Bangladesh Launches Umbrella Programme to Support Development of Biodiversity Finance Plans

Strategic Insights -

Bangladesh has taken a significant step towards sustainable financing for biodiversity conservation with the launch of the 'Umbrella Programme to Support Development of Biodiversity Finance Plans'. This 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). The programme aims to develop innovative finance solutions for nature, mobilise resources for biodiversity protection, and achieve sustainable development in line with Bangladesh's obligations under the UN Convention on Biological Diversity.

Key Takeaways:

  • The 'Umbrella Programme to Support Development of Biodiversity Finance Plans' is a key initiative 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).
  • The programme aims to develop innovative finance solutions for nature, mobilise resources for biodiversity protection, and achieve sustainable development in line with Bangladesh's obligations under the UN Convention on Biological Diversity.
  • Dr. Farhina Ahmed, Secretary of MoEFCC, emphasised the urgency of integrated environmental governance and the importance of closing financing gaps for achieving sustainable development.
  • Resident Representative of UNDP Bangladesh Sonali Dayaratne reaffirmed UNDP's partnership and highlighted the importance of investing in biodiversity for food and water security, climate resilience, and human well-being.
  • The programme aims to establish a National Biodiversity Trust Fund, incorporating biodiversity budget tagging, eco-tourism revenue sharing, and payments for ecosystem services.
  • The event featured high-level interventions from MoEFCC officials, interactive sessions on the best global practices, and discussions on financing solutions aligned with the National Biodiversity Strategy and Action Plan (NBSAP), National Biodiversity Target and the Global Biodiversity Framework.
  • Virtually 130 countries participate in BIOFIN, who works on innovative and innovative finance solutions for nature conservation.

Statistics:

  • The Biodiversity Finance Initiative (BIOFIN) is a global partnership involving over 130 countries.
  • The 'Umbrella Programme to Support Development of Biodiversity Finance Plans' aims to develop innovative finance solutions for nature conservation.
  • Bangladesh has committed to mobilising resources for biodiversity protection in line with its obligations under the UN Convention on Biological Diversity.

Sources:

  • 'Umbrella Programme to Support Development of Biodiversity Finance Plans' official government document.
  • United Nations Development Programme (UNDP) press release on the Biodiversity Finance Initiative (BIOFIN).
  • Department of Environment (DoE) and Ministry of Environment, Forest and Climate Change (MoEFCC) joint statement.