Mobilising resources from all sources
The world needs USD 824 billion every year to sustain biodiversity. However, it currently spends only USD 143 billion on biodiversity conservation which is a little over 0.1 per cent of the total global GDP. Around USD 700 billion is needed to sustain biodiversity initiatives globally.¹
The Global Environment Facility (GEF) serves as the financial mechanism of the CBD. AMS have continuously accessed the GEF to support biodiversity initiatives in protected area management and mainstreaming biodiversity into landscapes and seascapes. However, biodiversity financing must be increased and expanded to sustain biodiversity.
With the year 2020 deadline already gone past, it is vital to have a thorough review of the status and initiatives to achieve Aichi Target 20 and determine the actions and required funding to implement the NBSAPs moving forward, pursuant to the post-2020 global biodiversity framework. In their Fourth National Reports, AMS indicated limited capacity, both human and financial, as hampering the implementation of the NBSAPs.
The recognition of the importance of biodiversity conservation has prompted better financial
allocations for local and national activities of AMS. Although effective funding mechanisms
have yet to be fully and constantly integrated into national plans and programmes and figure
prominently in their NBSAPs.
The implementation of the global Biodiversity Finance Initiative (BIOFIN) established a
structure to support the conservation activities of six AMS, specifically Cambodia, Indonesia,
Malaysia, the Philippines, Thailand, and Viet Nam. BIOFIN countries apply the BIOFIN
Workbook to ensure that policies, biodiversity expenditures, financial requirements, and the
budgeting systems of governments, private sector, NGOs, and other entities are reviewed and
aligned to support the NBSAP implementation.
In their Fourth National Reports, AMS indicated limited capacity, both human and financial, as hampering the implementation of the NBSAPs. While AMS have been allocating funds for biodiversity conservation, financing these efforts is expected to be a major and continuing challenge, especially in the ASEAN region.