversity.

Donate to support the cause: ➡️go.undp.org/Jx5  

Innovative finance solutions to combat land degradation and biodiversity loss

Currently, 40% of the world’s land is degraded, affecting billions of people and having serious consequences for our climate and biodiversity. Degraded landscapes are the cause of biodiversity loss, water insecurity, migration and economic displacement. Addressing these challenges requires scalable investments, a mix of public and private financing, and a strong focus on community involvement.

Since 2018, UNDP BIOFIN has supported 41 countries to unlock more than US$1 billion for nature through innovative financial solutions - from crowdfunding to green bonds.

Discover how these solutions are tackling land degradation and biodiversity loss: ➡️ click here

BIOFIN's learning exchange in Thailand

Last December, BIOFIN coordinators from India, Indonesia, the Philippines, Malaysia, Sri Lanka, and Egypt met in Thailand for a learning exchange. They explored how removing or redirecting harmful subsidies can lead to positive results for nature and the economy. BIOFIN's research revealed the unintended long-term environmental and economic impacts of certain subsidies, particularly in agriculture and construction. This case emphasizes the important role of scientific research and evidence-based policy to ensure that subsidies are effective and consistent with conservation objectives.

Delegates also gained insights into Thailand’s experience with results-based budgeting for biodiversity through workshops, field visits, and focused dialogues with various public sector representatives.  ➡️ Learn more>>

India’s progress in biodiversity

India’s proactive approach to biodiversity funding is yielding tangible results. The Telangana government has increased its budget for the Telangana State Biodiversity Board sevenfold - from US$150,000 in 2023 to $1.2 million in 2024 - thanks to targeted advocacy, awareness-raising activities, and capacity building.

The increased budget will support biodiversity management committees in documenting flora and fauna, training government officials to integrate biodiversity into public policy, and protecting wetlands, including identifying potential Ramsar sites.

This allocation represents a 2% increase over the baseline and brings India closer to its target of spending 5% of the budget on biodiversity conservation. This achievement demonstrates India’s commitment to mainstreaming biodiversity into public policy and funding frameworks - an important step towards sustainable development.

OPPORTUNITIES

Thematic grant for nature projects from IKI

The International Climate Initiative (IKI) is now accepting applications for thematic grants in the following priority areas: mitigation of greenhouse gas emissions, adaptation to climate change, preserving and restoring natural carbon sinks, and conservation of biodiversity.

🗓  Apply by 18 February 2025: ➡️ here

🔗 Discover over 300 similar opportunities on the Finance Resources for Biodiversity (FIRE) website: ➡️ https://fire.biofin.org/

Follow the ➡️ FIRE LinkedIn page to stay up to date!

Join the BIOFIN Global Team!

We are hiring: Global Programme Management Advisor (Home-Based)

Do you have experience working on global or regional biodiversity financing projects? Are you experienced in developing knowledge-sharing materials, managing large teams, and reviewing technical products in the field of biodiversity finance? If so, we’d love to have you join our team!

 🗓 Application deadline: 12 February 2025

 🔗 Full details and application: ➡️here